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Play-to-Earn (P2E) games, a digital platform where users can play and earn rewards, are growing in popularity. Their concept of allowing gamers to monetize their games has increased the value of in-game currency. Cryptos native to Decentraland, Sandbox and Axie infinity could converge after a bear market.
the topping is Decentraland Ethereum-based token (MANA/USD) ranked 47th with a valuation of $1.3 billion. It powers Decentraland, a blockchain composed of games, NFTs, and user management experiences. Decentraland’s concept is key in his LAND NFT, also called a virtual platform that allows users to interact.
Source: Trading View
According to the daily chart, MANA is consolidating at $0.603 support after the downtrend of highs and lows. Tokens may find lower support if levels are not maintained. Conversely, $0.671 is the immediate resistance.
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The second best P2E to watch is sandbox (SAND/USD), currently trading at $0.7472 with a market cap of $1 billion. Priced at a fraction of $7.5 ATH, the platform ranks among the largest GameFi platforms. The sandbox is attracting corporate investors, the latest being Paris Hilton, who has experience with cryptovien.
Source: Trading View
According to the daily chart above, SAND is in a strong sell. Possible retracement levels on the next leg are $0.86, $0.95, $1.03 and $1.10, all at Fibonacci levels.
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An NFT-based online game developed by Sky Mavis was a huge success last year. Its native token, his AXS, traded at a peak of $160. However, crypto winter has since pushed profits down to $9 at the moment, representing a $1 billion market cap.as a coin journal reportwhich has unlocked more Axie Infinity Shards, contributed to the recent decline.
Despite the huge sale, Axie Infinity remains a strong P2E platform and recently released its first Blockchain Land mini-game, Game Raylights. Due to its popularity among investors who want to make money, it could bring big profits in the next bull market.
Source: Trading View
AXS lost $12 support on Oct 5th. The RSI, a momentum indicator, is 33, crossing the oversold zone.
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Bitstamp is a leading cryptocurrency exchange offering fiat or cryptocurrency trading in general. Bitstamp is a fully regulated company that offers its users an intuitive interface, high security of their digital assets, excellent customer support and multiple withdrawal methods.
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