Crypto gaming tokens like Axie Infinity, Ronin, and Illuvium surged, with ApeCoin reaching a three-month high.
The recent week witnessed a notable rise in gaming-related cryptocurrency tokens, with Axie Infinity (AXS), Ronin (RON), and Illuvium (ILV) leading the pack among the top 100 cryptocurrencies in terms of market capitalization. This surge also saw ApeCoin (APE) reaching a three-month peak during the weekend.
Axie Infinity and Ronin Surge
Axie Infinity, with its AXS token, showcased a remarkable performance, climbing by 12% in the past week. CoinGecko data indicates a current price of $6.88 for AXS. The token achieved a near six-month high during the weekend, touching $7.55. This surge represents a 35% increase over the past month, a significant gain compared to its counterpart, Smooth Love Potion (SLP), which saw a 9% decrease in the same period but still managed a 17% rise from the previous month.
Sky Mavis, the developer behind Axie Infinity, has been active with announcements that likely fuelled this growth. They reintroduced the original monster battling experience in Axie Infinity, known as “Axie Classic,” and launched the first series of official Axie merchandise. Additionally, Sky Mavis granted commercialization rights to rare Axie NFT owners, allowing them to create products and projects from their digital creatures.
The Ethereum sidechain network Ronin, specifically tailored for blockchain gaming and associated with Axie Infinity, has also seen a surge in momentum. The recent launch of the new game Pixels significantly boosted Ronin’s adoption, with its RON token jumping 27% in the past week. This increase resulted in the token’s price more than doubling in the last 30 days, currently priced at $1.06.
ApeCoin and Other Gaming Tokens on the Rise
ApeCoin (APE), linked with the Bored Ape Yacht Club NFT ecosystem and the upcoming Otherside metaverse game, recorded a 7% rise over the past week. The token’s price peaked at $1.77 over the weekend, its highest in over three months, and currently stands at $1.63.
Other gaming tokens like Stepn (GMT) and Illuvium (ILV) also reported significant gains. GMT rose by 11% this week to nearly $0.29, while ILV continued its upward trajectory with a 9% increase, reaching around $114. Moreover, the Treasure (MAGIC) gaming ecosystem token soared nearly 24% to $0.83 following its announcement to launch its own blockchain.