The gaming tokens have surprisingly surged during the week. Moreover, the price of bitcoin most recently reached an all-time high of more than $71,000. Leading altcoins with significant gains, including Ethereum, Dogecoin, Cardano, and others, have joined in the celebration. Alongside, gaming cryptocurrencies like Immutable X, Beam, Gala, and MultiversX have shown positive momentum throughout the week amid this bullish trend. With these developments in mind, investors might be debating whether to purchase, 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.

Beam’s privacy features allow for private transactions without revealing the identities of the sender, recipient, or transaction amount. These features are based on the Mimblewimble protocol. Beam further enhances privacy by utilizing anonymous currency creation and burning via 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

Mallconomy opens up a world of opportunities for a thriving community. From business owners running their storefronts to curious tourists exploring the mallverse, the platform offers a vibrant metaverse sanctuary for all. Mallconomy continually expands its influence and promotes cooperation, creativity, and equitable rewards with its state-of-the-art features, such as the Launchpad and Rewards App.

Here, all metaverse creators, brands, and other members involved in building can reap optimum benefit from Mallconomy. It offers an immersive, dynamic Gamefi Economy.

4. Gala

The Founder’s Nodes are a mechanism that controls user participation and determines the amount of financing needed for various games. Within the Gala Games ecosystem, Gala (GALA) is a utility token that can be exchanged for other tokens via the Ethereum network. GALA Games offers a variety of games where users may use NFTs to gain actual ownership of their in-game assets. It was a pioneer in the video game genre known as “play to earn.” Gala Games, in contrast to its rivals, is committed to producing excellent games that players will “actually want to play.”

According to the official website, there are currently over 1.3 million monthly active members on the platform. The community is powered by over 16,000 nodes operated by players. The marketcap of Gala is $1,477,610,661, 24 hr volume is $134,472,132, and 19% spike in price.

The coin’s price was $0.040 seven days ago, and it is currently $0.048. The recent market pullback may be the cause of the price increase, but sellers looking to book a profit can still make the call. The coin reached its highest point this week at $0.051.

5. MultiversX

A blockchain technology called MultiversX uses all three facets of sharding—Network, Transaction, and State—to provide full horizontal scalability. The initiative calls itself a decentralized finance, real-world asset, and Metaverse technology ecosystem for the next internet.
Security Proof Staking (SPoS) is built into the core of the MultiversX network. So, that is an important part of MultiversX. Similarly, by providing token holders with rewards for staking their tokens and participating in consensus, SPoS mechanisms thus ensure a fair and transparent oversight of the overall system.

MultiversX’s strategic alliances and synergies with other initiatives and platforms contribute to its success even more. These partnerships not only bolster the ecosystem but also extend MultiversX’s reach, creating fresh chances for expansion and improvement. With a real market capitalization of $1,188,033,773.Currently, MultiversX has 26,849,904 EGLD in circulation, with a maximum supply of 26,855,056 EGLD coins.

The post Top 5 Gaming Cryptos Spike Up This Week appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am