On March 25, IMX experienced a significant rise, hitting just shy of $0.74, its highest price since March 3, before a widespread market slump – largely attributed to persistent concerns over US tariffs under President Donald Trump’s administration and the state of US interest rates – pushed it down to $0.46 on March 11.

As of press time, IMX had adjusted back to $0.67, as per CoinMarketCap. A push back towards $0.70 could potentially liquidate roughly $449,500 in short positions, based on data from CoinGlass.

Interestingly, when Immutable first received the aforementioned Wells notice from the SEC in November, the IMX token price didn’t show any noticeable reaction, likely due to the broader market gaining momentum ahead of Trump’s successful election outcome on November 5.

Immutable’s co-founder Robbie Ferguson expressed in a X post on March 25 that the SEC’s decision to drop the investigation represents “a massive victory for Web3 gaming.” He further added, “After a year of struggle, this threat to digital ownership rights has finally been eliminated.”

A number of top gaming crypto tokens by market cap have recorded growth over the last 24 hours. Gala (GALAUSD) is up by 2.78%, The Sandbox (SANDUSD) by 3.78%, FLOKI (FLOKI) by 1.91%, and Axie Infinity (AXSUSD) by 1.50%.

IMX recorded its peak price of $9.32 in November 2021 during a significant gaming tokens rally. Although there’s been talk about when gaming tokens might see another major uptick, history suggests they usually surge after the broader crypto market makes the initial move.

However, in the past month, the overall market cap of gaming tokens has decreased by 3.65% to $13.13 billion, while trading volume has taken a more substantial blow, plunging 33.45% to $1.75 billion.

Please note, this article is not intended to provide investment advice or recommendations. Every investment and trading decision carries risk, and readers are advised to conduct thorough research before making a decision.

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The year 2021 can certainly be marked as the year of cryptocurrencies and decentralized space. The NFT platform is growing in terms of adoption and price. Further, the buzz formed by the space and a result of Bitcoin’s commencement has entirely engulfed investors, regulators, speculators, and dissenters.

As things currently stand, NFTs have started to gain distinction in the gaming sector too. Also, at the vanguard of leading this run, Binance introduces the Gaming Metaverse With its NFT platform.

Interestingly, the Initial Game Offerings (IGOs) have thrived on Binance since their launch. In order to drive this force further, the platform has partnered with Binance Labs, Binance Smart Chain [BSC] fund, venture capitalists, guilds, and influencers.

Moreover, all partnerships are aimed at the sole purpose of onboarding new players to NFT gaming. Also, it is a part of a vision to take a step forward into the gaming metaverse. 

In addition, these efforts have put Binance at the center point of driving the revolution. More and more gamers are choosing Binance NFT. Additionally,  the platform has, so far, launched five IGO drops, and all of them have sold out; they have recorded a great response from the crypto community. In addition, the platform has also recorded a whopping $8 million in trading volume for NFT drops and over 40x growth in just 24 hours.

Lastly, as a part of its gaming vision, Binance will once again be leading the new age of the digital world. With the launch of its own NFT in the virtual world, the setting stone for gaming metaverse will enable users to “walk around and enjoy curated NFT art in a wholly digital space.

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The investment firm also revealed that the funds will be used to provide liquidity to projects at any stage of their development process. While the token fund is particularly for blockchain gaming and Esports, it will also be used to invest in cryptocurrencies and nonfungible tokens (NFT).

The fund has reportedly already closed investment rounds with Yield Guild Games (YGG), Immutable, Alethea AI and Horizon Games. Speaking to leading crypto publication Coin Telegraph, Piers Kicks, the fund manager said: “We adopt a chain-agnostic approach and assess each project on a case-by-case basis. We are beginning to see some exciting activity on Solana and will be closely monitoring early gaming projects in that ecosystem.” 

Commenting on the future plans, Bitkraft Ventures founding general partner Jens Hilgers, said that they are looking to invest in 25 different business ventures in the blockchain industry by the end of 2022. 

Blockchain has fairly revolutionized the multi-billion dollar modern gaming industry. NFTs have become increasingly popular in the crypto gaming industry. Bitkraft is actively eyeing the emerging market.

The post Bitkraft Announces $75-million Token Fund For Blockchain Gaming Investments appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

It is a sharp rise when compared to the figures reported last year. By the Q1 of 2020 only 6% of the payments came in cryptocurrencies but for this year it has risen by 19%. Another important trend that is emerging is that the majority of the crypto-paying betting accounts are concentrated in parts of Asia. It is also supported by a rise in the number of online crypto betting platforms catering to the clients in Asian countries. 

With cryptocurrencies becoming immensely popular, the gaming and betting industry seems to be more than welcoming. The biggest factor that explains the popularity of “crypto money” in the industry is the fact that they allow anonymous transactions and also setting up such platforms have lesser regulatory hurdles. The lesser cost of operations when compared to their conventional counterparts gives them an edge. It is also reported that crypto betting platforms tend to be more user gamer-friendly. 

The gaming and betting industry is growing at a significant pace. If we are to follow the trends from the past 24 months, there is little doubt that crypto gaming platforms are the future and in the next 5-6 years they may control a bigger market share than the traditional fiat crypto gaming platforms. 

The post Crypto Users Now Dominate The Online Gaming And Betting Market appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

There are reasons why a decentralized gaming platform has an upper hand over the traditional online gaming portals. The most important being the decentralized crypto gaming platforms are not owned by one central authority which ensures there are zero clashes of interest. This translates to higher profitability and a better user experience.

Blockchain technology also makes the platforms hassle-free and users can get access to no-fuss gaming without having to get into intricate details of paperwork and having to utilize conventional payment methods. While the evolving crypto gaming industry is yet to realize its full potential, one thing we are sure of is that blockchain-based gaming platforms are the future.

Let’s take an example of the promising WIN tokens native to the Wink gaming ecosystem. Wink has already become one of the most popular decentralized crypto gaming platforms. The native Win tokens have risen by over 100 times since the beginning of 2021.

Other crypto gaming platforms sharing the same success story, though thorough due diligence is always recommended. If as a retail crypto investor, you’re to bury your investments in one sector, the crypto gaming industry is full of positive surprises.

The post Crypto Gaming: Evolving Market With Maximum Potential appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.