The post Bitcoin and Ethereum Are Cooling Off—But Gaming Token Prices Are Down Bad appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports As the price of leading cryptocurrency Bitcoin cools off, gaming tokens are among the worst-hit tokens over the last week, with one major game’s token dropping 40% during the span. After a broadly strong first half of the year for crypto, Bitcoin has dipped by nearly 6% over the past week to $66,830, while Ethereum has fallen a larger 10% to $3,460 as investors wait for spot Ethereum ETFs to start trading in the U.S. But while the crypto market bleeds, the gaming segment has suffered some of the worst casualties. Gaming tokens tend to be highly volatile, like meme coins, due in part to the crypto gaming market still being relatively nascent. And this week, top tokens tied to gaming projects are taking some of the biggest hits of all. Worst affected among major gaming tokens is Guild of Guardians (GOG), tumbling 40% to $0.105, with Parallel’s PRIME token falling closely behind with a 36% drop to just under $11. Guild of Guardians launched on Ethereum scaling network Immutable zkEVM in May, earning a positive review from Decrypt’s GG after signing up over 1 million prospective players ahead of the wider release. But as the game plans to roll out a new Guardian, it couldn’t withhold market pressure with its token dropping.  PRIME’s dip comes amid Parallel’s launch onto the Epic Games Store, a move that puts the NFT card-battling game in front of a monthly audience of 75 million active users. Once again, despite this apparently positive move for the game, it was still one of the worst-hit gaming tokens this week. Other top…

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Filed under: News - @ June 14, 2024 11:22 pm