GameFi Tokens Skyrocket Amidst Bullish Crypto Market

Amidst a bullish trend in the crypto market, gaming tokens have witnessed a surge in value. Bitcoin and leading altcoins have reached new highs, while gaming cryptocurrencies like Immutable X, Beam, Gala, and MultiversX have also gained momentum. With this positive momentum, investors are considering their options to buy, sell, or hold these tokens.

GameFi Tokens Surge Amidst Bullish Market

The gaming token sector has experienced a remarkable surge in value during the past week, coinciding with the recent all-time high reached by Bitcoin. Leading altcoins, including Ethereum, Dogecoin, Cardano, and others, have also exhibited substantial gains.

Amidst this bullish trend, gaming-focused cryptocurrencies have also seen significant momentum. Immutable X, Beam, Gala, and MultiversX have all demonstrated positive performance throughout the week. This development has investors considering the optimal strategy: purchase, sell, or hold?

Immutable X: Ethereum's Scalable NFT Solution

Immutable X is a layer-2 scaling solution tailored for NFTs on the Ethereum blockchain. It prioritizes the security of users' assets while facilitating seamless NFT creation and trading. By utilizing a Zero-Knowledge Rollup engine, Immutable X achieves scalability, enabling a global NFT order book that enhances trading volume and NFT liquidity. Its mission is to enhance Ethereum's practicality and scalability.

As of April 18, 2024, Immutable X (IMX) is valued at $2.38 per IMX/USD. Its market capitalization stands at $2.70 billion, with a daily trading volume of $64.27 million. The coin has exhibited impressive growth over the past seven days, rising from $1.80 on April 17th to its current level. This price surge has captured the attention of traders, and the 2.10% change between market capitalization and 24-hour volume underscores the market's bullish sentiment.

Beam: Privacy-Centric Cryptocurrency

The BEAM Token is a privacy-centric cryptocurrency that employs smart contracts for asset transfers and transaction processing. It leverages two blockchain technologies, LelantusMW and Mimblewimble, to guarantee user identity, address balance, and transaction anonymity. Beam's blockchain infrastructure is entirely designed in C++ with the express purpose of safeguarding user addresses and transaction confidentiality at all times.

Beam's privacy features include the ability to conduct private transactions without revealing the identities of the sender, recipient, or transaction amount. These features are underpinned by the Mimblewimble protocol. Beam further enhances privacy through anonymous currency creation and burning via the Lelantus protocol.

Currently, Beam trades at $0.030, with a 24-hour trading volume of $33,351,100. Its live market capitalization stands at $1,593,697,237. Over the past seven days, Beam has witnessed a noteworthy surge in price, rising from $0.026 to its current level, representing an increase of nearly 25%. While the recent market rally may have contributed to this price surge, traders seeking to secure profits may consider selling at this point. Notably, Beam reached a weekly high of $0.033 during this period.

Investors are advised to carefully evaluate the potential value proposition of these gaming tokens before making any investment decisions. Market fluctuations are inherent in the cryptocurrency space, and investors should exercise due diligence and consider their own risk tolerance and investment objectives.