These Tokens Could Be the Future of Crypto Gaming in 2023
The overall cryptocurrency sector started the year 2023 with a positive outlook. Crypto gaming tokens are no exception to this trend. Important gaming news is that cryptocurrencies related to gaming have seen an average price increase of over 100 percent in January.
Growth Of Gaming Tokens
The January Gaming Roundup report by Delphi Digital, a cryptocurrency analytics platform, was released recently. One of the highlights is that the total price increases of the top 10 gaming tokens based on market size have been 102%.
According to the report:
Many of the most popular gaming tokens have seen triple-digit growth in the past 30 days. Gaming-related funding is also up compared with December.
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The report also suggested that prices of all the top 10 gaming tokens, ranked by market capital, had increased by at least 50% by January 25th. Some even saw a 200% increase compared to the beginning of January.
The average price of the top 10 gaming tokens increased by 102% in January. pic.twitter.com/D6gf0Gqloe
— February 8, 2023, Delphi Digital (@Delphi_Digital).
Bullish Price Movements
The report mentions that Apecoin and Axie Infinity, Sandbox, Gala, and Gala are some of the coins which have seen the greatest price increases in recent years. Enjin, ImmutableX and Magic, Wax are also mentioned in the report. ApeCoin (APE), which saw gains of almost 58% last month, has seen these gains slow down and even reversed in the past week. Despite this, APE is still up 46.26% year-to-date, trading at $5.65 as of this writing.
Axie Infinity (AXS), has remained relatively unchanged since January 25, when it experienced an 85.16% YTD price increase, according to CoinGape. The price of the altcoin currently trades at $11.51, a growth rate of 82.11% over the past year. SAND, which is the native token of The Sandbox metaverse, saw a huge price jump after it was revealed that the company had signed a deal with Saudi Arabia to develop metaverse initiatives.
The top 10 cryptocurrency gaming tokens ranked by market capital as measured by Delphi Digital’s report continue to build on their January gains. However, most of them recorded much better results during the first week in February when their average price increased by 116.46%. This is a piece of bullish gaming information for associated cryptocurrencies. However, the trend has changed more often than expected.
Also read: Bitcoin Price Flashes Buy Sign; Is This the Best Time to Buy BTC?
About the author
The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.