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With a total market capitalization now approaching $40 billion, crypto-gaming tokens are on the rise. Since this uptick coincides with Bitcoin's bull run, could the better market conditions result in even more crypto investors rotating into GameFi?&nbsp;
We explore the answer to this question while discussing the top 4 crypto coins that could go big this year.
<h2 dir="ltr" id="span-blockchain-gaming-is-making-a-return-span">Blockchain Gaming is Making a Return</h2>
People moved away from crypto gaming in late 2022 and all of 2023. According to BlockchainGamer.biz, more than 30% of blockchain games were discontinued last year. However, the crypto markets improved slightly at the beginning of 2024.&nbsp;
Bolstered by the approval of Bitcoin ETFs, Bitcoins started to move up. Now that Bitcoin halving is upon us, anticipation has pushed BTC to its all-time high.&nbsp;
<img src="https://lh7-us.googleusercontent.com/4iLz6lgLeNbZq6BzAQUWOb3qcv6n6v9Y8XZfiO_1ELK7E4e-xB3sqrfI4Q-GzI_ipHxhx0eXgkjeFL5jHKT0NFKuTGm9Jm5FvEByANCq384qw0T-5thQmPV1ceb6HRsAXvPUF1XAvwYGPFkBWCGuOz8" width="624" height="213" style="display: block; margin-left: auto; margin-right: auto;">
This rising interest in the crypto market has made people pay more attention to cryptos with utilities. <a href="https://coinmarketcap.com/view/gaming/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> shows a linear increase in gaming tokens' market capitalization, with some leading gaming cryptos going up on the price charts.&nbsp;
<h2 dir="ltr" id="span-these-4-gaming-coins-might-explode-this-year-span">These 4 Gaming Coins Might Explode This Year</h2>
<h3 dir="ltr" id="span-sponge-v2-span">Sponge V2</h3>
The first cryptocurrency with the most potential to explode this year is <a href="https://shrt.care/eb563bf4" target="_blank" rel="noopener noreferrer nofollow">Sponge V2</a>. The second iteration of Sponge V1, this project is moving beyond its meme coin roots to provide investors with additional perks, including gaming and staking.&nbsp;
<img src="https://lh7-us.googleusercontent.com/Ed6Dio73RCaZwrMBWtMAm6Omn5-TDyMdeSzeqepfrpm8iH9sUOmODRT49A8RPyPEU6P06i8ERZEoDTiPi5j01Ixtua5UssPaulQazfk8qUz_mTWeK6ZHF8Y7ifiWDJqgYYNmdtQt_8VjcPyqCAbIBJo" width="624" height="379" style="display: block; margin-left: auto; margin-right: auto;">
Staking is a utility that allows long-term holders to make gains via APY. However, it also lets those with Sponge V1 tokens stake their tokens in return for Sponge V2. Since the bridge launch and the arrival of Sponge V2, over $28 million worth of Sponge V1 tokens have been staked and bridged.&nbsp;
But what game is Sponge V2 introducing?
While the project kept the game under wraps when Sponge V2 was announced, it has now been revealed that it will be akin to kart racing and will probably feature characters from SpongeBob SquarePants. Per the whitepaper, there will be two versions of the game—one for Web2 users and the other for Web3 players.&nbsp;
Web2 users will get access to the free version of the game, where they can indulge in gameplay in the demo mode. With the Web3 version, however, players will have access to P2E mechanics, allowing them to earn SPONGEV2 tokens.&nbsp;
Sponge V2's current market cap exceeds $120 million. Monthly charts show that Sponge has been up by more than 230%.&nbsp;
<img src="https://lh7-us.googleusercontent.com/vTsDrrmdlGzJNauvlbQCgDzwEHwVCdsuAAfNFf9YxzVwnHituZM1zUnvfy4y5RIXtsBa4gScgLLT5lwsdGHiMFr60T_uQALrKkQm3qfUfbsXmfx9T0ECBxFHvIdybbX0Zu0ENPBw7d4A8Wd7zQtdGq8" width="624" height="380" style="display: block; margin-left: auto; margin-right: auto;">
<h3 dir="ltr" id="span-bitcoin-minetrix-span">Bitcoin Minetrix</h3>
Another big token that has been able to ride the wave of the gaming crypto market thanks to its utilities is <a href="https://shrt.care/f24415e8?referrer=will-crypto-investors-rotate-to-gamefi-4-p2e-and-gaming-coins-that-could-explode-next" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Minetrix</a>. While it is not strictly a gaming crypto, its two perks—stake-to-earn and mine-to-earn—give it a sense of gamification.&nbsp;
<img src="https://lh7-us.googleusercontent.com/PLjSw6Iv-gzU2cCgdgMfV2-YyphT4uUknlCg3ZbXDfU1fp7SAfbv8TgvcAv-43fQHzjk2AEDjn5Pe8TDB0t5LpnG-g2Ql4T19VEQJWBdcr3xVHkcrBO8I2Dwd26aBh6zJNT-CRopemIU2rHA-LuPh54" width="624" height="345" style="display: block; margin-left: auto; margin-right: auto;">
Bitcoin Minetrix intends to change people's perceptions of cloud mining by making the traditional cloud mining ecosystem more decentralized. Creating an ecosystem where stakers will have control over their mined tokens, this project has blended staking and mining together.&nbsp;
Through staking, users will earn mining credits, and by burning mining credits, they will earn mining time. When the mining is done, mined Bitcoin will be transferred to their wallets, while the staked BTCMTX tokens will continue to generate APY rewards.&nbsp;
This dual approach to earning while making Bitcoin mining less intimidating is one of the reasons this token can potentially explode as a gaming crypto in 2024. Currently available as a presale, Bitcoin Minetrix has already raised over $12 million.&nbsp;
<h3 dir="ltr" id="span-gala-span">Gala</h3>
<a href="https://games.gala.com/" target="_blank" rel="noopener noreferrer nofollow">Gala Games</a> is the second-biggest gaming crypto on CoinMarketCap at press time. Since Bitcoin found solid support around the $68k mark, Gala has experienced a major increase in value. The month-end chart on CoinMarketCap shows that this token has surged by triple digits.&nbsp;
<img src="https://lh7-us.googleusercontent.com/6BvqAdCJlaaCbqEEFkNno1KTDZy6oCM8WiFD3XsRFBUFwy1WPo3DaDqASi7jl_rZ_fZmxQ38dewQ5x7MVDCwOpFDpZy_TamVhXZOvbIHz-2TyaUUeIvDaTtCjcam86wHrVssv5Rw2zKxQfZOteAvTEg" width="624" height="367" style="display: block; margin-left: auto; margin-right: auto;">
Gala's recent partnership with Amazon Web Services and Alienware for the recent Hackathon has contributed to this surge. Developers have been constantly engaging with the crypto gaming community, and more developments will likely be coming in 2024.&nbsp;
<h3 dir="ltr" id="span-floki-span">Floki</h3>
<a href="https://floki.com/" target="_blank" rel="noopener noreferrer nofollow">Floki</a> is a gaming crypto that started as a meme coin and later developed its utility within the gaming niche. While this utility was noted little during the crypto winter, multiple investors have now started to notice it.&nbsp;
<img src="https://lh7-us.googleusercontent.com/Ix5lnuZsx0mVCr5j6GLmqMn5v8a2ABUhnqpFrAX9HyqrmAVi9PvSffQ2-9-sfhRCmuABYyBrSpqdkclSiItCeZAdZkTUKIQJlYGhduF9JY2EPderxS6R6NGwFPLoxOCm6hMZ2tUKLXcfM5K2RufApkI" width="624" height="369" style="display: block; margin-left: auto; margin-right: auto;">
The gaming crypto has experienced nearly an 800% increase in value on its month-end price chart, and investors are continually saying good things about this project. This surge is likely due to the trailer release of Valhalla, Floki Inu's official metaverse.
<blockquote class="twitter-tweet" data-media-max-width="560">
 Valhalla | Official trailer #1 <a href="https://t.co/qDCsGXSi6Y" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/qDCsGXSi6Y</a> — FLOKI (@RealFlokiInu) <a href="https://twitter.com/RealFlokiInu/status/1758174041372864888?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 15, 2024</a>
</blockquote>
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This development shows that Floki has started following its roadmap, which means more developments may come within this ecosystem, allowing this token to explode in 2024.&nbsp;
<h2 dir="ltr" id="span-investors-are-finding-value-in-gaming-cryptos-again-span">Investors are Finding Value in Gaming Cryptos Again</h2>
The recent surge in gaming cryptos shows that investors no longer give crypto assets a side-eye. They are interested in what these games have to offer. While many games are yet to be revealed, the rise in utility tokens shows investors are ready to give crypto another chance.&nbsp;
The best gaming tokens in the market are <a href="https://shrt.care/eb563bf4" target="_blank" rel="noopener noreferrer nofollow">Sponge V2</a> and <a href="https://shrt.care/f24415e8?referrer=will-crypto-investors-rotate-to-gamefi-4-p2e-and-gaming-coins-that-could-explode-next" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Minetrix</a>.&nbsp;
Sponge V2, with its upcoming kart-racing-style game, and Bitcoin Minetrix, with its stake-to-mine utility, could bring more attention to the gaming crypto space this year.
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/will-crypto-investors-rotate-to-gamefi-4-p2e-and-gaming-coins-that-could-explode-next-tbt82249.html">https://thebittimes.com/will-crypto-investors-rotate-to-gamefi-4-p2e-and-gaming-coins-that-could-explode-next-tbt82249.html</a>

Will Crypto Investors Rotate to GameFi? 4 P2E and Gaming Coins That Could Explode Next

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