Gaming Tokens Rebound as Ronin and Beam Post Double-Digit Gains

It’s been an up-and-down couple of weeks for the cryptocurrency market following the launch of spot Bitcoin ETFs in the United States, but some of the largest gaming tokens are emerging from the red Wednesday with sizable gains as the broader crypto market shows signs of life.

All of the gaming tokens in the top 100 cryptocurrencies by market cap are in the green as of Wednesday morning, per CoinGecko, with Ronin (RON) and Beam (BEAM) leading the charge.

RON is up 10.5% on the day to a current price of $2.31, continuing the token’s torrid gains of late. The Ethereum gaming sidechain network’s native token is up 17.5% on the week and over 30% over the past 14 days, amid growing hype over its game offerings, particularly buzzy farming and life simulation game Pixels.

BEAM, meanwhile, has posted a 10% gain on the day to a current price of $0.0178. The token of the Beam network, which is operated by the Merit Circle DAO and based around an Avalanche subnet, has been highly volatile since peaking at an all-time high price of $0.0272 on December 14 following its late October launch. It’s down 17.5% on the week.

Those are the biggest gainers among the largest gaming tokens by market cap, but other notable coins are riding high Wednesday as well.

Immutable (IMX) is up nearly 5% today to a price of $1.85, though still down over 20% in the last 30 days, following significant recent gains. And Gala Games’ GALA token is up 5.1% today to $0.022—but it likewise is reeling from a 30%-plus dip over the past month, according to CoinGecko.

Broadly, the crypto market is up 1.8% over the past day, with Bitcoin gaining 2.4% at a current price of about $39,980 and Ethereum nearly flat at $2,230.