Bitcoin's Lightning Strike: Gaming Tokens' Rollercoaster Ride Amidst $550 Million Liquidation

The recent Bitcoin flash crash, resulting in a 7% drop in the cryptocurrency's value, had a ripple effect on gaming-related tokens. Tokens like IMX, SAND, AXS, and GALA experienced declines ranging from 5% to 15% in the past 24 hours. Over $550 million in crypto long positions were liquidated during the crash, as per CoinGlass data. However, some gaming tokens, including SLP and YGG, saw modest gains of about 4% and 11%, respectively, while Oasys increased by approximately 6.3%. Despite the downturn, IMX and GALA had experienced growth last month, with IMX hitting a 20-month high at $2.35 and GALA seeing 18% gains. New gaming tokens are set to enter the market soon, including PIXEL, PORTAL, and MXM tokens.