GameFi market cap outperforms combined crypto sector in past 24 hours
The GameFi market cap has outperformed the rest of the cryptocurrency sector in the past 24 hours.
GameFi tokens rally
In the past 24 hours, GameFi tokens such as Gala have rallied by over 3%, according to The Block's Prices Page . Gala acts as a medium of exchange for in-game purchases and voting rights within the Gala Games community.
However, when we pull back to the monthly view, the rally in web3 gaming becomes more pronounced. In the past 30 days, Gala has increased by 228%, The Sandbox's Sand token has gained 91%, and Axie Infinity's AXS has spiked 71%.
Gala token prices have increased by over 3% in the past 24 hours. Image: The Block.
According to Nansen analyst Edward Wilson, the out-performance indicates that significant investor activity is moving out along the risk curve. "As the market begins to heat up, investors seek higher yields beyond major cryptocurrencies such as bitcoin and ether," Wilson told The Block.
AI-related crypto tokens rally
Major tokens associated with the AI-related cryptocurrency sub-sector have also posted substantial gains in the past week. RNDR, the native token of Render, a platform that helps artists access computing power for rendering generative AI artwork, has gained over 64% in the past week and is now trading at $11.99.
Joining the recent rally of AI-related tokens is GRT, the native token of The Graph protocol. Its price has gained 42% in the past week to now trade at $0.44. GRT's price has increased by 164% in the past month.
The GM 30 Index , representing a selection of the top 30 cryptocurrencies, has increased by 2.76% to 156.67 in the past 24 hours.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mars Morning News | Ethereum Fusaka upgrade officially activated; ETH surpasses $3,200
The Ethereum Fusaka upgrade has been activated, enhancing L2 transaction capabilities and reducing fees; BlackRock predicts accelerated institutional adoption of cryptocurrencies; cryptocurrency ETF inflows have reached a 7-week high; Trump nominates crypto-friendly regulatory officials; Malaysia cracks down on illegal Bitcoin mining. Summary generated by Mars AI. The accuracy and completeness of this summary are still undergoing iterative updates.
Do you think stop-losses can save you? Taleb exposes the biggest misconception: all risks are packed into a single blow-up point.
Nassim Nicholas Taleb's latest paper, "Trading With a Stop," challenges traditional views on stop-loss orders, arguing that stop-losses do not reduce risk but instead compress and concentrate risk into fragile breaking points, altering market behavior patterns. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.
With capital outflows from crypto ETFs, can issuers like BlackRock still make good profits?
BlackRock's crypto ETF fee revenue has dropped by 38%, and its ETF business is struggling to escape the cyclical curse of the market.
Incubator MEETLabs today launched the large-scale 3D fishing blockchain game "DeFishing". As the first blockchain game on the GamingFi platform, it implements a dual-token P2E system with the IDOL token and the platform token GFT.
MEETLabs is an innovative lab focused on blockchain technology and the cryptocurrency sector, and also serves as the incubator for MEET48.
Trending news
MoreCrypto prices
More
