Bittime - Gaming tokens, crypto assets used in blockchain-based online games, are among the winners in the vibrant crypto market. The price of gaming tokens follows the rise of Bitcoin and Ethereum, the two largest cryptocurrencies that set new records. Gaming tokens offer exciting investment opportunities, while providing an enjoyable and profitable gaming experience.
What Are Gaming Tokens?
Gaming tokens are crypto assets used in blockchain-based online games. These tokens can represent various things, such as characters, items, currency, or collectibles in the game. Gaming tokens can also be traded, bought, or sold on online marketplaces, and can provide income or rewards to players.
Gaming tokens are one of the trending crypto categories, as they offer a more engaging, immersive, and profitable gaming experience. Some of the famous gaming tokens include Immutable (IMX), Beam (BEAM), The Sandbox (SAND), Axie Infinity (AXS), and Gala (GALA).
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IMX, SAND, GALA, and Other Game Tokens Rise
According to data from CoinGecko, as of today, many gaming tokens are experiencing price increases, led by Immutable (IMX)—the top gaming token by market cap. Immutable is an Ethereum scaling platform, which includes the Immutable X and Immutable zkEVM networks, allowing online games to run quickly and cheaply on top of the Ethereum blockchain.
The IMX token, which is used to pay transaction fees and participate in governance on the Immutable network, rose 9% in the past day to its current price of around $3.30 ($51,480). Despite being down from a recent high above $3.50 (IDR 54,600), the token has gained 48% in the last 30 days and has a current market capitalization of more than $4.5 billion (IDR 70.2 trillion).
Other network coins also saw gains today, with Beam (BEAM) rising more than 4% to above $0.04 (IDR 624), while the Ronin (RON) network—an Ethereum blocker behind popular games such as Pixels and Axie Infinity—recorded an 11% jump to $3.15 (IDR 49,140), reaching its highest price in the past two weeks.
XAI token from layer-3 gaming network Arbitrum, Xai, jumped 8% in the past day to its current price of around $1.43 (IDR 22,290), while MAGIC token from Treasure—another Arbitrum gaming network for various games—rose 6% today to $1.31 (IDR 20,430). And the GALA token from the Gala Games ecosystem rose 7% to a price above $0.044 (IDR 686).
In terms of prominent tokens related to individual games, the SAND token of metaverse game The Sandbox rose 5% today to $0.70 (IDR 10,920), the AXS governance token from Axie rose nearly 7% to $10.80 (IDR 168,480), and the PRIME token from the NFT card game Parallel rose about 8% to $15.72 (IDR 245,040).
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Causes of Gaming Token Price Rise
The surge in the price of gaming tokens is driven by several factors, including:
Positive Market Conditions
Momentum pasar kripto secara keseluruhan yang positif, yang dipicu oleh peluncuran dana Bitcoin berbasis spot yang didagangkan di bursa (ETF) di AS pada Februari, yang mendorong harga Bitcoin ke rekor tertinggi baru di atas $60.000 (Rp 936 juta) per koin. Ethereum, kripto terbesar kedua, juga mencetak rekor baru di atas $2.000 (Rp 31,2 juta) per koin.
Minat Pasar
New players and investors are interested in blockchain-based online games, which offer a more interactive, immersive, and profitable gaming experience. Blockchain-based online games allow players to own and control their digital assets, such as characters, items, and virtual lands, which can be traded or sold on online marketplaces. Some blockchain-based online games also provide income to players by sharing revenue or providing rewards in the form of gaming tokens.
Technology Innovation
Innovation and technological developments that continue to be carried out by blockchain-based online game developers, who seek to improve the quality, performance, and variety of their games. Some blockchain-based online games also collaborate with brands, celebrities, or famous personalities to increase the appeal and popularity of their games. For example, The Sandbox teamed up with Snoop Dogg, Deadmau5, and Richie Hawtin to create their own virtual worlds within the game.
With this surge, investors may see new opportunities in investing in gaming tokens, given the growth potential and profits that can be gained from the ever-growing gaming ecosystem. With Bitcoin and Ethereum approaching their highs, crypto markets, including gaming, will probably continue to attract investor interest for the foreseeable future.
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How to Buy Gala Games (GALA) on Bittime
You can buy and sell Gala Games (GALA) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Gala Games (GALA) is available on Bittime with the market pair GALA/IDR. To be able to buy GALA IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Gala Games (GALA) on Bittime.
Monitor the price chart movements of Gala Games (GALA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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Get to know Gala Games: The Complete Guide to Buy GALA Coins
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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