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crypto gaming tokens surged over the past week as bitcoin's bullish wave opened opportunities for the broader crypto market.
Immutable X (IMX) price hit a two-year high on Sunday, while HThe price of eroes of Mavia (MAVIA) has more than quadrupled since the altcoin's debut on February 6.
Other altcoins in the gaming sector, such as BEAM, also made substantial gains last week, while promising pre-sale projects with gaming features including Meme Kombat and Sponge V2 have also flourished.
MAVIA, IMX and BEAM lead the crypto Gaming pack
SMEs, the token of the ethereum Immutable X gaming scaling network, was able to surpass the $3 mark on Sunday night. It has since fallen back to trading at $2.89 at 6:40 am EST, but is still up more than 30% over the past week.
The $3 threshold marks the highest price IMX has been able to reach since February 2022, according to data from CoinMarketCap. Following its rally last week, IMX was also able to claim a position in the list of the top 25 cryptocurrencies with the largest market capitalization. Currently ranked 22nd, IMX has a market capitalization of $3.92 billion and is the highest-ranked gaming token in the crypto market.
While it has a much smaller market capitalization of around $241 million, the token for the recently launched strategy game Heroes of Mavia, MAVIAwas the best performing gaming crypto in the last seven days with an increase of 153%. It is up 5% in 24 hours after paring previous significant gains. Its price has more than quadrupled from $1.83 on February 6 to $8.06.
BEAM It is the second with the best performance gaming crypto over the past week as it saw its price rise nearly 66% to set a new all-time high price on February 13.
Web3 gaming tokens are on the rise!
Web3 gaming tokens have seen an average increase of 13% over the past week.
The highest performance #GameFi projects in February: $IMX: Soared to a new 2-year high above $2.92, gaining a whopping 29% in just one week!
Other GameFi tokens that saw a… pic.twitter.com/iYcDoDvniF
– Sumit Kapoor (@moneygurusumit) February 13, 2024
crypto ICOs with gamification features also generated bullish sentiment
Some crypto gaming ICOs are also in the booming market. Investors are rushing into the initial phase of a Meme Kombat pre-sale, with funds raised exceeding $8.6 million in recent days.
Sponge V2, on the other hand, migrated to the highly scalable and efficient Polygon network on February 6 as it prepares for an early listing that is causing a lot of FOMO among investors. This project, successor to $SPONGE, has now staked and bridged tokens worth over $9.1 million.
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