thedefiant.io
Onchain trading card platform Collector Crypt’s CARDS token is up 60% in the last week as its gacha spin volume hits new highs, driving protocol revenue and token buybacks to their highest levels since September.
The CARDS token is up 12% today and 211% over the last month to a $200 million fully diluted valuation (FDV). Despite its strong month, however, CARDS is still down 73% from its all-time high in September.
Following its official token launch in August, CARDS exploded to a nearly $1 billion FDV, with its parabolic price action potentially aided by its low circulating supply of less than 20%.
Between Jan. 5 and Jan. 12, users spent almost $20 million on the platform’s gacha vending machine for a chance to win rare tokenized Pokémon cards.
The surge in activity drove Collector Crypt’s revenue to its highest level since September, totaling $1.87 million over seven days.
Activity is also increasing on legacy tokenized trading card platforms such as Courtyard, which also recorded its highest weekly revenue since September.