The blockchain gaming industry is back on the rise as ERC-20 token Portal launches and hits a $410 million market cap.
Meanwhile, trending presale Meme Kombat is gearing up for its IEO after surpassing the $10 million total raised mark.
A remarkable 24 hours has kickstarted Portal’s journey in the crypto market, with its price surging by 4,760%.
The project launched on Binance yesterday, and the PORTAL airdrop rewards became available for farmers who gained eligibility late last year.
But this is merely the start of Portal’s community-first token distribution initiative, with plans for staking rewards, nodes, and other perks in the pipeline.
As per TradingView data, Portal launched at $0.05, to which it has exploded 4,760%, currently trading at $2.44.
Based on its circulating supply of 167,134,615 PORTAL, this puts its market cap at $410 million.
However, with just 16% of its total supply in circulation, its fully diluted market cap stands at a significant $2.4 billion.
The widespread distribution of PORTAL through tier-one exchanges is likely driving the resounding demand.
Already available on Binance and KuCoin, some of crypto’s biggest investing communities can already buy the project.
Portal is a cross-chain protocol striving to bridge the gap between games and blockchains. The project stands as a central hub for crypto gaming, inviting users to trade games and NFTs.
It currently supports the Ethereum and Solana networks and plans to expand to Polygon next.
Regarding Portal’s price potential, its early stage means that analysts have yet to comment on its price action and where it could be headed.
However, in a recent breakdown, YouTuber Crypto Gorilla noted that it holds significant potential, highlighting that the market is “entering into a bull run.”
The analyst also affirmed the significance of launching on Binance.
“They recently announced they will launch through Binance, which is incredibly bullish… over $2 billion in stablecoins and $6.5 billion BNB are currently staked just for people farming Portal.”
Indeed, the Portal token launch has been a glaring success, but this merely reflects a broader appetite for gaming tokens as the market teeters on the edge of a bull run.
With that in mind, another promising crypto gaming token to watch is Meme Kombat. It has raised over $10 million in its presale and is gearing up for its exchange launch in four days. Currently, investors have their last chance to buy at a fixed presale price.
Meme Kombat is a Play-to-Earn meme coin in the closing stages of its presale. Its impressive $10 million total raise reflects a nod of approval from the investor community, laying the way for parabolic price action following its exchange launch.
The project boasts a compelling use case, inviting users to gamble on AI-generated fights between meme coin characters in its augmented battle arena.
Users will wager with the $MK token, providing a steady and predictable demand stream to help offset the potential price volatility associated with newer cryptocurrencies.
Meme Kombat also boasts a staking mechanism, currently offering a 93% APY. However, this will lower as more tokens are staked, incentivizing early adopters.
The epic blend of utility, enigmatic gameplay, and earning potential all hint at significant demand once the platform goes live.
But adding to its allure, Meme Kombat’s integration of trending meme characters will help the game stay relevant and open it to the $31 billion meme coin industry.
These factors have drawn attention from top industry analysts, with Michael Wrubel recently telling his 310K YouTube subscribers that Meme Kombat “Could be the next 100x gaming crypto.”
Meanwhile, ClayBro warned his followers “Do not miss your last chance to grab Meme Kombat,”
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