Gaming Tokens Gala, Pixels, and Parallel Hit Record Highs as Bitcoin Trails Behind

Gaming Tokens Gala, Pixels, and Parallel Hit Record Highs as Bitcoin Trails Behind

Crypto News – The world of cryptocurrency witnessed a remarkable surge over the weekend, particularly in tokens associated with video games and gaming ecosystems. Notable tokens soared to unprecedented heights, while others reached their highest valuation in years, coinciding with Bitcoin‘s brief return to the $70,000 threshold.

GALA, the token within the Gala ecosystem, emerged as the standout performer in this weekend’s rally within the gaming and metaverse sectors. Its price surged by a staggering 42% over the past 24 hours, reaching nearly $0.08, according to data from CoinGecko. Earlier on Sunday, it even flirted with $0.085, marking a remarkable 77% increase over the week and an astounding 230% surge over the past month.

While pinpointing a singular catalyst for this sudden uptick is challenging, Gala’s recent activities and the anticipation among long-term holders for a breakout likely contributed. Gala recently introduced its GalaSwap decentralized exchange (DEX) on its native GalaChain network and is currently sponsoring a $1 million hackathon at the upcoming Game Developers Conference.

The surge propelled GALA into the top 50 cryptocurrencies by market capitalization, as per CoinGecko. Nevertheless, the token still trades more than 90% below its all-time high of $0.82 reached in November 2021.

In other developments, the cryptocurrency associated with the booming crypto farming game, Pixels, and its underlying network, Ethereum scaler Ronin, experienced significant gains. The PIXEL token surged to a new all-time high above $0.94 overnight, merely weeks after its launch, settling at $0.88, marking a notable 63% increase over the week.

The surge in PIXEL coincides with data indicating a burgeoning interest in the game, with a peak of over 500,000 daily active users. Concurrently, the Ronin network’s RON token reached $4.05 overnight, marking its highest price in over two years. Although it narrowly missed surpassing its all-time high of $4.29 from January 2022, it still recorded a 24% increase over the past week.

Another token within the Pixels ecosystem making waves is Yield Guild Games’ YGG token, which surged by 64% this week following its announcement as the game’s guild infrastructure partner.

PRIME, the token associated with the NFT card game Parallel, also witnessed a significant surge, hitting a new all-time high of $19.78 early Sunday, marking a remarkable 132% increase over the past 30 days. This surge follows Parallel‘s expansion to beta for all players and a recent giveaway promotion by major cryptocurrency exchange Coinbase to attract new users.

Additionally, the BEAM token within the Beam gaming network reached an all-time high of $0.044 early Sunday, while Immutable’s IMX, the largest gaming token by market capitalization, spiked to a two-year high of $3.62 on Saturday.

Axie Infinity’s AXS governance token recorded a 75% increase over the past 30 days, currently priced at $13, while Iluvium’s ILV token surged to $155 overnight, marking its highest point since June 2022. Across CoinGecko’s list of GameFi tokens, substantial gains were evident.

Interestingly, many of these gains outpaced those of Bitcoin, the foremost cryptocurrency by market capitalization. Despite briefly surpassing $70,000 on Sunday, Bitcoin’s current price hovers just below $69,500, reflecting an 11% increase over the past week.