- The value of gaming tokens surged the past few weeks with Enjin and Decentraland riding the waves.
- Flow was a strong force to reckon with during the gaming token rise; the asset has risen by 30% in the last week.
- It was designed to be the premier blockchain for the development of new generation games, applications and also support their digital assets.
- Flow is trading at $17.22 and since January the asset has gained a staggering 1,053%.
Gaming tokens are basking in the euphoria of a strong price surge that saw them gain over 30% in the last few weeks. In Particular, Decentraland and Enjin recorded impressive gains during the last crypto price rally making gains of over 15% in a single day.
Not to be left out in the wave of gains, another gaming token, Flow is also blazing trails having been the most impressive in the last 7 days after climbing over 30% this week.
Flow: Setting the Pace in the Last 7 Days
FLOW is the latest gaming token to ride the wave of a strong price rally after it climbed by 35.21% in the 7 days. The rise of the asset dwarfs its contemporaries like Enjin and Decentraland in the last week. ENJ has only risen by 6.77% in the last week while Decentraland’s MANA is up by 2.09%.
Since January, the asset has risen by over 1,000% and reached its all-time high of $46.16 in April before settling at $17.22. The reason for the impressive metrics by Flow is due to the extensive utilities that it offers the gaming industry.
Flow is a layer one blockchain for building the next generation of games and applications with user experience at its core.
The project makes building easy for developers with its multi-role architecture, resource-oriented programming, and revolutionary onboarding. The use of Cadence, a new programming language for DApps, upgradable smart contracts and its speed sets it apart from its rivals.
Recent Developments and Future Events
Flow’s increasing adoption is a result of the technological advancements at the heart of the project. The use of human-readable security, smart user accounts, and inbuilt logging support will make for seamless usage of the ecosystem.
The development of FUSD, a dollar-backed stablecoin for the Flow blockchain has been announced, providing the much-needed utility for non-Dapper Labs companies that are building on Flow.
Vaults by CNN have been launched allowing users to own a piece of history from CNN’s archives as NFTs, proudly hosted by Flow.
Flow has a boisterous community of users and developers alike that hold discussions on the Forum, Discord, Telegram, and Twitter with over 74,000 followers.
On The Flipside
- Despite Flow’s impressive showing this week, it still ranks below Enjin and Decentraland at 74th place with a market cap of $862 million.
- Enjin is ranked at 69th place while Decentraland is the 66th largest cryptocurrency in terms of market capitalization.
The Reason for the Rise of Gaming Tokens
Whenever cryptocurrencies go bullish, gaming tokens seem to be the biggest gainers. The reason for their astronomical highs could be as a result of the growth of the gaming industry.
The global gaming market has been forecasted to be worth $256 billion by 2025 and this growth is trickling into cryptocurrencies markets. Enjin, Decentraland, and Flow are leading the pack for gaming tokens and experts are positive that this is a trend that will most likely continue.