Gaming Tokens GALA, Axie Infinity, and ApeCoin Post Huge Gains

By Andrew Hayward

Speculation over a potential approval of a Bitcoin spot exchange-traded fund (ETF) has apparently propelled the wider crypto market upward over the past week—but several gaming and metaverse tokens have seen some of the largest gains amongst major cryptocurrencies, rebounding to claim sizable double-digit percentage boosts over the past week.

GALA, the token of the Gala Games ecosystem, has been the biggest gainer amongst major gaming tokens over the past week, rising 42% to a current price of $0.02 per token according to CoinGecko.

That’s even with a nearly 7% dip over the past day after hitting its recent peak on Sunday afternoon. GALA remains nearly 98% off its peak price of $0.82 set in November 2021 as the wider crypto market hit an all-time high, but Sunday’s peak was the highest price tracked for GALA since mid-August.

Another big winner in the gaming space over the past seven days is AXS, the governance token of play-to-earn monster-battling game, Axie Infinity. AXS has jumped 28% over the past week to a current price of $5.76, as of this writing, and nearly touched $6.00 earlier Monday. Like GALA, it hit the highest price since mid-August.

And stemming months of steady decline, ApeCoin (APE)—the Ethereum-based token of the Bored Ape Yacht Club ecosystem—is up about 20% over the past week to a current price of $1.36. The price popped as high as $1.42 on Sunday, up from an all-time low price of $1.01 set earlier in October. ApeCoin will be used in Yuga Labs’ Otherside metaverse game.

MANA, the token of the Decentraland metaverse game, popped 21% this week to a current price above $0.37. And The Sandbox’s SAND token is up almost 15% this past week to a current price of $0.35. Compare those to Bitcoin, which is up 10% over the last seven days at a price of about $34,330.

Gala Games is the publisher of numerous NFT-based video games, including Champions Arena and the upcoming Mirandus and The Walking Dead: Empires. Some of the GALA token’s sharpest gains last week came early Thursday ahead of the release of Legacy, a business simulator game from 22Cans, a studio formed by legendary developer Peter Molyneux.

Edited by Ryan Ozawa.

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