When Bitcoin’s price quickly crashed after setting a new all-time high price on Tuesday, many cryptocurrencies followed suit—including most of the prominent gaming tokens. But with Bitcoin rising back to $68,000 and Ethereum edging closer to $4,000, gaming coins are hot again.
Tokens tied to crypto games and gaming networks are broadly in the green today, according to data from CoinGecko, led by Immutable (IMX)—the top gaming token by market cap.
The Ethereum scaling platform, which spans the Immutable X and Immutable zkEVM networks, has seen its IMX token rise 9% over the past day to a current price of $3.30. While down from its recent high above $3.50, the token is up 48% over the last 30 days and has a current market cap of more than $4.5 billion.
Other networks’ coins are also up today, with Beam (BEAM) rising more than 4% to a price above $0.04, while the Ronin network (RON)—an Ethereum scaler behind games like Pixels and Axie Infinity—has marked an 11% jump to $3.15, its highest price in two weeks.
Saga Gaming Token Airdrop Begins Across Avalanche, Cosmos, and Solana
Gaming-centric network Saga launched its airdrop claim on Wednesday following three months of play-to-airdrop competitions. Winning players from those events can now claim SAGA tokens, along with crypto users who have staked tokens on a few other blockchain networks. More than 200,000 unique wallets are eligible across chains including Avalanche, Solana, Cosmos, Celestia, and Ethereum scaler Polygon. The claims page is now open, and tokens can be claimed until March 27. A total of 60 million SAG...
The XAI token of Arbitrum’s layer-3 Xai gaming network popped 8% over the last day to a current price of $1.43, meanwhile, and the MAGIC token of Treasure—a different Arbitrum gaming network for various games—is up 6% today to $1.31. And the GALA token of the Gala Games ecosystem is up 7% to a price above $0.044.
In terms of prominent tokens tied to individual games, the SAND token of metaverse game The Sandbox is up 5% today to $0.70, Axie’s AXS governance token is up nearly 7% to $10.80, and the PRIME token of NFT card game Parallel has climbed about 8% to $15.72.
Coinbase Is Giving Out Free Cards and Currency for Ethereum NFT Game 'Parallel'
Cryptocurrency exchange Coinbase is offering up free in-game items and currency for Ethereum NFT card game Parallel, which launched to the public in open beta last week. The exchange will offer up $5 worth of in-game credits (Glints) and two free packs of non-NFT cards to new players who access the game either through Coinbase’s “explore” page for retail traders or through social media posts from Base—the Ethereum layer-2 scaling network incubated by Coinbase. Parallel mints some of its NFTs on...
Bitcoin touched just above $68,000 again on Thursday, but has dipped slightly since to a current price of $67,355. The leading cryptocurrency set a new all-time high price of $69,324 on Tuesday per data from Coinbase, and then proceeded to plunge to about $61,000.
Meanwhile, Ethereum continues to creep upward, aside from the brief dip Tuesday in parallel with Bitcoin’s own collapse. Ethereum popped as high as $3,933 earlier Thursday, the highest price it’s been since 2021. Even with the $4,000 benchmark in sight, however, ETH remains about 20% away from its 2021 all-time high price of $4,878.
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Edited by Ryan Ozawa.
