The gaming crypto industry has rapidly become one of the most lucrative sectors globally, surpassing the entertainment industry in terms of revenue generation. With a market value in the billions annually, various gaming tokens are accessible for purchase. These tokens enable players to engage in buying, selling, and trading in-game assets for potential profits. Despite the vast array of options available, only a select few have maintained a stronghold in the market for an extended period.
Before we dive into the details of gaming crypto, let’s first look at the bigger picture of the play-to-earn sector.
Table of Contents
Ronin (RON)
Ronin, the EVM blockchain designed exclusively for gaming, was created by Sky Mavis, the mastermind behind the popular Axie Infinity game that has raked in more than $1.3B in revenue.
With its impressive track record, Ronin is the only blockchain capable of handling millions of active users and processing over $4B worth of NFT volumes. It provides near-instant transactions and minimal fees, allowing for seamless in-game transactions. It’s no wonder that Ronin has become the top choice for Web3 games.
Price Today
Ronin (RON) is currently valued at $3.15, showing a decrease of 0.2% in the past hour and a 2.3% drop since yesterday. Compared to a week ago, RON’s value has decreased by 15.7% today. Over the last day, the total trading volume for Ronin amounted to $22,522,838.
The price is rebounding from the horizontal support zone. Presently, it’s experiencing resistance, potentially forming a double bottom pattern. Should this pattern be confirmed, we could consider buying from the horizontal support zone.
The 12-hour RON/USDT chart indicates a double bottom formation, hinting at a potential bullish turnaround with reasonable certainty.
It is advisable to contemplate entering a long position after the price surpasses $3.20, targeting an exit around $4.00. Monitor the volume closely to validate the breakout. Remember to exercise caution and take into account market sentiment and Bitcoin’s influence on altcoins.
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Price Prediction
In May 2024, we predict that the price of Ronin (RON ) could range from $2.71 to $3.56. The average estimate for Chiliz’s value during this month is around $3.14. This indicates a potential return on investment of 5%.
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Illuvium(ILV)
Illuvium is an innovative gaming studio that combines online gaming with cryptocurrency. They specialize in creating unique, evolving, and high-quality NFTs that can be used in a variety of play-to-earn gaming titles.
Their flagship game, Illuvium, is set to revolutionize the gaming industry with its cutting-edge graphics and engaging gameplay. Built on the Ethereum network and utilizing the ImmutableX layer-two solution, players can enjoy zero gas fees, lightning-fast transactions, and full control over their assets.
Price Today
Illuvium (ILV) is currently priced at $86.86, and its 24-hour trading volume is $10,711,397.56. Over the past 24 hours, the price has experienced a decline of -6.85%, while in the last 7 days, it has seen a decrease of -26.46%. With a circulating supply of 6.4 Million ILV, the market cap of Illuvium is valued at $579,790,127.
The price has breached the neckline of the double bottom pattern and has successfully retested it. Currently, it is establishing higher highs and higher lows. We can consider buying ILV at the current position, which aligns with the higher low. There are favorable prospects for the price to form another higher high from this point onward.
The ILV/USDT chart suggests a possible change in direction from the recent downtrend as a double bottom pattern emerges. Be patient for a definitive breakout above the $94.20 resistance level and significant trading volume before making a smart decision. Taking advantage of this breakout opportunity could present a good opening for a long position with assurance. Determine exit targets by considering the distance from the triangle’s base to the resistance level. Keep a close eye on the breakout confirmation before making any trading moves.
Price Prediction
In May 2024, we predict that the price of Illuvium (ILV) could range from $103.14 to $312.35 . The average estimate for Chiliz’s value during this month is around $207.75. This indicates a potential return on investment of 201.3%.
BinaryX (BNX)
BinaryX ($BNX) serves as the native cryptocurrency of the BinaryX ecosystem, encompassing the DAO as well as various products and games that make use of $BNX. Initially, BinaryX started as a decentralized platform for trading derivatives.
However, as the demand for GameFi and metaverse games grew, the team gradually shifted their focus towards developing decentralized video games. Now, BinaryX is undergoing a complete transformation into a GameFi platform, providing IGO services to connect Web2 developers with Web3.
Price Today
BinaryX (BNX) is currently priced at $0.6882, and its 24-hour trading volume is $59,590,958.04. Over the past 24 hours, the price has experienced a decline of -7.99%, while in the last 7 days, it has seen an increase of 4.90%. With a circulating supply of 359,219,799 BNX, the market cap of BinaryX is valued at $248,422,191.
The price has broken through the horizontal resistance zone and has undergone a successful retest. Currently, it looks ready for an amazing pump.
Price Predictions
In May 2024, we predict that the price of BinaryX (BNX) could range from $0.686265 to $0.720472. The average estimate for BinaryX’s value during this month is around $0.699907. This indicates a potential return on investment of 227.14%.
Conclusion of Gaming Crypto
With the convergence of gaming and cryptocurrency, these top 3 gaming cryptos – RON and ILV, BNX – offer the potential for exciting returns for investors. However, it’s important to keep in mind that the crypto market can be volatile. Before investing, it’s essential to thoroughly research and assess your risk tolerance.
These gaming crypto tokens bring thrilling innovations and have the potential to disrupt the market, making them intriguing options for a diversified investment portfolio.