Crypto Gaming Tokens Surge in Green Market
If you’ve been keeping an eye on the crypto market, you may have noticed that tokens tied to gaming-centric networks and high-profile games in the Ethereum ecosystem are making big gains. For example, Illuvium (ILV), Ronin (RON), and Immutable (IMX) have all seen significant double-digit percentage increases over the past week.
Illuvium, a highly anticipated NFT game running on Immutable X, has experienced an 86% price jump in the past week, with its current price sitting above $95. This marks a 141% increase over the past month, with much of the gain attributed to the recent announcement that the game will launch on the Epic Games Store and a forthcoming beta test.
Immutable’s own token, IMX, has surged by 50% this week, reaching a price of $1.04 per token. Additionally, RON, the token of the Ronin network, saw a 53% increase this week to reach $0.78 and is up 88% over the past month. These gains are outpacing more traditional cryptocurrencies like Bitcoin and Ethereum.
Gaming Networks and Partnerships
Immutable X recently announced a partnership with Ubisoft, while Ronin network has seen surging active users thanks to the launch of Pixels and hosting Axie Infinity. Gala Games’ GALA token pumped 33% this week and 87% over the past month. Meanwhile, Axie Infinity’s AXS token is up 12% this week and nearly 46% over the last month. The Sandbox’s SAND token marked a 12% weekly jump and 45% rise over the last 30 days.
Hot Take: Crypto Gaming Tokens Steal the Show
The surge in value for gaming tokens like ILV, RON, IMX, and others demonstrates that crypto investors are increasingly looking towards gaming-centric networks and high-profile games in the Ethereum ecosystem as lucrative investment opportunities. These tokens are outperforming more established cryptocurrencies like Bitcoin and Ethereum, signaling a potential shift in investor sentiment towards gaming-related blockchain projects.
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