- $ILV jumps 60.1% after the Illuvium Gauntlet Leviathan Tournament ends.
- Trading volume surges 1,015.30%, driven by tournament hype and speculation.
- Analysts warn of a potential pullback due to an overheated CRSI at 98+.
Illuvium’s native token, $ILV, has skyrocketed by 60.1% in the past 24 hours, according to CoinGecko data.
This remarkable surge follows the conclusion of the Illuvium Gauntlet Leviathan No Limits Tournament, which wrapped up on August 2, 2025, crowning FoxspiritAtlas as the champion.
The tournament, hosted by Kieran Warwick and sponsored by co-founders Kieran and Aaron Warwick, featured a 450 $ILV prize pool, drawing over 100 participants and igniting significant community excitement. The event’s success appears to have fueled a spike in trading volume, up 1,015.30% in the last 24 hours, reflecting heightened speculative interest.
The rally aligns with broader trends in Web3 gaming, where in-game events often trigger short-term price boosts. However, historical CoinGecko data reveals $ILV’s volatility, with its current price of $20.24 sitting 99.10% below its all-time high of BTC0.03326. This suggests the surge may be driven more by tournament hype than underlying fundamentals, a phenomenon supported by a 2023 Journal of Behavioral Finance study on herd behavior in crypto markets.
Analyst @thisisuncletim echoed this caution, noting an overheated CRSI of 98+, signaling potential for a near-term pullback if momentum wanes. Looking ahead, Illuvium’s ecosystem continues to evolve, with plans for a Leviathan Gauntlet leaderboard and a Battle Pass system within two months, per PlayToEarn reports. These developments could sustain interest, but the token’s long-term value hinges on gameplay adoption and economic stability.
For now, the tournament’s impact has put $ILV in the spotlight, with traders and enthusiasts debating its staying power amid a competitive Web3 gaming landscape. As the crypto community watches closely, the question remains: Is this a sustainable breakout or a fleeting spike? Investors are advised to monitor on-chain metrics and sentiment shifts, with resources like TradingView and DappRadar offering deeper insights into $ILV’s trajectory.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
