After a dormant 2022 and much-muted 2023, GameFi projects are making a comeback as the bull market rages.
Altcoins showed impressive double-digit gains after Bitcoin bulls successfully pulled BTC price back above the $61,000 level.
Analysts are bullish on the long-term prospects of Bitcoin but do not expect the uptrend to start in a hurry. Bitfinex Alpha market report said that Bitcoin could stay range-bound for one to two months “with swings of $10,000 on either side.”
Today, we analyze the top gaming tokens that have emerged as the 24-hour losers, examining the factors contributing to their decline in today’s market
Gaming Token Losers
- GameGPT $DUEL: -6.90%
- GuildFi $GF: -6.18%
- Zentry $ZENT: -4.88%
- Farcana $FAR: -3.59%
- BADMAN ROBOTS $METAL: -3.09%
- Shrapnel $SHRAP: -2.78%
- Guild of Guardians $GOG: -1.95%
- Immutable $IMX: -1.31%
- DeRace $DERC: -1.04%
- Beam $BEAM: -0.78%
GameGPT, GuildFi and Farcana have all experienced minor declines in value, reflecting challenges and uncertainties within the gaming token sector. While these tokens may face short-term headwinds, their underlying fundamentals and resilience may pave the way for potential recovery in the future.
As per data from DappRadar, the number of unique active wallets in GameFi has more than doubled over the past year to 2.54 million.
However, investors should exercise caution and conduct thorough research before making investment decisions in the volatile gaming token market