Gameness, a blockchain gaming and esports platform, listed its native token $GNESS on the MEXC exchange today. The token opened at $0.01500, surged to an intraday high of $0.02781, then pulled back to $0.02210 at press time. The token recorded an 85.40% trading range within the first hour and registered a 24-hour volume of 2.41 million GNESS.
Volatility Mirrors PancakeSwap Debut as $GNESS Fails to Hold Gains
The MEXC listing triggered a quick influx of buyers, pushing the Gameness price up 85% from the opening level. The one-minute candlestick chart showed a green breakout candle reaching above $0.027 before heavy sell-offs sent prices lower. As of now, $GNESS is still trading up +47% from its MEXC debut, though down from its session peak.
The token was previously launched on PancakeSwap on May 9, where it reached a high of $0.4031. As of writing, $GNESS trades at approximately $0.02690, down over 17% on the day, with a 24-hour trading volume of around $71,100.
Gameness is an AI-driven platform aiming to enhance user engagement in esports and competitive gaming. The ecosystem uses $GNESS tokens for a range of utilities including voting on platform governance, receiving rewards, and accessing services such as real-time esports data authentication.
A distinguishing feature of the project is its on-chain esports data system, designed to make competitive events more transparent and tamper-resistant. The project also includes token-burning mechanisms and liquidity locks to manage circulating supply and encourage long-term holding.
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Why Did the Price Fall on MEXC Listing Day?
Market watchers had anticipated that the MEXC listing might drive buying pressure. However, the lack of further major exchange listings, particularly on Binance, has tempered investor enthusiasm.
The token’s recent price action reflects a pattern seen with many early-stage crypto projects: initial speculative hype followed by rapid correction. $GNESS surged and dipped within hours of its PancakeSwap debut, and a similar volatility pattern is now emerging on MEXC.
Investor sentiment appears to hinge on whether Gameness secures a listing on Binance. No official statement has been released from Binance as of May 13.
Despite the price correction, some analysts believe $GNESS could still recover if trading volume on MEXC picks up or if a Binance listing materializes. In such scenarios, short-term targets between $0.50 and $1 are being floated, with more optimistic projections ranging from $1 to $5 based on performance comparisons with similar tokens.
