Bittime – Beware of crypto players and investors! Crypto gaming projects such as ApeCoin, Pixel, and others are preparing to unlock their tokens worth a total of $250 million in U.S. dollars by the end of March 2024. This could potentially cause fluctuations in the price of related tokens.
In the coming weeks, a large number of tokens associated with crypto gaming projects will hit the market. This is feared to affect the price of the token.
List of Tokens Ready to Be Circulated at the End of March
Here are the details:
1. ApeCoin (APE)
Tokens built on Ethereum and linked to the Bored Ape Yacht Club ecosystem including the Otherside metaverse, will unlock 15.6 million APEs on March 16. This is worth about $38.2 million at current prices and represents 2.55% of the total outstanding supply.
2. Pixels
The farm game will do its first key opening on March 19. A total of 54.38 million PIXEL tokens will be opened, representing more than 7% of the outstanding supply. This is equivalent to $42.5 million based on current prices.
3. Immutable X (IMX)
This Ethereum-based token will experience the largest unlock on March 21 with a total of 34.19 million IMX. It has a value of about $117.3 million at current prices, or the equivalent of 2.5% of the total circulating supply.
4. Yield Guild Games (YGG)
Will unlock 16.69 million YGG on March 27.
5. Parallel
This NFT card game will unlock 1.66 million PRIME tokens on March 30.
6. Green Metaverse Token (GMT)
Will unlock 3.32 million GMT on March 31.
Check the Crypto Market Today:
What is the Current Condition of Crypto Gaming Token Price?
ApeCoin (APE) saw a slight price drop in the last 24 hours, down from $2.64 to $2.35.
Meanwhile, the Ronin crypto gaming project is actually being discussed a lot. Their token, RON, has just hit an all-time high (ATH) price driven by the Pixels game hype. In fact, the RON jumped 45% in the past seven days, hitting an ATH price of $4.45 on Monday.
The price of Ronin itself has more than doubled in the last three months. This is thanks in large part to the popularity of Pixels, a social farming game built around NFTs and PIXEL tokens. The price of the PIXEL token itself has risen to $1 in the last seven days, but is currently down to $0.76.
MetalCore's New Blockchain Game Wins $5 Million US Dollars Funding
In addition to news about token unlocking, the world of crypto gaming is also enlivened by the emergence of a new blockchain game called MetalCore. This game managed to get venture capital (VC) funding of $5 million US dollars.
MetalCore is an innovative massive online multiplayer fighting game (MMO) developed on the blockchain. The development team behind MetalCore consists of experts from Unreal Engine Studio 369, Disney, and Lucasfilm.
Currently, MetalCore has not been officially launched. The plan, this game will be released at the end of 2024. It is not yet known which blockchain will be used for this game.
However, what is known is that the blockchain component will be used as a game resource. For example, weapons and vehicles in the NFT version can be exchanged in the secondary market.
Analysis of the Potential Impact of Token Release
Although the potential price fluctuations of crypto gaming tokens are a concern, let's analyze it more deeply:
Short-Term Selling Pressure: The release of a large number of tokens in a short period of time can cause short-term selling pressure, especially for tokens with a smaller market capitalization. This has the potential to lower the price of the token.
1. Attractive Purchase Opportunity
Conversely, the token release can also be seen as an attractive buying opportunity for long-term investors who believe in the future of crypto gaming projects. Temporary price drops can be an opportunity to get into promising projects.
2. The Importance of Fundamental Research
Before making an investment decision on the crypto gaming token that will be unlocked, it is important to do fundamental research. This includes studying token utility, project business model, developer team, and potential future adoption.
Promising Crypto Gaming Trend
Despite the potential price fluctuations, the crypto gaming sector as a whole is showing a promising trend. More and more users are interested in the concept of play-to-earn and ownership of digital assets in the game.
1. Mainstream Adoption
Traditional gaming companies are starting to glance at blockchain technology and integrate it into their games. This could drive crypto gaming adoption into the broader realm.
2. Sustainable Play-to-Earn Model
A successful crypto gaming project focuses on developing engaging gameplay and a sustainable economic model. This ensures the longevity of the project and appeal to the players.
Also Read How to Buy Crypto:
Conclusion
The release of large amounts of tokens from crypto gaming projects can indeed cause price fluctuations. However, this can also be an investment opportunity for observant investors.
Crypto gaming players and investors are advised to do in-depth research before making a decision. The crypto gaming sector itself has high growth potential, supported by a growing adoption trend and an attractive play-to-earn model.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure if you have enough balance by depositing a certain amount of funds into the wallet. For your information, the minimum purchase of assets on Bittime is Rp10,000. After that, then you can buy crypto assets in the application. Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptocurrencies to find out today's crypto market trends in real-time on Bittime.
Also Read:
PIXEL Airdrop: PIXEL Token Release Date and Latest Free Airdrop Schedule
5 Best Rollup Tokens to Buy Before Ethereum Dencun Upgrade
Investors Lose 2 Million Dollars of Ethereum Due to Cunning Phishing Scheme
DISCLAIMER: This article is informational and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. The price of crypto assets is volatile, where the price can change significantly over time and Bittime is not responsible for changes in fluctuations in the exchange rate of crypto assets.
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