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as a Bitcoin It goes, and so does most of the market – and video game-centric tokens will be particularly volatile given the sector of the gaming industry that such projects are trying to establish.
Those factors are playing into some deep bears for gaming-related crypto tokens early Thursday. Bitcoin is down 2% Prices up to $63,600 per day. BTC fell below the $63,000 mark earlier in the morning, and its 30-day loss now stands at 10%.
Some of the biggest gaming tokens—many of which are settled on Ethereum—have seen their prices drop by 10% or more in the past 24 hours, including the biggest of all: IMX, the token Ethereum Game network Immutable. Down about 9% in the last day, is IMX. It dropped to $2.09With a 32% fall over the past 30 days, CoinGecko has been compounding recent losses.
Another big drop Thursday comes from buzzy Ethereum token PRIME. NFT Card game ParallelIt has been on a correction over the past month after setting a new all-time high of $28 in mid-March. Now below $17, the token is down 13% in the last 24 hours and 24% in the last month.
Other popular gaming tokens with double-digit percentage drops over the past day include: Product Guild Games (YGG), down 8% to $0.92, and Portal (PORTAL), which dropped 7% to reach $0.94. And the GuildFi (GF) token has dropped 10% to $0.37 in the past day, erasing most of the gains seen earlier this week. In the midst of re-advertisement.
While those tokens have seen a particularly rough dip over the past day, other gaming tokens in the top 100 coins haven't taken a hit in market capitalization like IMX. For example, Gala Games (Gala) decreased by 2% per day Axie Infinity (AXS) increased by 6%, and The sandbox ( SAND ) fell 4.4 percent.
Gaming tokens were attractive during the first quarter of the year. Marking high profits As Bitcoin finally reached a new high in March Cut in half. At the same time, they like big new signs Pixels (pixels), Saga (SAGA) and Portal. It fell in the air for former fansEach reached a market peak of more than $500 million.
But in a cooling market for major crypto assets, long-lived gaming tokens are eroding some of the benefits — new ones at ever-lower prices.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and are not financial, investment or other advice.
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