The market is up – among the biggest crypto gainers today are the coins of play to earn crypto games Axie Infinity and Gods Unchained.
ApeCoin and Lucky Block also put in strong moves to the upside, alongside Bitcoin pumping to $32,200 and Ethereum to $2,000. The overall crypto markets are a sea of green, but P2E cryptos stand out.
Many play to earn crypto coins were oversold – during a bear market altcoins suffer more than BTC and ETH and there’s less incentive to play crypto games when the rewards are dropping, as they’re paid out in the game’s native token.
Now that BTC and ETH are putting in a strong bounce, the same beta assets to Bitcoin – dropping more when it drops, rising higher when it rises – are up double digit percentages, when BTC are only +7% and +9% on the day.
Lucky Block launched an app for a decentralized jackpot game platform today, ahead of their first draw on May 31st where they’ll award two separate $1 million jackpots. One to an NFT holder, the other to those that buy tickets – with LBLOCK token holders each receiving a free ticket if they hold $500+ worth of the native coins.
The successful app launch caused a 20% spike in the price – and the market cap is still low at around $90 million, with room to grow. In fact it’s not even high enough to register a ranking on Coingecko yet.
In February the LBLOCK price almost hit one cent, a 60 – 65x bull run from presale and its launch on Pancakeswap. The 91% correction after that looks to have found a bottom now that this play to earn project is ready to demonstrate their token’s use case.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
People seem to have forgiven and forgotten the issues that faced Yuga Labs’ latest NFT drop – the genesis mint of Otherdeeds for Otherside NFTs, virtual real estate in the Otherside metaverse.
That minting was plagued by high gas fees and other complications – APE sold off as a result. It also emerged that this play to earn crypto wouldn’t be the only one to be used to buy and sell Otherside land – Ethereum would be too.
It appears to have been oversold though – retracing 82% from $27 to $5, before bouncing. Today it’s up 15% and this volatile play to earn coin may be ready to start a new bull cycle.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
GODS looks set to finally leave the sub $1 area behind – it already wicked above it last week before Bitcoin flipped bullish, and it up 18% in the past 24 hours. In our Gods Unchained price prediction article we noted how oversold the GODS coin is – retracing 97.5% from December 2021’s all time high.
The GODS market cap has now dropped to just $17.5 million – potentially a good time to invest as there have been bullish development on its roadmap like support being added for NFT royalties, part of which goes into the GODS token staking pool.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
One of the original and most famous play to earn crypto games is of course Axie Infinity – after a 160,000% bull run AXS has retraced 87% so far from its all time high of $165.
In our Axie Infinity price prediction article we speculated that the bottom may be in, or close to it. Today’s 30% impulse move to the upside could be the start of a new uptrend, at least in the short term.
AXS is one of the top crypto gainers today on exchanges – the #1 on eToro’s daily movers list. The market cap is still high however at $1.4 billion.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
Next 10x Crypto – Lucky Block (LBLOCK)
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This article was written for Business 2 Community by Michael Abetz.
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Michael has been investing in cryptocurrency since the 2017 bull run, and is a freelance writer producing educational material on decentralized finance topics online.… View full profile ›
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