In summary
- Speculation about the approval of a Bitcoin ETF boosted the crypto market, largely benefiting gaming and metaverse tokens.
- Gala Games’ GALA token rose 42% in the last week, reaching $0.02.
- Axie Infinity’s AXS, ApeCoin, and MANA also posted significant gains.
Speculation over a possible approval of a Bitcoin exchange-traded fund (ETF) over the past week has boosted the broader cryptocurrency market, causing several gaming and metaverse tokens to experience large double-digit gains over the past week.
GALA, the Gala Games ecosystem token, has been the biggest gainer among major gaming tokens in the last week, rising 42% to a current price of $0.02 according to CoinGecko.
However, even with a drop of almost 7% in the last day after reaching its recent high on Sunday afternoon, GALA is still almost 98% below its high price of $0.82 set in November 2021, when The cryptocurrency market reached an all-time high. Sunday’s spike was the highest price recorded for GALA since mid-August.
Another big winner in the gaming space in the last seven days is AXS, the governance token of the play to earn game, Axie Infinity. AXS is up 28% in the last week, to a current price of $5.76, at the time of writing, and almost reached $6.00 on the previous Monday. Like GALA, it reached the highest price since mid-August.
And after months of steady decline, ApeCoin (APE), the Bored Ape Yacht Club’s Ethereum-based token, is up roughly 20% in the last week, reaching a current price of $1.36. The price reached as high as $1.42 on Sunday, from an all-time low price of $1.01 set in early October.
It is worth highlighting that ApeCoin will be used in Otherside, Yuga Labs’ metaverse game.
MANA, the token of metaverse game Decentraland, is up 21% this week to a current price above $0.37. Likewise, The Sandbox’s SAND token is up almost 15% in the last week to a current price of $0.35. Compare that to Bitcoin, which is up 10% in the last seven days to a price of about $34,330.
Gala Games is the publisher of numerous NFT-based video games, including Champions Arena and the upcoming Mirandus and The Walking Dead: Empires. Some of the GALA token’s most significant gains this past week came on Thursday, ahead of the launch of Legacya business simulator game from 22Cans, a studio formed by legendary developer Peter Molyneux.
Edited by Ryan Ozawa.
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source: decrypt.co