Mines of Dalarnia

Bitcoin

Smooth Love Potion

Gala

Alien

GameFi tokens were the best performers on Sunday as Bitcoin recaptured the important resistance point at $60,000 for the first time since Aug. 14. 
Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) recovery triggered gains in the crypto industry, with the total market capitalization of all coins rising by 0.8% to $2.2 trillion. 
A closer look at the top gainers showed that gaming tokens were the best-performing coins on Aug. 18. Mines of Dalarnia (DAR) token formed a god candle as it jumped to a high of $0.218 — 115% above its lowest level this month. Its surge brought its market cap to over $120 million.&nbsp; 
Its rally happened in a high-volume environment. Data by <a href="https://coinmarketcap.com/currencies/mines-of-dalarnia/" target="_blank" rel="">CoinMarketCap</a> shows that the 24-hour volume rose by over 3,740% to over $398 million. Most of its volume was from Bitrue followed by Binance. Mines of Dalarnia was also one of the most trending tokens in StockTwits.&nbsp; 
Meanwhile, Alien Worlds (TLM), another gaming token rose by 70% to $0.014, giving it a valuation of over $62 million. It has risen by over 120% from this month’s low.&nbsp; 
Gala (<a href="https://crypto.news/price/gala/" target="_blank" rel="noreferrer noopener">GALA</a>) token also rose for the second consecutive day and reached its highest level since Aug. 4. Ronin (<a href="https://crypto.news/price/ronin/" target="_blank" rel="noreferrer noopener">RON</a>) rose by over 5% to $1.63. 
<a href="https://www.coingecko.com/en/categories/gaming" target="_blank" rel="">According to CoinGecko</a>, the total 24-hour volume of all GameFi tokens rose to over $2 billion while the market capitalization jumped to $13 billion.&nbsp; 
<figure class="wp-block-image size-full">
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 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/08/GALAUSD_2024-08-18_17-09-12.png.webp"> 
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/08/GALAUSD_2024-08-18_17-09-12.png" alt="Gala, Mines of Dalarnia, Alien Worlds, and Ronin tokens"> 
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 <figcaption class="wp-element-caption">
 Gala, Mines of Dalarnia, Alien Worlds, and Ronin tokens | Chart by <a href="https://www.tradingview.com/symbols/GALAUSD/?exchange=BINANCE" target="_blank" rel="">TradingView</a>
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<h2 class="wp-block-heading" id="gamefi-challenges-remain">GameFi challenges remain</h2> 
Despite the weekend surge, most gaming tokens have dropped sharply from their all-time high as demand for the sector wanes. 
Axie Infinity, once touting a market cap of over $9 billion, has dropped to a valuation of just $715 million. Other tokens like Decentraland, Sandbox, and Gala have shed billions in valuation in the past few years.&nbsp; 
A key concern among users is the volatility of the reward tokens. For example, Smooth Love Potion (SLP), which is used to reward Axie Infinity players, has dropped from $0.3335 in 2021 to $0.029, a 99% drop.&nbsp; 
Tap-to-earn Telegram mini applications — Hamster Kombat, Notcoin, and TapSwap — are accumulating millions of users, further disrupting the industry. 
 Read more: <a href="https://crypto.news/binance-labs-invests-telegram-web3-catizen/"> Binance Labs invests in GameFi platform behind Telegram-based Web3 game Catizen </a>

GameFi tokens surge: Alien Worlds, Mines of Dalarnia, Gala lead

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