MAVIA Surges 30% in 24 Hours
The native cryptocurrency of the mobile game Heroes of Mavia, MAVIA, has experienced a significant surge, increasing by 30% in the last 24 hours and reaching a high of $8.59. Currently, MAVIA is trading at $7.76 with a market cap of $232 million, representing a 12.78% increase. Since its launch on February 6, MAVIA has already gained 170%.
Whale Frenzy Boosts MAVIA Price
An Ethereum wallet known as 0x82886ad5e67d5142d44ed1449c2e41b988bfc0ab recently purchased over 12,000 MAVIA tokens valued at $100,000 USDC in two transactions. This wallet, referred to as “Smart trader ETH and MKR 0x828” by Spot On Chain, bought MAVIA tokens at an average price of $8.125 each. It is worth noting that this is the first investment this wallet has made in MAVIA. The trader behind this wallet has a successful track record, having earned $357,000 in profits from Maker trades and holding approximately $16.09 million in Ethereum.
The large capital influx and endorsement from a respected ETH and MKR trader have generated buying interest in MAVIA. Speculators interpret this move as a sign of potential value in the Heroes of Mavia project, leading to increased demand for MAVIA tokens. Consequently, the token price has surged by 35% as speculators rush to take advantage of the perceived opportunity.
Gaming Tokens Experience Bullish Rally
The surge in MAVIA’s price coincides with a fresh boost for gaming tokens following Bitcoin’s crossing of $50,000. Alongside Heroes of Mavia, the price of ImmutableX (IMX) has also reached its two-year high.
Immutable, the token that powers the gaming-focused Ethereum scaling platforms Immutable X and Immutable zkEVM, surpassed $3 on Sunday. It has since stabilized at $3.09. CoinGecko data shows that this is the highest value IMX has achieved since February 2022, with a notable 37% increase over the past week. As a result, Immutable has entered the top 25 cryptocurrencies by market capitalization.
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