Crypto Tokens Tied to Blockchain Games Surge Amid Bitcoin and Ethereum Boom
Tokens linked to popular blockchain games and their supporting networks are experiencing a significant surge, with several tokens reaching new all-time high prices in the past day. According to data from CoinGecko, tokens associated with gaming networks Xai (XAI), Beam (BEAM), Heroes of Mavia (MAVIA), and Parallel (PRIME) have all seen a spike in prices.
XAI: A Promising Token from Arbitrum-based Gaming Network
The XAI token, tied to the Arbitrum-based layer-3 gaming network, reached a new peak price of $1.39 before settling at $1.30. With a market cap of $359 million, XAI has entered the top 200 cryptocurrencies by market cap.
BEAM: The Token of the Avalanche-based Beam Gaming Network
The BEAM token, operating on the Beam gaming network built on an Avalanche subnet, is currently priced just above $0.035. With a market cap of nearly $1.8 billion, BEAM is the second-largest gaming-centric token.
PRIME: The Token of Crypto Trading Card Game Parallel
The PRIME token, associated with the crypto trading card game Parallel, reached an all-time high price of $14.84 before dipping slightly to just above $13. It recently launched a new season of in-game content and is currently in closed beta.
MAVIA: The Token of Mobile Strategy Game Heroes of Mavia
The MAVIA token, tied to the mobile strategy game Heroes of Mavia, surged to an all-time high price of $10.59 before experiencing a decline to around $8.50. Since its debut less than three weeks ago, MAVIA has spiked 370%.
Longer-Running Gaming Tokens Struggle to Reach Previous Peaks
Tokens like IMX, The Sandbox (SAND), ApeCoin (APE), and Gala Games (GALA) have yet to reach their all-time high prices. Most of these tokens are down over 90% from their peaks, except for Immutable (IMX), which has risen 74% in the past 30 days but remains down 65% from its highest price.
Hot Take: Gaming Token Spikes Coincide with PIXEL Token Launch
The recent surge in gaming tokens aligns with the launch of PIXEL, the highly anticipated token of the crypto farming game Pixels on the Ronin Network. Since its debut, PIXEL has experienced a 24% increase and currently holds a market cap of $821 million.
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