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.
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.