Gaming Tokens Ride Bitcoin, Ethereum Boom to All-Time High Prices

The tokens tied to gaming networks Xai (XAI) and Beam (BEAM) are amongst those who reached new peak costs, in accordance with information from CoinGecko, together with the tokens of crypto video games Heroes of Mavia (MAVIA) and Parallel (PRIME).

XAI, the token from the Arbitrum-based layer-3 gaming community of the identical title, spiked to a brand new peak worth of $1.39 in a single day earlier than settling barely to $1.30 as of this writing. On the present worth, XAI has a market cap of $359 million, and the token has jumped into the highest 200 cryptocurrencies by market cap. It’s up 13% over the previous 24 hours and 19% on the week.

The token simply launched in January as Xai rolled out a large airdrop to operators of Sentry Nodes, which help the community, in addition to homeowners of sure NFTs tied to the gaming community. The full worth of that 125 million XAI airdrop now sits above $162 million.

BEAM, the token of the Beam gaming community constructed on an Avalanche subnet, is up 10% as we speak to a present worth of simply above $0.035. It’s down solely barely from an all-time excessive of almost $0.036 on Monday morning.

Beam is operated by Benefit Circle, a gaming DAO (decentralized autonomous group), and has additionally built-in with Immutable zkEVM, an Ethereum scaling community for video games. With a market cap of almost $1.8 billion, BEAM is the 53rd largest cryptocurrency general by market cap and the second-largest gaming-centric token behind Immutable (IMX).

PRIME, the token of crypto buying and selling card recreation Parallel, additionally set an all-time excessive worth of $14.84 late Sunday, although it has dipped almost 7% since to a present worth simply above $13. Parallel, GG’s 2023 recreation of the 12 months, lately launched a new season of in-game content material and has been teasing an open beta launch within the close to future. It’s presently in closed beta.

And MAVIA, the newly launched token of cell technique recreation Heroes of Mavia, pumped Sunday to a brand new all-time excessive worth of $10.59. It has marked a sharper decline since surging to that peak, nonetheless, now down about 14% on the day to about $8.50 as of this writing.

MAVIA debuted lower than three weeks in the past and has spiked 370% since its preliminary launch. The Conflict of Clans-style crypto recreation rolled out an intensive roadmap over the weekend, exhibiting off plans for added NFT staking rewards, an upcoming announcement of a layer-2 scaling community to energy the sport’s crypto parts, and different bonuses and options forward.

Heroes of Mavia was launched on iOS and Android in January and airdropped tokens to 100,000 gamers and NFT landholders. Developer Skrice Studios now says that it has logged over 2 million downloads for the sport, with 278,000 each day energetic customers.

All 4 of those tokens initially launched inside the final 12 months, together with two of them to this point in 2024. That’s an necessary element as among the different largest gaming-centric crypto tokens are longer-running cash that set a lot increased peaks through the bull market runs of 2021 and 2022.

For instance, cash like IMX, The Sandbox (SAND), ApeCoin (APE), and Gala Video games (GALA) stay properly wanting their all-time excessive costs—and all of these besides Immutable are down greater than 90% from such peaks. Immutable has risen 74% over the previous 30 days, but it’s nonetheless down 65% from its all-time excessive worth of $9.52 set in 2021.

The previous day’s gaming token spikes got here amid the launch of PIXEL, the long-awaited token of buzzy crypto farming recreation Pixels on the Ronin Community. PIXEL has pumped 24% for the reason that Monday morning debut to a present worth above $0.62, placing its market cap at $821 million.

Edited by Ryan Ozawa.