What is League of Kingdoms Arena (LOKA) crypto & why is it rising?

Highlights:

• The League of Kingdoms is an MMO strategy game that uses a play-to-earn model.
• The LOKA crypto price jumped more than 25 per cent on Monday morning.
• It gained over 11 per cent in the last seven days.

The increasing popularity of cryptos made web3, metaverse, play-to-earn, and move-to-earn models popular among crypto enthusiasts. League of Kingdoms (LOKA), a play-to-earn token, seemed to gain traction on August 29, as evident by its soaring price.

The LOKA crypto price rose more than 25 per cent on Monday morning, while its one-day volume rocketed over 1,236 per cent.

Let's understand the LOKA crypto before taking a closer look at its recent price and other developments with Kalkine Media®.

What is League of Kingdoms Arena (LOKA) crypto?

The League of Kingdoms is a blockchain-based MMO strategy game that claims to enable its users to earn through its play-to-earn ecosystem.

The users can earn while engaging in the in-game activities. Also, they can create kingdoms while raising an army to compete with others in the game and earn power and wealth inside the ecosystem.

Additionally, the users can also form alliances with others. It primarily provides three gaming modes for the players: player-VS-environment or PVE, player-VS-player or PvP, and party-play.

LOKA is the native and governance token of the game through which the users can participate in the decision-making aspects of the platform. In addition, the native crypto of the League of Kingdoms is also used to buy in-game items.

In addition, the project claims that users can earn real income through staking the LOKA token. League of Kingdoms also has a utility token, DST or Dragon Soul Token, which is required to breed a dragon-like in-game character.

The governance token of the platform went live this year in January. However, its whitepaper showed the game's official launch in July 2021.

Meanwhile, the project aims to release a non-fungible token marketplace, and a PvP arena, among other features, in the ongoing year.

Among its recent developments, League of Kingdoms released a community update on August 27, saying that it is working on many updates related to its UI/UX enhancements. In addition, it also plans to bring some new content and the upcoming DST update, it said.

Source: ©Kalkine Media®; © Canva via Canva.com
Data Source: CoinMarketCap.com

Bottom line:

The LOKA token was priced at US$ 0.6457 at 8:46 am ET on August 29, noting a surge of 25.83 per cent in the last 24 hours. Its volume for the trailing 24 hours also witnessed a huge jump of 1,236.21 per cent to US$ 58.34 million simultaneously.

Its market cap soared to US$ 16.19 million at its current trading price. In the last seven days, LOKA’s price added over 11 per cent. However, since January 21, 2022, it has lost nearly 75 per cent, decreasing about 19 per cent in the last 30 days.

Cryptocurrencies like LOKA are lesser-known, and investors must remain cautious before investing.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.