CryptoSlate wMarket Update: Gaming tokens Axie Infinity, Gala, Decentraland shine in flat market

The cryptocurrency market saw net outflows of $2.6 billion over the last 24 hours and currently stands at $1.12 trillion — down 0.2% from $1.13 trillion. During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps fell 0.6% and 0.4% to $520.51 billion and $217.14 billion, respectively.

Timeline of Axie-infinity, Gala, Decentraland

Decentraland (MANA) is visibly leading the altcoin charge today following its meteoric price growth over the past 24 hours. Within that time frame, the metaverse-focused token has jumped by 10.26% atop a spot price of $0.5193, sending a very bullish signal to the broader ecosystem that imbued utility can always propel a token to new heights.

As the AXS staking rewards unlock event approaches, AXS holders anticipate the distribution of over $23 million worth of rewards while the Axie Infinity collection reigns supreme in the NFT market.

GALA News: GALA, the core utility token for Gala Games will soon be witnessing a major contract upgrade. As per than details, a new GALA V2 token will be issued 1:1 for all $GALA holders over a majority of the exchanges.

GALA V2 News: Gala Games ecosystem will soon be going under a massive contract upgrade where holders will be issued new $GALA V2 tokens on a 1:1 basis for all $GALA. Binance, the world's largest crypto exchange has decided to support the Gala (GALA) contract swap when Coinbase chooses to stay away from it.

Gala Games, a Web3 gaming startup, is set to launch an upgraded GALA token on May 15 through an airdrop to existing token holders. However, major cryptocurrency exchange Coinbase has decided not to support the transition.

Gala V2 News: GALA, the core utility token for Gala Games price is on a downward trend over the past 3 months. However, this decline might continue ahead as Coinbase, the U.S. biggest crypto has decided to deprecate existing Gala V1 and not to support the Gala V2 airdrop.

A key investor in the Web3 and cryptocurrency space highlighted one of his favorite projects while attending the Met Gala Monday night alongside his wife Serena Williams. What Happened: Reddit co-founder and investor Alexis Ohanian has invested in several NFT-related companies over the years including Doodles, Moonbirds and Yuga Labs.

Although crypto markets are literally dominated by ETH and BTC price movements right now, interesting things are happening on other fronts as well: analysis of Stepn, Axie Infinity, and STX.

Axie Infinity (AXS/USD) price has wavered recently as investors wait for the upcoming token unlocks. AXS token was trading at $9.3, which is a few points below this month's high of $9.75. It has risen by more than 35% above the lowest level in March.

The Axie Infinity price analysis reveals that, due to the bulls' efforts to maintain their lead, the price has been trading at a high level for the past few days. Today has seen an advance as well, with the price rising to the $9.2 mark under the continued pressure of the bulls.