Bittime –Crypto was one of the most popular trends in the previous market cycle. While it hasn't shown a major spike in the current cycle, RON's all-time high price achievement and a wave of new investments this month could be the trigger for a return of interest in crypto gaming.
The poor performance of established gaming tokens such as AXS and SAND stands in stark contrast to the rapid rise of newcomers such as RON and BEAM .
This raises a critical question: Could these rising stars revive the crypto gaming trend this cycle?
Crypto Game Token Performance
Interest in crypto gaming was seen again last week with the announcement of MetaCene's $10 million funding round.
Animoca Ventures also participated in this private A round of funding. MetaCene aspires to be the premier MMORPG (Massively Multiplayer Online Role-Playing Game) on Web3.
This was followed by the announcement of the launch of MadWorld, a mobile NFT shooter game. This game managed to raise funds of $ 11 million supported by Andreessen Horowitz.
In comparison, Axie Infinity only raised $1.5 million in their seed funding round.
While interest in crypto gaming is on the rise again, it is important to note that a collection of the six largest gaming cryptocurrencies (white) significantly underperformed Bitcoin (orange). More specifically, BTC has increased by more than 60% while the gaming pool has only increased by 35% since the start of the year.
Although the movement of this gaming pool follows the trend of BTC, its rise occurs at a slower pace. On the other hand, some gaming tokens have individually managed to outperform Bitcoin.
Check Today's Crypto Market:
Can RON, BEAM, and GALA Buck the Trend?
An in-depth analysis of the movements of each cryptocurrency in the pool revealed that the overall performance was hampered by APE, AXS, and SAND. SAND (yellow) has only increased 6% since the start of the year.
In contrast, RON, BEAM, and GALA all saw increases of around 100%, with RON leading the charge at 102% (green).
APE is a relatively new token, while GALA was launched in 2021. The fact that both old and new tokens are among the top gainers and losers breaks the trend commonly seen with memecoins, where new tokens typically rise much faster than old tokens.
In RON's case, the presence of new games being released could potentially replace AXS and bring back interest in the Ronin sidechain.
Also Read: MANTA Token Released: Will Prices Rise or Fall?
Crypto Gaming Trend Underrated?
In conclusion, the crypto gaming trend is a little behind in this cycle because its performance is less than satisfactory.
However, upon closer inspection, this is because the three large-cap cryptocurrencies are performing poorly, dragging down the performance of the entire pool.
In contrast, RON, BEAM, and GALA managed to outperform Bitcoin this cycle, a feat that may continue throughout the year.
How are the prices of RON, BEAM, GALA today?
The following explains the prices of RON, BEAM, and GALA tokens today. The explanation is accompanied by graphic images taken from old Bittime.
The chart uses 3 indicators for market understanding for each token, namely RSI, Bolinger Bands, and MACD.
1. Today's RON Price
Source: Bittime
RON is currently priced at IDR 53,980. This price occurred after experiencing a price decline of -13.39%. The highest price for RON in the last 24 hours was IDR 62,743 and the lowest price was IDR 53,053.
2. BEAM Price Today
Source: Bittime
Above is the BEAM trading view chart. You can see, today's BEAM price is 497 IDR with a price decrease of -10.93% in the last 24 hours. This price has been consistent for approximately the last hour.
3. Today's GALA Price
Source: Bittime
Just like BEAM, GALA today also experienced a decline. The price fell by -13.67% so that now GALA is priced at IDR 871. Previously, GALA experienced its highest price at IDR 1,031.
Also Read How to Buy Crypto:
What Do Investors Need to Pay Attention to?
Investors interested in the potential rise of crypto gaming should pay attention to the following:
1. Performance of the Game Itself
Don't just focus on token price movements. It is important to assess the quality and excitement of the game, its player adoption, and its sustainable economic model.
2. Development Team
Find out who built the game. An experienced team with a good track record indicates a more promising project.
3. Community
Look at how active the community is around the game. A strong community can help promote a game and attract new players.
Conclusion: Crypto Gaming Isn't Dead Yet
The crypto gaming trend may not have fully returned to previous cycles, but the emergence of several well-performing tokens and new investments in the sector are positive signs.
Investors interested in the disruptive potential of blockchain gaming and its integration with the world of NFTs and DeFi should keep an eye on developments.
With game projects continuing to innovate and provide interesting gaming experiences, it is not impossible that crypto games will become a leading trend again in the future.
How to Buy Gala (GALA) on Bittime
You can buy and sell Gala (GALA) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Gala (GALA) is available on Bittime with the market pair GALA/IDR . To be able to buy GALA IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Gala (GALA) on Bittime .
Monitor price chart movements for Gala (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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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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