Crypto Downturn Hits Gaming Tokens as Bitcoin Nears $40K

Recently, the cryptocurrency sector has undergone a noticeable downturn, particularly impacting gaming tokens amidst Bitcoin nearing the $40,000 threshold.



On Monday, the digital currency market saw a downturn, significantly affecting gaming tokens as Bitcoin edged closer to $40,000, as per CoinGecko's analysis.



Among the affected, Immutable's IMX token witnessed an 8% drop to $1.80, while Beam (BEAM) and Gala Games (GALA) both experienced approximately 7% declines. The governance token of Axie Infinity, AXS, decreased by over 6%, and its in-game SLP reward token fell by 7%. Contrasting this trend, Ronin (RON) rose by 34% over the past week, reaching $2.32, catapulting it into the top 100 cryptocurrencies. It achieved a peak of $2.52 on Sunday, its highest value since February 2022.



These fluctuations within the gaming token


First found on: https://coinatory.com/cryptocurrency-news/bitcoin-nears-40k-16786/?utm_source=BG&utm_medium=Blogger+Some+Crypto+Blog&utm_campaign=SNAP