Gaming Tokens Benefit From Market Rebound as Immutable X, Gala, PlayDoge Make Gains

The cryptocurrency market is recovering from the crash, and GameFi Coins are reaping the benefits today, with Immutable X and Gala both up over 10%.

Riding a steady upward trend that began on July 5, the GameFi sector is poised to welcome investor interest, with daily trading volume hitting $2.5 billion.

Immutable X pumps double digits

The best gaming token of CoinMarketCap data– Immutable X (IMX), has grown by 11.72% over the past 24 hours, becoming the 41st largest cryptocurrency by market cap. With a value of $1.62, IMX has seen a steady growth in daily trading volume of 8.36%.

As a leading GameFi layer 2 solution with over 300 games, Immutable is perfectly positioned to capitalize on the growth of the market. Part of this growth is driven by Immutable zkEVM which has become one of the fastest growing chains in history, reaching 2.2 million users in just 3 months.

Immutable has seen steady growth over the past week, with an overall increase of 23.7%. This comes on the heels of a record-breaking month in June, where Immutable partnered with gaming giant TradFi MARBLEX and made massive upgrades to its protocol funding.

Immutable hasn’t quite recovered from the slump it’s been in along with the rest of the market, up just 2.3% over the past month. However, with its value doubling over the past year and more and more games launching on the platform, the future looks bright for IMX.

Other GameFi tokens are also rising

Brought to you by the same developers as IMX, Gods Unchained (GODS) has seen a 73.3% increase in the last 24 hours, with a massive spike in daily trading volume of 798.61% to $21,341,615. The rising market and new card releases have revitalized the player base, and the token has risen with it.

However, skeptics are wary of GODS’s growth, trading at $0.3054, far from its all-time high of $8.80 per token. It is possible that Gods Unchained will return to a bearish trend as the Reddit community has slowed down again and its biggest problem remains P2W (pay-to-win) with the best decks costing hundreds of dollars.

Blockchain gaming platform Gala (GALA) has seen a much more modest 8.35% growth to $0.02573 per token. This is largely due to the ever-growing popularity of games on its platform, with clicker game TreasureTapper recently trending on X (Twitter).

The platform maintains a massive X (Twitter) community with over 800,000 followers, sharing GameFi news and educating them on broad blockchain topics. Up 17.61% over the week, Gala looks set to continue its steady growth.

Could PlayDoge be the next big GameFi token?

It’s not just established gaming tokens that are benefiting from the market recovery: a new entry named PlayDoge It’s also creating a stir.

PlayDoge (PLAY) is the native token of the game of the same name inspired by the Tamagotchi games of the 90s. It combines P2E gaming with the appeal of meme coins.

PlayDoge has already raised over $5.7 million in its pre-sale and is currently selling for $0.0052 per token.

The project includes the launch of a game where players can take care of their virtual doges and enjoy a series of minigames, all with the possibility of earning rewards in tokens.

To ensure that investors feel confident about their funds, PlayDoge has complied with a Solid proof safety audit, passed with flying colors.

The token has already attracted interest from leading industry experts, with companies like 99Bitcoins predicting 50x to 100x potential.

The tokenomics behind PLAY is perfect for early investors. A whopping 50% of its total supply of 9.4 billion tokens is allocated to the presale. Another 12% is dedicated to staking, and 10% is allocated to marketing to ensure the coin stays in the spotlight.

With the simultaneous rise of GameFi and meme coins, PlayDoge is attempting to bid to take off with its DEX listing.

Visit PlayDoge Pre-Sale

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