The crypto markets have been bleeding red in recent days, a stumble ahead of theBitcoinhalving currently expected on late Friday—but gaming tokens have taken some of the hardest hits, with some notable tokens down by more than 30% and hitting all-time low prices.
The price of BTC is down by over 12% this week, falling to around $61,500 as of this writing after being above $71,000 earlier this week. AndEthereumhas fallen by almost 15% over the last week, currently at just $3,000.
Many major tokens have marked even more substantial drops this week, withSolanaplunging by 22% andAvalanchedown 28% during the past seven days. But some gaming tokens are doing even worse over that span, according to data fromCoinGecko.
GALA, the token of theGala Gamesecosystem, is having an even harder week thanks to a 32% plunge to a current price of about $0.04.Immutable(IMX), the most valuable gaming token with a $2.7 billion market cap, is faring slightly better at a 27% drop to $1.89. But the Ethereum scaling network’s token has fallen by nearly 50% in just over a month.
AD
AD
Gaming tokens launched this year are among the most battered of the bunch, withPixels(PIXEL) down 39% in the last week alone to a current price of about $0.40, theXai(XAI) gaming network’s token down 34% to $0.68, andPortal(PORTAL) plunging 34% over the past seven days to $0.99. Pixel and Portal tokens both hit all-time lows on Saturday.
But some prominent longtime tokens aren’t doing much better this week.Axie Infinity(AXS) andApeCoin(APE) are both down 27% this week,The Sandbox(SAND) has dipped by 28%, andIlluvium(ILV) has dropped by 29%.
There is one rare exception: the GOG token of Guild of Guardians, a mobile fantasy game from Immutable that’sfinally releasing in Mayafter years of public development, is up 69% on the week to a current price above $0.29.
Bitcoin is starting the week above $65,000 and just 6% away from the all-time high price of $69,044 it set on November 10, 2021.
At the time of writing, the Bitcoin price is $65,037.24.
IQ.wiki, the decentralized alternative to Wikipedia for crypto topics, has made major strides in AI. In a recent episode of the SlateCast hosted by Liam “Akiba” Wright and Nate Whitehill, Navin Vethanayagam, Chief Brain of IQ.
What is CryptoSlate Alpha?
A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more ›
Connected to Alpha
Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.