NEW DELHI (CoinChapter.com) — XAI Gaming, an Arbitrum-based crypto project, continued celebrating its recent listing on Binance with its token enjoying a massive bull run over the weekend.
The gaming-focused crypto platform has attracted much attention from buyers, with social media abuzz with XAI’s ongoing bull run. Furthermore, XAI token airdrop and node sale opportunities helped increase the hype around the token.
XAI’s price converted the hype into profits as buyers flooded the market. The token rallied nearly 78% over the weekend to reach a daily high near $0.95 on Jan. 14 before correcting slightly. XAI buyers are betting on the token reaching the $1 price level.
However, the $1 price tag might see the XAI token falling prey to profit booking, which could halt the XAI price rally.
Trader Betting On XAI Price Bull Run Continuing
Meanwhile, traders are betting on XAI continuing its bull run.
The token, trading near $0.02, spiked nearly 5,900% to a high near $1.2 when trading began on Jan. 9. However, XAI price failed to hold above $1.
Several traders shared social media posts with XAI price charts, predicting XAI might push through profit booking to register more gains. On Jan. 13, a crypto analyst with the username ‘Crypto Candy‘ speculated that XAI price might become one of the top gainers on Binance.
Decentralized iGaming infrastructure provider WINR announced it will deploy its ‘WINR Account Abstraction Wallet‘ and ‘WINR Verifiable Random Function‘ on the XAI Games blockchain.
WINR claimed the integration would help provide “blazingly fast random number generation and seamless user onboarding” for games on the XAI blockchain. News of the collaboration would likely help XAI token continue its bull run.
Additionally, XAI has begun attracting new gaming projects to its blockchain. Multiplayer RTS game Orivium announced it was building its “next-gen Real-Time Strategy game” on XAI. Orivium stated that XAI’s stability, low gas fees, wallet integration features, and simplicity impacted its choice.
What Is XAI Gaming?
XAI is the first Layer- 3 blockchain built on the L2 platform Arbitrum. The platform allows traditional gamers to participate in open trade without interacting with their crypto wallets.
XAI Games addresses scalability, high gas fees, and wallet interaction hurdles and helps integrate traditional gamers into Web3. The protocol’s native gas token, XAI, can be redeemed for esXAI (escrow XAI), which allows staking for yield increase, access to special events and NFTs, and governance rights.
The platform uses Arbitrum’s a variant of Arbitrum’s Nitro technology called ‘AnyTrust‘ that lowers cost by accepting a mild trust assumption. The consensus mechanism relies on an external ‘Data Availability Committee‘ to store data.
Furthermore, developers and traders seem to gravitate towards the layer-3 gaming solution as new projects are starting to line up. Per XAI Games’ roadmap, XAI plans to deploy more games in Q2 2024, such as Final Form and MIX games.
As such, the XAI token might continue its bull run in 2024, though it is likely that the token would fall prey to profit booking shortly before re-starting its rally.
