In the ever-evolving landscape of cryptocurrencies, gaming cryptos have emerged as a captivating investment avenue. These digital assets hold immense potential, as they combine the lucrative world of cryptocurrencies with the booming gaming industry.
If you’re looking to diversify your portfolio and capitalize on this exciting trend, here are the top 5 gaming cryptos to consider investing in right now.
Table of Contents
1. GALA Crypto Price Analysis
Gala (GALA) stands at the forefront of blockchain-based gaming crypto platforms. As the native token of the Gala Games ecosystem, GALA holds promise for both gamers and investors alike.
The Gala Games platform empowers developers and players by allowing them to create, own, and trade in-game assets. This innovative approach to gaming has garnered attention, driving GALA’s growth.
Current Price : $0.0191
VOLUME (24H): $28.1M
MARKET CAP: $445.4M
CIRCULATING SUPPLY: 23.2B GALA
On daily timeframe level the price action of $GALA formed out Descending Channel pattern level.
The price action is also consolidating at its Support level which can show us some upward movement towards its FVG.
2. SAND Crypto Price Analysis
The Sandbox (SAND) offers a metaverse where players can create, own, and monetize their gaming experiences. SAND fuels this immersive world, allowing players to own virtual real estate and game assets.
With partnerships featuring renowned brands like Atari and Shaun the Sheep, The Sandbox has established itself as a key player in the play-to-earn ecosystem.
Current Price : $0.32
VOLUME (24H): $40mn
MARKET CAP: $660mn
CIRCULATING SUPPLY: 2.1bn SAND
The price action of $SAND on macro timeframe level formed out Head and Shoulders pattern level where the price action broke down the Support Trendline level
Marked out the Sell Side Liquidity level after an successful retest level above we can see further downwards movements as higher timeframe is bearish.
3. IMX Crypto Price Analysis
Immutable X (IMX) addresses a critical issue in the gaming crypto world—scalability. Operating on Ethereum, IMX employs layer-2 scaling solutions to ensure fast and cost-effective transactions.
As blockchain games gain popularity, IMX’s role in facilitating seamless in-game purchases and trading solidifies its position as an enticing investment opportunity.
Current Price : $0.56
VOLUME (24H): $13.4mn
MARKET CAP: $628mn
CIRCULATING SUPPLY: 1.1bn IMX
On Daily timeframe level the price action of $IMX broke down the Horizontal Support leve of its Descending Triangle pattern level where the price action took out all the liquidities at Daily Sell Side level where Market Structure Shift also is marked
If the price action breaks the MSS level and closes below it we further expect to see the downward movements.
4. AXS Crypto Price Analysis
Axie Infinity (AXS) has taken the gaming world by storm with its play-to-earn model. Players collect, breed, and battle fantasy creatures called Axies, earning rewards in AXS tokens.
This innovative concept has led to a vibrant community and skyrocketing demand for AXS. As the crypto gaming sector continues to flourish, AXS remains a captivating investment choice in the section of gaming cryptos.
Current Price : $4.72
VOLUME (24H): $16.2mn
MARKET CAP: $668mn
CIRCULATING SUPPLY: 141mn AXS
On a daily timeframe level the price action of $AXS consolidates within the Descending Triangle pattern level where the price action
The price action has left out the FVG gap level between the $5.16 to $4.96 level.
5. ENJ Crypto Price Analysis
Enjin Coin (ENJ) pioneered the concept of non-fungible tokens (NFTs) in gaming, enabling the creation and ownership of rare in-game items in gaming crypto industry.
With partnerships with prominent gaming companies like Microsoft and collaborations with popular franchises like Minecraft, ENJ’s value proposition is undeniable. The intersection of NFTs and gaming positions ENJ for sustained growth.
Current Price : $0.87
VOLUME (24H): $9.1mn
MARKET CAP: $240mn
CIRCULATING SUPPLY: 1bn ENJ
On weekly timeframe level the price action broke down the Support Trendline level and retesting out there
If the price action closes below the MSS level we can further see the downwards towards till its next Sell Side Liquidity level.
Conclusion
As the worlds of gaming and cryptocurrency converge, these top 5 gaming cryptos—GALA, SAND, IMX, AXS, and ENJ—hold the potential to deliver thrilling returns for investors. However, remember that the crypto market is volatile, and it’s crucial to conduct thorough research and consider your risk tolerance before investing.
The exciting innovations and disruptive potential of these gaming crypto tokens make them intriguing candidates for a diversified investment portfolio.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
