Catizen posts a $1 billion market valuation

The sort-after meme token value reached a record high on Friday amid a successful listing on Binance and crypto exchanges.

Cryptocurrencies typically see a spike in value following the commencement of mining and listing on a significant exchange. , Catizen was first introduced in Bitget’s PoolX, offering users who lock their tokens in the exchange the chance to win 53,000 TON, or roughly $300,000. Following its listing on Binance CATI token broke the $1 mark. It is also listed on digital exchanges, including crypto.com, WhiteBIT, Gate.io, and OKX.

The Open Network (TON)-based game was released in March and lets users manage a virtual cat city while earning rewards, has seen a surge in value that has led to its market valuation reaching over $1 billion at its peak.
Catizen, is a popular meme token with over 34 million users, 3.5 million daily active users, and an average revenue per paid player of $33. Catizen gains from Telegram’s huge user base and features that enable safe, decentralized transactions, the platform’s approximately 1 billion monthly users interact through bots and mini-apps.

Pre-trading for CATI has already begun on Bitget and Bybit exchanges, where its price ranges from $0.43 to $0.53. As the token formally becomes a reality on Binance, its volatility may rise, as is usual for tokens in the pre-launch stage. Binance Labs, which invested in Pluto Studio to hasten the game’s development and draw in more players, also supports the initiative.

The introduction of CATI farming by STON.fi, a well-known decentralized exchange on TON’s Blockchain, was the primary driver of Catizen’s Friday spike. The company allowed users to win 20,000 STON rewards, valued at $86,000, as part of the launch.

Rewards will be given to the CATI/TON and CATI/USD pairings. The farming season will end in October. 4. Tokens are earned by gathering “cats” and completing easy tasks like following the app’s social media accounts. Compared to Notcoin and Pixelverse, two other Telegram tokens that experienced a dramatic decline following their airdrop,