Portal’s gaming token hits $425 million in market cap

Recently, a much-awaited gaming token and cross-chain platform named Portal made its long-awaited entrance, generating fervent enthusiasm among both airdrop participants and Binance token stakers. This token, aptly named PORTAL, operates on the Ethereum blockchain and marked its debut with an initial price of $2.54 per token. With a total of approximately 167 million tokens initially accessible, constituting roughly 17% of the overall supply of 1 billion tokens, the market capitalization swiftly ascended to approximately $425 million.

Portal’s gaming token reaches milestone figure

Despite the high anticipation surrounding it, the token experienced a notable price decline shortly after being listed on the Binance exchange, plummeting to $3.36. Such a 24% decrease within just 10 hours is not uncommon for newly launched tokens, especially those subject to heavy trading. Nevertheless, the trading volume for PORTAL has already exceeded $500 million.

The introduction of Portal not only facilitated token trading but also enabled participants in the project’s airdrop farming campaign on Twitter to claim their share of the initial airdrop. While some users faced challenges in claiming their tokens due to regional restrictions, others reported receiving substantial amounts of PORTAL tokens, valued in the thousands of dollars.

Furthermore, Binance customers who staked tokens in reward pools were granted a portion of 50 million tokens as part of the exchange’s Launchpool campaign. The collective value of crypto assets staked for this campaign peaked at over $9 billion, establishing a new record for Binance’s launch platform.

Portal is described as a cross-chain platform meticulously crafted to serve as a central nexus for cryptocurrency and NFT (Non-Fungible Token) games across diverse blockchain networks. This platform aims to offer gamers a unified destination to access games, conduct transactions, manage their assets, and more. Particularly noteworthy is Portal’s readiness to accommodate games on networks such as Solana and Polygon, in addition to Ethereum.

A central hub for crypto gaming

The team driving Portal comprises individuals from the crypto startup SuperDuper, renowned for their Creepz NFT project on Ethereum, alongside seasoned veterans from the video game industry, including former staff from Rockstar Games and Electronic Arts. Additionally, the project has secured representation from the prestigious Hollywood agency WME (William Morris Endeavor).

Portal has unveiled plans to introduce exclusive token staking benefits in the near future. Players will be able to stake their tokens within the platform, unlocking various advantages such as VIP access to token and NFT sales, as well as early access to upcoming blockchain-based video games.

Furthermore, Portal intends to host additional seasons of its engaging “Crystal Dash” airdrop campaign to further incentivize users. Moreover, the platform will implement nodes that users can acquire to bolster the network and receive rewards, akin to the model employed by the Xai gaming network on the Ethereum scaling solution Arbitrum.

With its ambitious objectives and endorsement from seasoned players in both the cryptocurrency and gaming realms, Portal aims to establish itself as a significant contender in the burgeoning domain of blockchain-based gaming platforms. As it continues to introduce features and interact with its community, observing Portal’s evolution and whether it can deliver on its pledge to become a central hub for crypto and NFT games across multiple networks will undoubtedly be captivating.

Leave a Reply

Your email address will not be published. Required fields are marked *