This weekend saw a significant increase in the value of crypto tokens related to video games and the gaming ecosystem.
While Bitcoin briefly reached the $70,000 level, several tokens have experienced unprecedented rallies, with some reaching all-time highs and others reaching levels not seen in years. Some skyrocketed.
Gala token emerges as top performer
The GALA token within the Gala ecosystem emerged as a standout performer in this weekend’s rally. According to CoinGecko data, its price has increased by 42% in the past 24 hours alone, approaching $0.08. It nearly broke above $0.085 early Sunday, marking a staggering 77% gain in one week and a staggering 230% gain in the past month.
GALA’s surge in value cannot be attributed to a single discernible trigger. However, Gala’s recent activities, including the launch of the GalaSwap decentralized exchange (DEX) on the GalaChain network and sponsorship of a $1 million hackathon at a game developer conference, have contributed to bullish sentiment among long-term holders. There is a high possibility that you have.
This surge propelled GALA into the top 50 cryptocurrencies by market capitalization on CoinGecko. Despite this, the token is still more than 90% below its all-time high price of $0.82 recorded in November 2021.
Pixels and Ronin tokens ride the wave
In addition to GALA, other gaming tokens also experienced significant gains over the weekend. The PIXEL token, which is associated with the cryptocurrency farming game Pixels, soared to an all-time high of $0.94 overnight. Despite a slight drop to $0.88, the token has gained an impressive 63% this week.
According to Decrypt, PIXEL’s surge in value correlates with data showing growing interest in the game, with daily active users exceeding 500,000 at its peak. Meanwhile, the RON token linked to the Ethereum scaler Ronin network soared to $4.05 overnight, hitting a two-year high.
According to a report by CoinApe, the recent recovery in the crypto market, highlighted by Bitcoin’s surge to a record $70,000, has triggered a notable recovery trend across various sectors. In particular, the GameFi token has attracted significant interest over the weekend, presenting new trading opportunities for prospective investors.
RON was close to surpassing its all-time high of $4.29 in January 2022, but has since fallen back to $3.70. Nevertheless, it reflects a notable increase of 24% over the past week. Additionally, his YGG token, associated with Yield Guild Games and announced as his partner in gaming’s Guild Infrastructure, soared 64% this week, further demonstrating the bullish sentiment surrounding gaming-related tokens.
Photo: Michelle Henderson/Unsplash
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