Crypto Gaming Project Explodes 185% in Two Weeks As Layer-2 Ethereum Ecosystem Heats Up

A gaming-focused altcoin built on Ethereum (ETH) is recording big gains, leading most of the crypto markets over the last month.

MAGIC is the native token and “natural resource” of Treasure, a project that aims to be a decentralized video game ecosystem.

Originally built on top of the Ethereum mainnet, Treasure ultimately migrated to Arbitrum, an optimistic rollup scaling solution that settles transactions off-chain for lower fees. Arbitrum doesn’t have a token yet.

Treasure just launched a new Game Builders Program (GBP) to incentivize aligned, high-potential games building in the Treasure ecosystem. The program is supported by Arbitrum, according to a thread from Treasure.

Says Treasure,

“Why build with Treasure?

Building with Treasure launches games into a powerful flywheel of deeply connected communities and builders, strengthened through interoperability.”

Joining the GBP grants builders hands-on support from Treasure, according to the announcement.

To kick off the new year, MAGIC soared as high as 185%, from a low of $0.48 on January 9th to a high of $1.37 yesterday. The Arbitrum-based altcoin has retraced since and is currently trading at $1.18 with a market cap of $242 million.

Arbitrum isn’t the only Ethereum layer-2 enjoying growth. Optimism (OP), another leading Ethereum scaling solution, hit an all-time high of $2.50 on Saturday, which is a gain of around 175% since the open of 2023.

Polygon (MATIC), the largest Ethereum scaling solution by market cap, is currently trading at $0.99, up about 31% year to date.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines
&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Salamahin/Brian A Jackson