RON and BEAM Tokens Lead the Charge in Gaming-Centric Crypto Surge
With Bitcoin and Ethereum on the rise, gaming-centric tokens are also gaining momentum. Two tokens, RON and BEAM, tied to the Ronin and Beam networks respectively, are leading the charge among large-cap projects.
RON Token Surges on Ronin Network Adoption
The RON token, associated with the gaming-centric Ethereum sidechain network Ronin, has experienced a significant surge in value. Over the past 24 hours, RON has increased by 21% to reach a price of $1.75. This surge has contributed to a weekly gain of 67% and a substantial 197% jump in the last 30 days. The rise of RON can be attributed to the growing adoption of Pixels, a popular blockchain game that recently migrated to the Ronin network from Polygon. Additionally, Axie Infinity, the monster-battling game that initially launched the network, has seen increasing momentum amid the improving crypto market.
BEAM Token Reaches New All-Time High
The BEAM token, which is based on Merit Circle’s Beam gaming network on Ethereum’s Avalanche subnet, has reached a new all-time high price. Following an announcement by Merit Circle about integrating the upcoming Immutable zkEVM network into the Beam ecosystem, BEAM experienced a further surge in value. It reached a peak just above $0.017 before settling at around $0.0162. Currently, BEAM is up 6% for the day, 78% for the week, and an impressive 238% for the month.
Other Notable Gainers in Gaming Tokens
Several other gaming tokens have also shown positive gains recently. Immutable’s IMX token has increased by 6% today to reach a price of $1.47, with a weekly gain of 16%. Gala Games’ GALA token is up 6% today, surpassing $0.03. GALA has seen a 25% increase over the past week and a 60% increase in the last 30 days.
Gaming Tokens: Volatility and Market Trends
Gaming tokens, much like meme coins, are known for their volatility. They tend to experience sharper gains during bullish market conditions but can also face significant losses during bearish trends.
Bitcoin and Ethereum Performance
Bitcoin has risen by 16% this week, reaching a current price of approximately $43,600. Over the past 30 days, it has experienced a jump of nearly 26%. Ethereum has closely followed Bitcoin’s performance, with a 15% increase this week to reach $2,339. Its 30-day gain stands at 26%.
Hot Take: Gaming Tokens Riding the Crypto Wave
Gaming-centric tokens are riding the wave of the overall crypto market surge. With the rising adoption of blockchain games and advancements in gaming-centric networks, tokens like RON and BEAM have experienced significant gains. However, it’s important to note that these tokens are highly volatile and their performance depends on market trends. As Bitcoin and Ethereum continue to rally, gaming tokens are likely to show continued growth. Investors in the gaming space should closely monitor these tokens for potential investment opportunities.
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