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The GameFi market cap has increased to $28.6 billion, and as a result, there is a lot of hype and excitement surrounding gaming tokens. These cryptocurrencies could soon see a major level of growth as crypto games and overall communities are thriving.
The entire market has seen a bullish rally since Bitcoin’s recent uptick to its all-time high. At this rate, the GameFi sector can potentially explode in value. Today, we will go over the top 5 gaming tokens to jump into, including KangaMoon (KANG), Immutable (IMX), GALA (GALA), Enjin Coin (ENJ), and Illuvium (ILV). By the end, we will see which is one of the best play to earn games and tokens to get.
Catalysts for the Current Gaming Token Price Jump
Bitcoin recently surged above the $70,000 level for a brief period. That was a catalyst for the growth of the entire market. GameFi was one of the sectors that was positively affected by this. Most utility tokens began making a comeback as well. Since gaming is one of the most popular sectors in the blockchain space, it saw a tremendous uptrend.
Many blockchain gaming ecosystems began partnering with venture capitalists and tech leaders to gain more popularity. Meme-based gaming also went viral, where projects such as KangaMoon made significant waves through their vast utility and earning opportunities.
Top 5 Gaming Tokens To Diversify for Staggering Gains in 2024
We will be jumping far deeper into our picks for the top gaming tokens to get during 2024. These tokens could potentially become the biggest gainers this year and beyond.
KangaMoon (KANG)
KangaMoon (KANG) is an upcoming project that will introduce Social-Fi elements and a community-driven approach, alongside Play-to-Earn (P2E) features. These could result in major momentum within the GameFi market. Recently, crypto experienced a growth of 290%, moving from $0.005 to $0.0196. In addition, it raised $4.7 million and could break above the $5 million mark by the end of the week.
The key catalyst for this growth is its vast ecosystem. On top of KangaMoon, anyone can earn KANG tokens or NFTs by engaging with their KangaMoon characters. Through them, players can battle others, complete tournaments, or even spectate and place bets on fights. The marketplace is another major part of its ecosystem, where anyone can buy, sell, or trade NFTs. Analysts are now bullish on the future of the KANG token. They project a 5,000% price increase following its launch and major exchange listings. These aspects position KangaMoon as one of the top play to earn games.
Immutable (IMX)
Immutable (IMX) is a platform that provides Layer-2 solutions on Ethereum. It also provides APIs and development tools, which make it easy to build Web3 games on top of that network. Through this platform, anyone can amplify their capabilities to create, launch, and distribute games faster without compromising security.
The year-to-date (YTD) climb for the Immutable price was 170.4%. In the past week, the Immutable crypto moved up from $2.60 to $2.89 and, at this rate, could soon break even above the $3 price barrier. Its RSI and MACD data are bullish. According to the Immutable price prediction, the crypto can end Q4 of 2024 at a value of $3.32. Thus, it can be one of the best crypto games.
GALA (GALA)
GALA (GALA) is the utility cryptocurrency utilized across the Gala Games platform. This platform enables players to earn cryptocurrencies and non-fungible tokens (NFTs) through engaging in various gameplay elements. It is built on top of the Ethereum blockchain.
As for the GALA price performance, the crypto is up by 67%. The GALA crypto also experienced a 15% upswing within the past week. During this time, the crypto rose from $0.05425 to a maximum value of $0.06762. Consequently, the sentiment on its future is optimistic. According to the Gala price prediction, it can end in 2024 at $0.0867.
Enjin Coin (ENJ)
Enjin Coin (ENJ) enables anyone to buy, sell, or trade digital items. It also verifies and manages the authenticity and value of items through the blockchain. Through its software, each developer can easily create and manage virtual goods on top of Ethereum. The Enjin Coin crypto is utilized within the ecosystem. It is essential for buying, selling, or trading any of these items.
As for the recent performance of the Enjin Coin price, the crypto went up 10% during the past week. During this time, the crypto climbed from $0.4153 to a maximum value of $0.4776. As a result, its RSI is now above 50, and at this rate, the crypto could soon break above the $0.5 price barrier. If it does so, sentiment on its future is massive. The Enjin Coin price prediction suggests it can end 2024 at $1.00.
Illuvium (ILV)
Illuvium (ILV) is a major GameFi project, an MMORPG (Massively Multiplayer Online Role Playing Game) built on the Ethereum blockchain. On top of this game, anyone can search its universe and earn. They can create NFT creature collectors and an auto-battler as well. It is also considered one of the first interoperable blockchain games, and the Illuvium crypto has historically grown in value significantly.
The year-to-date (YTD) climb for the Illuvium price was 130%. In addition, during the past week, the crypto went up by 7.3%, growing from $118 to $137.52. At this rate of growth, ILV can reach new heights in 2024.
Based on the Illuvium price prediction, it can end 2024 at $185.59, positioning it as one of the most solid NFT games.
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
