The Fusionist (ACE) new coin mining event hosted by OKX and Binance has ended today. During the 5-day event, Binance’s pledge amount reached a staggering $4.55 billion, while OKX reached $220 million. The token ACE of Fusionist has been listed on major exchanges such as Binance, OKX, and Bithumb.
(Previous summary:
Binance Launchpool Wealth Code》Estimated price for $ACE (Fusionist) this week?)
(Supplementary background:
Why are the two giants, Binance and OKX, listing the Fusionist (ACE) token? How to participate in mining?)
Table of Contents:
Pledge amount reaches $4.77 billion in 5 days
ACE spot trading listed on Binance, OKX, Bithumb…
Current ACE all-time high at $16.36
What is Fusionist (ACE)?
On the 13th of last week, the two major cryptocurrency exchanges, OKX and Binance, launched the highly anticipated new coin mining project, Fusionist (ACE). This project quickly became a hot topic in the cryptocurrency community, with discussions focusing on mining profitability, ACE’s estimated value, and the best mining strategies.
The mechanism of new coin mining involves participants staking specific cryptocurrencies to receive project tokens as rewards. For OKX, users need to pledge BTC and OKB, while on Binance, it is BNB and FDUSD.
As of this morning, the new coin mining event has officially ended. At the same time, Fusionist’s token ACE will be successively listed on major exchanges this afternoon.
After the event, the community began actively discussing how much funds were attracted to this mining activity. According to the statistics of account X, Ai Yi:
Binance’s pledge amount reached 13.57 million BNB (worth approximately $3.2 billion) and 1.35 billion FDUSD, totaling $4.55 billion.
OKX pledged 40,790 BTC (approximately $167 million) and 990,000 OKB (approximately $55.5 million), totaling $220 million.
It is worth noting that OKX’s mining pool pledge amount has not been disclosed, and this data is derived from the reverse calculation of the reward amount. In addition, OKX’s pledge scale is much smaller compared to Binance due to its limited participation to a few East Asian countries.
Participants can participate in mining through direct purchase or borrowing. Buying spot may push up the token price, for example, BNB rose by 8% after the activity news was announced. Borrowing may cause an increase in borrowing interest rates, such as BNB’s borrowing interest rate on the Venus platform once soared to 93%, although it has now dropped to 7.54%, it is still far higher than the 1.1% before the event.
In addition, this activity supports FDUSD, which also stimulates its market value growth. During the event, the cumulative issuance of FDUSD reached 583 million tokens, of which 17% flowed directly into Binance.
Further reading:
Binance terminates BUSD in advance! The expiration date is scheduled for 12/15, and FDUSD becomes the 6th largest stablecoin in the market.
The spot trading of ACE tokens is currently listed on several major cryptocurrency exchanges, including Binance, OKX, Bitget, and the Korean exchange Bithumb.
Cryptocurrency investors often closely monitor the token prices on Korean exchanges, especially whether there is a premium, which is considered an important indicator of high popularity and volatility for the token.
According to data from the Binance platform, the current highest price for ACE has reached $16.36 and has repeatedly hit new highs before the deadline, currently temporarily reported at $15.0994.
Before the listing, account X, @b66ny, compared the major 3A games Bigtime and Illuvium in the Chain Game track and analyzed that the estimated price for ACE is between $12 and $20.
Source: Binance
Fusionist is a multi-NFT game universe created by a team from well-known Web2 game companies such as Tencent and IDFAME, built with the Unity engine. The story is set on Earth in the year 2800, where players play as mech commanders participating in interstellar resource wars.
Fusionist’s game ecosystem includes three different types of games:
“Colonization”: a construction simulation game that allows players to build and develop in a virtual world.
“Conquest”: a turn-based strategy game that tests players’ strategic thinking and decision-making abilities.
“Union”: an SLG (strategy simulation) game that emphasizes resource management and teamwork.
The game has been in development for about a year and is currently in the beta testing phase. In addition, the team has also developed an on-chain mainnet called Endurance, which focuses on social and game execution. Since its launch in January 2023, user and transaction volumes have significantly increased.
ACE tokens are governance tokens on Fusionist and Endurance, aiming to allow users to participate in the network and earn profits. The initial circulating supply is approximately 21.96 million tokens.
Further reading:
Binance Launchpool Wealth Code》Estimated price for $ACE (Fusionist) this week?
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Tags: ACE, Binance, Bithumb, Fusionist, OKX, new coin mining