During the past week, there has been a surprising rise in the value of gaming tokens. Furthermore, bitcoin‘s price hit an unprecedented peak of over $71,000. Ethereum, Dogecoin, Cardano, and other significant altcoins have followed suit, experiencing impressive gains. Likewise, cryptocurrencies for gaming such as Immutable X, Beam, Gala, and MultiversX have shown positive trends during this bullish market. Given these circumstances, investors could be pondering their next move: buy, sell, or hold.
Let us examine a few of the GameFi tokens that have experienced a recent surge.
1.Immutable X
Immutable X is a layer-2 scaling solution for NFTs that runs on Ethereum. The security of users’ assets is not compromised by the ease of making and selling NFTs. Immutable X uses an engine called Zero-Knowledge Rollup to achieve scalability. Immutable X’s common global NFT order book can significantly increase trading volume and NFT liquidity. It aims to improve Ethereum’s usability and scalability.
Immutable X (IMX) is trading at $2.38 per IMX/USD as of April 18, 2024. Its market capitalization is 2.70 billion USD, and its trading volume is 64.27 million USD per day. As per the chart, the coin has shown remarkable growth over the last 7 days. On 17 April, IMX was at $1.8, whereas today, it has climbed to $2.38. The spike in the price has created stir among the traders. The change between marketcap and 24hr volume is 2.10%.
2.Beam
The BEAM Token is a privacy-focused cryptocurrency that uses smart contracts to carry out asset transfers and transaction processing. Two Blockchain technologies, LelantusMW and Mimblewimble, are used to guarantee user identities, address balances, and transaction anonymity. Beam’s Blockchain is built entirely in C++ with the goal of safeguarding the confidentiality and privacy of user addresses at all times.
With Beam, you can conduct confidential transactions without disclosing the involved parties’ identities or the transaction value, all thanks to its advanced privacy features. These features are grounded in the Mimblewimble protocol. To add an extra layer of privacy, Beam employs anonymous currency generation and elimination through the Lelantus protocol.
The current live Beam price is USD 0.030, with a 24-hour trading volume of USD 33,351,100. With a live market cap of USD 1,593,697,237. The coin is now at $0.030 and 7 days ago it was at $0.026. The spike in the price is almost 25%. The surge in the price could be due to the recent market pull, but the sellers who wants to book profit can take the call. This week the coin touched highest point at $0.033.
3. Mallconomy
In simpler terms, Mallconomy provides an engaging environment where businesses can prosper and tourists can discover new experiences. This metaverse platform serves as a dynamic hub, fostering collaboration, innovation, and fair compensation through advanced tools like the Launchpad and Rewards Application.
In the metaverse world, creators, brands, and other key players stand to gain maximum value from Mallconomy. It provides a captivating, interactive Gamefi economy experience.
4. Gala
In the Gala Games platform, The Founder’s Nodes regulate user engagement and establish the financial requirements for different games. Inside this ecosystem, GALA, represented by the utility token GALA, serves as a medium for swapping tokens through Ethereum. GALA Games provides an array of games where users can own in-game assets via NFTs. This platform was among the pioneers in the “play to earn” gaming genre. Unlike its competitors, Gala Games focuses on creating top-tier games that players are genuinely enthusiastic about playing.
Based on the information from the official site, more than 1.3 million individuals use the platform every month. This vibrant community relies on approximately 16,000 nodes run by engaged players. The market value of Gala is $1,477,610,661, with a trading volume of $134,472,132 in the last 24 hours, and there has been a 19% increase in its price.
Seven days ago, the coin cost $0.040, while its current value is $0.048. The recent market downturn might be behind this price rise, but there’s still an opportunity for sellers to cash in. The coin hit its peak this week at $0.051.
5. MultiversX
MultiversX, a blockchain innovation, employs sharding in its three aspects – Network, Transaction, and State – to achieve complete scalability horizontally. This decentralized finance, real-world asset, and Metaverse technology ecosystem for the next internet, boasts an integral component called Security Proof Staking (SPoS).
MultiversX’s collaborations and alignments with other projects and networks enhance its achievements. These partnerships not only strengthen the community but also broaden MultiversX’s influence, opening doors for new opportunities to grow and develop. Currently, MultiversX has a real market value of $1,188,033,773, and there are 26,849,904 EGLD in circulation out of a total supply of 26,855,056 coins.
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2024-04-23 17:22