Despite GameFi's current volatile NFT market, several resilient projects experienced significant gains after the Bitcoin halving event. Based on their market performance and growth potential, these tokens are emerging as strong projects to invest in for substantial profits
With their unique matrix of decentralized technology's innovativeness and Play-to-Earn (P2E) models, these tokens can disrupt the crypto domain to new heights. Here’s a closer look at some of the best GameFi coins in the current cryptocurrency landscape.
KangaMoon (KANG)
Unlike other GameFi coins in the gaming industry, KangaMoon (KANG) is emerging as a top contender with a value proposition that goes beyond simple investing. The P2E gaming platform promises a vibrant ecosystem where users can play tournaments, battle out in matches, bet on the outcomes of these matches, and potentially earn rewards.
With the KANG token as the in-game currency, players can upgrade their KangaMoon characters and buy in-game items. Additionally, its unique SocialFi approach allows users to earn free KANG before the official launch by engaging with and promoting KangaMoon's social media content.
The move has enabled KangaMoon to garner over 20,000 community members and over 6,000 holders in its ongoing presale stage. Additionally, the GameFi platform has already raised over $5M and is now eyeing the $7M mark soon. More than that, the KANG token has witnessed a 290% ROI from its initial offering of $0.005 to its current price of $0.0196.
As a result, investors are trooping on its presale stage 5 in thousands. With a potential Tier-1 listing in Q2, experts foresee its price jumping to $0.5. KangaMoon has open access to the multi-million-dollar gaming industry, which is projected to increase in value to about $885M by 2028. With this view, many analysts are bullish about the KANG token, seeing it as the best GameFicoin to invest in 2024.
Immutable X (IMX)
As a layer-2 scaling solution for Ethereum, focusing on NFT minting and Web3 games, Immutable X crypto stands out as a top GameFi coin, capturing the attention of inventors with its impressive performance. While aiming to provide a seamless NFT trading experience, Immutable X has bolstered over 33 million NFTs minted gas-free and facilitated over seven million NFT trades.
Recently, Immutable X crypto has made notable developments and partnerships that have pumped up the trajectory of its native IMX. Over the last week, Immutable's price witnessed an over 3% recovery to trade at $2.20, attributed to the broader bullish market momentum after BTC's halving, where several other projects have seen massive price recovery.
Currently, Immutable Coin is also experiencing heightened market activities, with its market capitalization recording an 8% bounce to stand at $3.211B. However, its 24-hour trading volume is down 5.74% to $57M. With this view, many analysts are making bullish Immutable price predictions, signals its technical lookout signals green.
Beam (BEAM)
Initially emerging as a gaming-focused Avalanche subnet designed to enhance the GameFiecosystem, Beam crypto is evolving into a full-fledged ecosystem. The GameFi platform aims to simplify blockchain technology for everyday users, especially developers and gamers.
While not strictly a GameFi project, Beam crypto has attracted the broader market with its unique dedication to simplifying blockchain for gamers and, more importantly, building a user-friendly ecosystem. Looking at Beam’s price action on CoinMarketCap in the past week, it has made significant strides, rising by a staggering 21% to trade between $0.025 and $0.030.
The recent Beam price surge is attributed to the broader post-halving rally, as well as bullish Beam news concerning the Merit Circle $MC token migrating to $BEAM. Additionally, it registered increased market activities, with its market cap hitting $1.63B, a staggering 12% bounce, reflecting the broader investors' confidence. Experts believe that the Beam coin is among the top gaming coins to watch in 2024, suggesting it could rally to reach $0.086 by 2024.
Ronin (RON)
As an Ethereum Virtual Machine (EVM) compatible blockchain, Ronin Crypto was designed to address the unique needs of blockchain gaming, focusing on game player-owned economies. The network supports the growing number of P2E games in the broader crypto market.
Impressively, the Ronin coin has been experiencing significant gains in the last few days due to the broader market recovery. Despite the overall market experiencing a downtrend in the past week, the Ronin price remained resilient on charts, rising by 10% to trade between $3.13 and $3.44. Moreover, the Ronin coin has witnessed heightened market activities, with its market capitalization making a 7.99% bounce to $1.08B.
According to CoinMarketCap data, its 24-hour trading volume also pumped up by roughly $0.69% to stand at $16.04M. Ronin's price actions in the last week have attracted investors to the GameFi coin. If the upward trajectory for the Ronin price continues, experts predict that it could reach $4.0 by the end of 2024.
ApeCoin (APE)
ApeCoin is another emerging GameFi coin, currently enjoying significant gains, all thanks to the broader market rally. Designed on the Ethereum (ETH) protocol, ApeCoin crypto provides holders with unique services such as games, events, and merchandise.
Recently, the ApeCoin price has witnessed a stave-off recovery, rising by a staggering 9.35% to trade between $1.19 and $1.30, according to CoinMarketCap data. Moreover, the ApeCoincrypto has witnessed significant gains in its market capitalization, bouncing up by 4.0% to stand at $788M.
This comes after ApeCoin price witnessed a breakdown below its key EMAs, suggesting a bearish outlook for the GameFi coin. Remarkably, the new bullish trend is reflecting increased investors’ interest as well as the overall market rally. If ApeCoin's price continues to record green, experts foresee that GameFi coin will reach its peak by 2024.
Conclusion
Investors who understand the gaming world already know that the introduction of blockchain technology to the sector will take the domain to greater heights. It promises a vibrant, ever-changing gaming environment, with an opportunity to earn income as players play unique games. Impressively, KangaMoon stands out with its Play-to-Earn (P2E) concept, allowing players to earn rewards potentially.
Others bring unique features to the gaming world, from scalability to efficient infrastructure. The above gameFi coins have the potential to impact the gaming and crypto industries. Whether you're a seasoned P2E veteran investor or a newcomer, it's imperative to comprehend the risks associated with each crypto and its elevated volatility.
Discover the exciting opportunities of the KangaMoon (KANG) presale today!
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