A Blooming Landscape: Top 10 Gaming Tokens by Market Cap
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A Blooming Landscape: Top 10 Gaming Tokens by Market Cap
Tokens related to crypto gaming and various networks have become one of the largest sectors in terms of issuance scale this year.
Navigating Web3 tides with focused insightsSource: Decrypt
Compiled by: BitpushNews Mary Liu
So far in 2024, there have been numerous high-market-cap new token launches, many of which are crypto gaming projects. With an overall price rebound and a surge in airdrop activities, tokens tied to blockchain games and various networks have become one of the largest sectors by issuance volume this year.
Notcoin, Portal, Pixels… This article covers the top 10 game-related tokens by market cap based on data at the time of writing.
1. Notcoin (NOT)
Peak Price: $0.02896
Peak Market Cap: $2.97 billion
A new reigning champion, leaving other projects far behind. Notcoin launched its NOT token on The Open Network (TON) in May, and after distributing airdrops to approximately 35 million players, its market cap quickly surged to nearly $1.5 billion.
Of course, like many newly issued tokens, early price movements were highly volatile and soon declined… but then surged again in June to reach a new high, peaking at nearly $3 billion in market cap—unmatched by any other new gaming token in 2024. However, with a growing number of Telegram-based games emerging and reaching broader audiences, attention will likely shift toward projects that haven't yet launched their tokens.
2. PIXEL (PIXEL)
Peak Price: $1.02
Peak Market Cap: $731 million
The hottest game on Ethereum is also one of the biggest tokens of the year. The PIXEL token launched in late February for a casual farming game on Ronin, an Ethereum sidechain, helping integrate more crypto-native elements into online gaming. It also generated over $1 billion in trading volume within less than a day.
Pixels boasts hundreds of thousands of daily users, capturing attention from the crypto community and helping Ronin build strong momentum. In mid-March, PIXEL’s price broke $1, taking the top spot until it was overtaken by Notcoin. Since then, more tokens have been unlocked, and although the price has significantly dropped as of this writing, it remains notable.
3. Saga (SAGA)
Peak Price: $7.60
Peak Market Cap: $684 million
Though not exclusively a gaming chain, much of the initial promotion for the Layer-1 Saga network centered around games, including a "Play-to-Airdrop" campaign and announcements about its internal game publishing division, Saga Origins. According to Saga, around 80% of testnet projects are focused on gaming.
The SAGA token created massive buzz, starting with a record-breaking Binance launchpool event where users staked over $13.4 billion worth of assets to earn SAGA rewards. Its price later peaked, placing it second on this year's list so far. More airdrops are expected in the future.
4. Portal (PORTAL)
Peak Price: $3.36
Peak Market Cap: $561.6 million
Launched on February 29, Portal generated unprecedented excitement in the crypto gaming space. Part of the hype stemmed from an airdrop mining campaign that incentivized users to post on Twitter, while a record-setting Binance event saw users stake over $9 billion in crypto assets hoping to benefit.
However, prices fell sharply and, as of the latest update, remain far below their peak. Can this Ethereum-based token for an upcoming cross-chain gaming platform regain traction?
5. Xai (XAI)
Peak Price: $1.59
Peak Market Cap: $440.6 million
Xai, a Layer-3 gaming network on Arbitrum (an Ethereum rollup), conducted one of the year’s first major airdrops, rewarding node operators, owners, and certain NFT holders. So far, XAI has had a solid start, with its highest price more than double its current level.
Games are beginning to launch on the network, which should generate further interest and excitement around the token. Additionally, Xai recently introduced staking rewards.
6. Catizen (CATI)
Peak Price: $1.11
Peak Market Cap: $338.6 million
Finally, another significant Telegram-based game has entered the scene. While Catizen’s token hasn’t reached the heights of Telegram pioneer Notcoin, its launch demonstrates the huge appeal such games can have once their tokens hit the market—although the distribution method for Catizen’s token sparked controversy among players.
Catizen is one of the most popular games in the second wave of Telegram gaming after Notcoin, but whether its price will hold—or rise further—remains to be seen. Other major Telegram games like Hamster Kombat and X Empire may soon vie for spots on this list.
7. Heroes of Mavia (MAVIA)
Peak Price: $10.59
Peak Market Cap: $317.7 million
Heroes of Mavia is one of the biggest new crypto game launches of the year. This Clash of Clans-style game attracted millions of downloads on iOS and Android, and Skrice Studios celebrated its release with a token airdrop to 100,000 early players, as well as to virtual landowners who had previously staked NFTs.
After launching in February, MAVIA’s price surged past $10—more than five times its initial price—but this rally was short-lived. Since then, its value has dropped by over 80%. The development team opted to delay and reduce some token unlocks to mitigate potential market impact.
8. Gaimin (GMRX)
Peak Price: $0.03937
Peak Market Cap: $261.2 million
Gaimin aims to support crypto gaming through a decentralized cloud computing platform that rewards users for contributing idle computing resources. The platform’s GMRX token launched at the end of March.
While the individual token price is low, the circulating supply is substantial, pushing the peak market cap to $261.2 million. However, as of this writing, the price has fallen by over 95%, so it remains to be seen if Gaimin can return to those levels anytime soon.
9. Zentry (ZENT)
Peak Price: $0.045
Peak Market Cap: $248.7 million
ZENT launched in late April as the native token of Zentry, a gaming rewards platform evolved from a crypto gaming guild formerly known as GuildFi. With the rebranding, the company introduced a new Ethereum-based token and offered existing GF holders a conversion rate to migrate to ZENT.
Zentry’s new token peaked in price about a month after launch, pushing its market cap to a record high just under $250 million—though, like many gaming tokens (and crypto tokens broadly), it has since sharply declined.
10. Apeiron (APRS)
Peak Price: $1.88
Peak Market Cap: $193.6 million
Apeiron is a popular strategy game on Ronin currently running an airdrop campaign and recently launched its APRS ecosystem token via the network’s first token sale.
On launch day, the token approached a $200 million market cap, though like Gaimin mentioned above, its price has declined since issuance. Still, its initial surge was enough to secure a spot on this list—and the full game hasn’t even launched yet.
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