The gaming tokens surge along with the metaverse token as well as Decentraland surged by almost 35% so let’s read more about it in today’s latest altcoin news.
Following the week’s crypto market collapse, the gaming tokens surge and are seeing some bigger recoveries. The market is up by 8% over the past day after many days of significant losses. The gaming tokens are seeing major gains like GALA, GMT, and MANa. It has been a brutal week for the crypto marekt with billions of dollars worth of value wiped off the map as LUNA and UST crashed and dragged most of the market along with them. After a few days marked by declines, the crypto prices are perking up with the wider market being up by 8% in the past day with BTC and ETH logging solid gains, and altcoins like Cardano, Avalanche, and Solana up by 20%.
MANA 24-hour Price Chart (Source: Coingecko)
The gaming and metaverse tokens are seeing some bigger price increases including a few that surged by 40% as per the data from CoinGEcko. Gala Games and DEcentraland match the description. GALA is up by 50% over the past day at a current price below $0.10 and it is still down by 27% over the past week but started to claw back some of the lost value. In the meantime, MANA increased 41% to $1.1 in the past day. The competing metaverse game The Sandbox saw its SAND token gain 19% and both tokens lost most of the value gained since last October when FB revealed plans for the metaverse.
SAND 24-hour Price Chart (Source: coingecko)
The GMT token of the running game STEPN is up by 39% to $1.66 and enjin Coin also gained 26% at the time of writing, to a price of $0.74. Apecoin is the recently launched Ethereum-based token of the Bored Ape Yacht Club which hasn’t logged a dramatic upward surge of 9% in the past day to a price of $9.21. Given that it was trading under $6 it is another gaming and metaverse token that is bouncing back from the major lows.
We will see whether the gaming tokens can maintain the upward momentum after the rough few days or whether it is temporary relief before potentially adding losses ahead.