Gaming Cryptos Recover The Most After Latest Crash, Here’s Why

Several gaming and metaverse tokens blew past the crypto market on Friday as major cryptocurrencies recovered from a recent rout.

The tokens were supported by whale buying, as well as investors looking into tokens with utility-based projects behind them.

The cryptocurrency market rose over 14% in the past 24 hours, and is now valued at $1.32 Trillion. Bitcoin also regained a crucial $30,000 level. 

GALA leads recovery

Gaming tokens like GALA, ApeCoin (APE) and STEPN (GMT) have emerged as the top gainers among the biggest tokens. The total gaming token market capitalisation has jumped by a massive 42% in the 24 hours. The cumulative gaming token’s valuation stands at $14.23 Billion. Meanwhile, its 24 hour trading volume is up by 21% to stand at $11.7 Billion.

The GALA token has surged by a whopping 82% in the last 24 hours. It has come out as the biggest gainer among the top 100 cryptocurrencies at the same time. According to WhaleStats, the biggest Ethereum (ETH) whales have shown their interest in the GALA token. The token has landed in the list of the top 10 coins purchased by ETH wallets in the past 24 hours. The ETH whales are holding over $18.7 million worth of GALA tokens. Meanwhile, $4.92 million has been liquidated in the last 24 hours.

ETH whales buy the dip

ApeCoin is the most hyped and talked about project since its inception. The APE token has jumped by 70% in the last 24 hours to trade at $$9.2. APE’s 24 hour trading volume is up by 62% to stand at $2.7 Billion. The ETH whales have added another $5.4 million worth of APE tokens in the last 24 hours taking advantage of the price dump.

The STEPN is the other token that has surged to land among the list of top gainers. Then GMT token is up by 71% in the last 24 hours. The STEPN token is just another token after ApeCoin which has continued to surge in the past 60 days. It is up by 340% in the last 60 days.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.