finbold.com
2023 started with optimism for the larger part of the cryptocurrency industry, and crypto gaming tokens have been no exception. Notably, gaming tokens with the highest market capitalization have recorded an average price increase of more than 100% in January alone.
Indeed, the combined price gains of the top 10 gaming tokens by market cap during the previous month have amounted to 102%, which is one of the highlights of the January Gaming Roundup report by the cryptocurrency analytics platform Delphi Digital published on February 6.
As the platform tweeted on February 8:
“By January 25th, all of the top 10 gaming tokens by market cap had increased in price by 50% or more, with some even seeing as much as 200% growth from the start of the month.”
ApeCoin (APE)
Although its gains of nearly 58% between January 1 and January 25 have slowed down and actually reversed over the past week, ApeCoin (APE) is still recording a significant increase of 46.26% on its year-to-date (YTD) chart, at press time, changing hands at the price of $5.65.
Axie Infinity (AXS)
At the same time, Axie Infinity (AXS) is currently trading at the price of $11.51, recording an 82.11% increase YTD, its condition largely unchanged since January 25, by which it had recorded an 85.16% YTD price gain, as per Delphi Digital’s report.
The Sandbox (SAND)
Meanwhile, SAND, the native token of The Sandbox metaverse game, which had increased by 87.18% by January 25, has continued to grow in February, adding up to 107.63% YTD advance by the time of publication, according to the latest data obtained on February 9.
ImmutableX (IMX)
Having grown by 81.58% between the New Year’s and January 25, ImmutableX (IMX), the underlying platform for the game Gods Unchained, has since recorded even more impressive results in the first week of February, currently registering a 180.43% spike YTD as it trades at $1.07.
Enjin Coin (ENJ)
As for Enjin Coin (ENJ), the token of the social gaming platform Enjin Network, it had grown 70.83% in January, only to end up at the price of $0.51 as of February 9, which represents an increase of 108.68% since the year’s turn.
GALA (GALA)
In terms of the core utility token for Gala Games, GALA had progressed by 182.35% during the first month of 2023, and it has retained its bullish momentum so far during its second month, at press time measuring a YTD advance of 196.16% and trading at the price of $0.05.
MAGIC (MAGIC)
The most impressive gains among the top 10 gaming tokens were achieved by MAGIC, the fair launch token of Treasure, the decentralized video game console that connects games and communities through bottom-up-driven IP and infrastructure. By January 25, MAGIC had gained 124.48%, but by February 9, its YTD increases stood at 236.86%.
STEPN (GMT)
Furthermore, GMT, the governance token of STEPN, the self-proclaimed ‘Web3 lifestyle app’ with GameFi elements on the Solana (SOL) blockchain, had grown by 134.78% in January, although its rise was somewhat thwarted in recent days. At press time, GMT was trading at the price of $0.5, up 104.41% since the start of the year.
Illuvium (ILV)
In the meantime, Illuvium (ILV) had advanced 57.42% in the period between January 1 – 25, accumulating an even higher YTD increase by February 9, as things stand looking at a 124.4% gain, and changing hands at the price of $85.41.
WAX (WAXP)
Finally, WAXP, which is the native token of the WAX blockchain and Web3 gaming platform, witnessed an increase of 76.19%, which is lower than its recorded YTD growth of 87.03% by February 9, as the price of the WAXP token currently stands at $0.08.
Conclusion
All things considered, the top 10 crypto gaming tokens by market cap observed in Delphi Digital’s report have continued to add upon their January gains, most of them recording even more impressive results during the first week of February, as their collective average price improved by 116.46%.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.