Gaming Tokens Crash Hard as Bitcoin Falls In front of Halving

The crypto markets happen to be bleeding red in recent days, a stumble in front of the Bitcoin halving presently expected on late Friday—but gaming tokens took a few of the hardest hits, with a few notable tokens lower by greater than 30% and hitting all-time affordable prices.

The cost of BTC is lower by over 12% now, falling close to $61,500 at this moment after being above $71,000 the 2009 week. And Ethereum has fallen by almost 15% during the last week, presently just $3,000.

Many major tokens have marked much more substantial drops now, with Solana plunging by 22% and Avalanche lower 28% in the past 7 days. However, many gaming tokens do a whole lot worse over that span, based on data from CoinGecko.

GALA, the token from the Gala Games ecosystem, is getting a level harder week because of a 32% plunge to some current cost of approximately $.04. Immutable (IMX), probably the most valuable gaming token having a $2.7 billion market cap, is faring slightly better in a 27% drop to $1.89. However the Ethereum scaling network’s token has fallen by nearly 50% in only more than a month.

Gaming tokens launched this season are some of the most battered from the bunch, with Pixels (PIXEL) lower 39% within the last week alone to some current cost of approximately $.40, the Xai (XAI) gaming network’s token lower 34% to $.68, and Portal (PORTAL) plunging 34% in the last 7 days to $.99. Pixel and Portal tokens both hit all-time lows on Saturday.

However, many prominent longtime tokens are not doing far better now. Axie Infinity (AXS) and ApeCoin (APE) are generally lower 27% now, The Sandbox (SAND) has dipped by 28%, and Illuvium (ILV) has came by 29%.

There’s one rare exception: the GOG token of Guild of Guardians, a mobile fantasy game from Immutable that’s finally releasing in May after many years of public development, expires 69% around the week to some current cost above $.29.

A week ago, Immutable announced a crossover event with card-battler Gods Unchained, that will launch a Guild of Guardians-themed expansion.

Edited by Ryan Ozawa.

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