2024

Beam

Ronin

Gala

<div class="cryptonews">
 <p class="is-style-lead">The cryptocurrency market recently experienced a downturn, with significant declines in gaming <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s as Bitcoin’s value approached $40,000.</p>
 <p>The cryptocurrency market declined on Monday, notably impacting gaming <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s. As Bitcoin (BTC) approached the $40,000 mark, gaming <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s experienced larger drops, according to CoinGecko.</p>
 <p>Immutable’s IMX <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> decreased by 8% to $1.80, as Beam (BEAM) and Gala Games (GALA) saw around a 7% decline. Axie Infinity’s AXS governance <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> fell over 6%, and its in-game SLP reward <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> dropped by 7%. The only <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> not experiencing a dip is Ronin (RON), which has increased by 34% in the past week, reaching a price of $2.32, and is now among the top 100 cryptocurrencies. It peaked at $2.52 on Sunday, marking its highest value since February 2022.</p>
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 <p>These market movements within gaming <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s reflect broader trends in the cryptocurrency sector. A recent CoinShares report indicates a modest outflow from digital asset investment products, totaling $21 million last week. Concurrently, Bitcoin trading volumes surged to $11.8 billion, seven times the average weekly volume observed in 2023.</p>
 <p>Such significant trading volumes in Bitcoin influence the wider cryptocurrency market, including gaming <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s. Additionally, investment patterns are shifting geographically. The United States recorded capital inflows of $263 million, whereas Canada and Europe experienced combined outflows of $297 million.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gaming-tokens-take-hit-from-bitcoin-s-dip-to-40k-tbt77346.html">https://thebittimes.com/gaming-tokens-take-hit-from-bitcoin-s-dip-to-40k-tbt77346.html</a></p>

Gaming tokens take hit from Bitcoin’s dip to $40k

TheBitTimes

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