Digital currency My Neighbour Alice (ALICE) dropped on Tuesday, falling from a high of $27.78 on Monday, after it got listed on Binance, a cryptocurrency exchange that provides a platform for trading various digital currencies. On Tuesday, the cryptocurrency was trading at $19.19, down by 23.58 per cent.
With this sudden rise, the market cap of the digital coin had crossed the $1 billion thresholds at the beginning of this week. However, on Tuesday, the fully-diluted market cap (FDMC) slipped by 23.58 per cent to $1,918,773,405.
Currently, there are 17 million ALICE coins in circulation and the total supply cap is 100 million tokens.
My Neighbour Alice is a multiplayer game that allows players to make their virtual lands. The game also allows the players to earn rewards and interact with their virtual neighbours, while also developing the community. The game takes inspiration from Nintendo’s Animal Crossing series.
My Neighbour Alice players can use ALICE to make purchases in-game assets or special skill set. This type of trade is converted via Non-Fungible Tokens (NFTs). This will allow the gamers to keep their purchased assets, which they can trade outside the platform as well.
ALICE tokens can be used throughout the game, for example, participation in local governance, improvement proposals, and so on. Completing quests within the game also allows players to earn ALICE tokens.
Currently, the game is available for English speaking users only, but the company plans to expand it to other languages as well.