Ethereum Gaming Tokens Soar: Illuvium, Ronin, and Immutable See 50% or More Increase
Cryptocurrency tokens linked to gaming networks and popular games within the Ethereum ecosystem have experienced significant gains in a market that is predominantly bullish. Illuvium (ILV), Ronin (RON), and Immutable (IMX) are among the tokens that have seen massive double-digit percentage increases over the past week.
Illuvium, an anticipated NFT game that operates on Immutable X, has witnessed an impressive 86% price surge in the past week, with the current price standing above $95, according to data from CoinGecko. Over the last month, the game’s token has more than doubled in value, showcasing a remarkable 141% increase.
The majority of Illuvium’s recent gain can be attributed to Wednesday’s announcement by its creators. They revealed that the game is set to launch on the Epic Games Store, a prominent marketplace for mainstream PC games. Furthermore, the next beta test for the game is scheduled to be released later this month.
Immutable’s own token, IMX, has also experienced a surge, with a 50% increase in value this week, reaching a current price of $1.04 per token. During the past month, IMX has doubled in price, exhibiting an impressive 103% growth. The Ethereum scaling network, which focuses on gaming, has made several significant announcements, including a partnership with Assassin’s Creed maker Ubisoft.
RON, the token of the Ronin network, an Ethereum sidechain, has also emerged as a major winner this week. The token’s value has risen by 53% to reach $0.78, and it has experienced an 88% increase over the past month. The Ronin network, renowned for hosting Axie Infinity, has seen a surge in active users following the successful launch of Pixels, another play-to-earn title.
GALA, the token associated with the Gala Games ecosystem, has witnessed a 33% increase this week and an 87% surge over the past month. Additionally, Axie Infinity’s AXS token has grown by 12% this week and nearly 46% over the last month. The SAND token of The Sandbox has also experienced a 12% weekly increase and a 45% rise over the past 30 days.
These gains surpass the performance of the most valuable cryptocurrencies in the market. For instance, Bitcoin has risen by nearly 8% this week and 39% over the past 30 days, while Ethereum has seen a 16% surge this week and an almost 35% increase during the past month.