One crypto sector is defying an overall market correction with explosive rallies in six notable altcoins.
While Bitcoin (BTC) continues to struggle below the $60,000 level, altcoins pertaining to gaming and virtual reality are pulling off parabolic gains.
[adinserter block="1"]Virtual world blockchain Decentraland (MANA), which is the 31st largest crypto asset on the market, is currently up 38% in the last 24 hours, continuing its rapid growth that began late last month. At time of writing, MANA is up over 600% in the last 30 days.
Also turning heads is metaverse platform The Sandbox (SAND), which is currently up over 136% over the last 7 days, and 48% in the last 24 hours. SAND‘s gains come alongside a surprise announcement of a partnership with fashion giant Adidas.
The Ethereum-based play-to-earn platform Gala appears to be the most outperforming at time of writing. GALA is currently up over 300% in the last 7 days, and 26% in the last 24 hours. It’s exchanging hands at $0.47.
Joining the crypto gaming bull run is decentralized social gaming platform UFO Gaming (UFO). Built on the Ethereum network, the project has created a “Dark Metaverse” where users can create their own clans, own and trade virtual land, and earn crypto or non-fungible tokens (NFTs).
UFO is up 118% in the last 7 days, and 369% over the last 30. It is currently trading at $0.000053.
Decentralized NFT-focused gaming studio Illuvium (ILV), is outpacing most of the market as well. At time of writing, Illuvium’s ILV token is currently valued at $1,477.43, up 43% in the last week and 24% over the last day.
Finally, metaverse gaming launchpad Starlink (STARL) is joining in on the sector’s rapid growth. While STARL had been trending down for a week or so, it has since recovered its losses and is up 2% over the last week, but over 500% in the last 30 days.
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Featured Image: Shutterstock/Pavel Chagochkin/Vladimir Sazonov
