Investors in the cryptocurrency market who believed in the prediction that Bitcoin (BTC) would hit $ 100,000 by the end of the year now have to come to terms with the reality that even with the market leader’s recent rebound, there won’t be a year-end rally to US $ 50,000 -Dollar.
Bitcoin’s price, for example, has fallen sharply after fluctuating above $ 69,000 in November and is now struggling to stay above the 50,000 mark, dragging the rest of the cryptocurrency market down.
But for the analyst Mike ermolaev, Head of Public Relations at ChangeNOW, which hit a high of 20% on Terra (LUNA) in November, in the case of BTC the Fear Greed Index of the cryptocurrency market has fallen to 27, indicating fear.
“While it is a sign of concern for investors, it could be a great opportunity for buyers,” he said.
According to him, the current BTC price pattern is similar to that of the consolidation phase from May to July 2021.
“The weakness is likely to last through early January or late February 2022, and then we could see BTC rally to new highs, with a cascading effect on the rest of the major cryptocurrencies,” he points out.
The Metaverse and Play-to-Earn games are stealing the limelight
As BTC goes through a consolidation phase, the analyst points out that the tokens connected to Metaverse platforms and using a play-to-earn mechanism are stealing the scene in the crypto asset market and are likely to be the big sensation for 2022 will be, printing gains of over 1,000%.
He points out that the GameFi industry is already generating $ 64 billion in revenue and that this rally is expected to continue its rapid growth into 2022, even amid the poor environment in the cryptocurrency market.
“So far, most of the existing wallets – 1.23 million – are connected to blockchain games,” he notes.
Ermolaev notes that the play-to-earn gaming segment was driven by the Metaverse narrative, which enables players to earn cryptocurrencies for their gaming activities, used to purchase in-game assets or against others Cryptocurrencies or fiat-on exchanges can be exchanged.
The analyst points out that GameFI games can be categorized into two types: net mining games and fully mining based games.
“Liquid mining games require users to purchase tokens or NFTs before starting the game, while the second type of games allow players to start immediately and receive crypto assets or equipment in NFTs of the games that are sold for a profit be able.” he says.
In addition, according to ErmolaevFor a successful GameFi project, it is essential that the number of active portfolios, the transaction volume and the value of the game continue to grow.
The analyst is thus pointing to the games that will continue to grow in their number of users and thus their native chips should also gain momentum in 2022.
The expert points out that Splinterlands is one of the most popular games in the crypto market, with 310,208 unique wallet addresses that interacted with their smart contracts in the last 30 days and a total asset value of 286,787 US dollars.
This is a trading card game where the cards act as non-financial tokens, and their design is reminiscent of Pokémon cards and World of Warcraft characters. In the course of the game, a mystical world is revealed through many stories.
This game is based on the Steem blockchain and features high speed transactions. Although Splinterlands is based on the HIVE blockchain, Splinterlands tokenized assets can be transferred to the WAX blockchain via the Splinterlands WAX bridge.
“The game’s native token PLC is priced at $ 0.227192 and is not skyrocketing due to general market sentiment which is weak, but the popularity of the project could result in strong profits over the next year,” he says.
DeFi Kingdoms (JEWEL)
In second place on the list of analysts is DeFi Kingdoms, a versatile game with a decentralized exchange (DEX), a liquidity pool and a market for rare NFTs, all of which are implemented in an imaginative pixel art up to nostalgia.
The number of unique wallet addresses that have interacted with DeFi Kingdom smart contracts in the past 30 days has hit 267,598, a whopping 451% increase from the previous month.
“His JEWEL token was trading at $ 14.17, up 78.7% over the last 7 days and up nearly 75% from the previous month,” he said.
MOBOX: NFT builder (MBOX)
MBOX combines the productivity and farming of NFTs to create a free-to-play model for a play-to-earn game. The game had 205,169 unique wallet addresses for the past 30 days, up 42% from the previous month and trading $ 152,889,097.03.
“Right now, the MBOX token is trading close to $ 6.28, up 19% over the last 24 hours and 5% over the last 30 days,” he says.
X-World Games (XWG)
X World Games is a thematic games DApp in the BSC network with an NFT market. In addition to improving playability and earning mechanisms, players can acquire NFT assets that should benefit them in the long term through the volume of the game.
The analyst points out that over the past 30 months, its user base has grown 141% to 174,918 and the total value of assets in DApp’s smart contracts has reached $ 3,138,283.73.
“The project’s XWG token was trading at $ 0.1025 at the time of this writing, up 1.8% over the past 24 hours, and all indications are that it will hit a new high in the near future He concludes.
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