Param Labs Token Listed on Major Exchanges, But Is it Worth Buying?

Param Labs has finally listed its token on prestigious cryptocurrency exchanges like ByBit, Gate, BitGet, and MEXC. The company recently held a staking campaign on ByBit’s launchpool.

Through a stake-and-earn competition with almost 960% APR, ByBit issued a total of 6000,000 PARAM tokens within the Bybit community, offering rewards totaling $20 million USDC. Additionally, As part of its Web3 startup token airdrop, which is giving away 40,000 PARAM tokens, Gate.io has also announced a $PARAM launch. The PARAM token is currently available on the platforms for spot trading with USDC and USDT.

Param Labs’ influence on Web3 gaming industry

Currently, Wager Matches, Param’s network layers, and other operations are powered by the PARAM token. Incentives for staking, exclusive discounts, and a democratic voting role in governance are all enjoyed by token holders. Long-term PARAM price increase is further encouraged by a deflationary mechanism.

By uniting distinct intellectual properties and utilizing blockchain and AI technology, the Param ecosystem is transforming the game industry.

Previously, Param tokens could not be purchased or sold. However, the scenario is up for a change now. These tokens can be exchanged for branded goods that are only available within the Param ecosystem or used to claim additional tokens or non-fungible tokens (NFTs) in special airdrops.

With the industry expected to advance and trend upward, the token is likely to be a top choice for many crypto investors in the upcoming weeks. The price of the Param (PARAM) token is currently trading at $0.1167, showing a decline of over 22% since its listing, according to CoinMarketCap data.

The development of several products, including Param Launchpad, is part of the ecosystem that Param Labs has announced. Anyone using the token to mint and own game assets will be able to access special collections from top gaming businesses.

Is PARAM token worth buying?

The PARAM token has utility within the Param ecosystem and potential for growth in the Web3 gaming industry. It is deeply integrated within the Param ecosystem and has the potential to grow alongside the booming Web3 gaming industry.

However, there are factors to consider. The recent price decline of over 22% since the listing raises concerns about short-term volatility, especially massive dumping from airdrop participants. Being a newly listed token, Param (PARAM) lacks a long history, making future performance predictions more challenging.

Param (PARAM) Price Chart (Coinmarketcap)

The Web3 gaming space is fiercely competitive, and PARAM will need to carve out its niche among established players like Axie Infinity, Immutable (IMX), Gala (GALA), and Sandbox (SAND), among others.