The gaming industry has been growing rapidly, and it’s expected to grow even more. Many crypto projects are targeting this market, and they’re all trying to take their share of the pie. Many cryptocurrencies are dedicated to gaming, and it can be challenging to choose which ones to invest in. The top three gaming cryptocurrencies are AXS, WEMIX, and MANA.
Axie Infinity (AXS)
Axie Infinity is an innovative game that seamlessly bridges the gap between blockchain and gaming. Its two inspirations are Tamagotchi and Pokemon Go. To compete in the game, you must connect your digital wallet and collect Axies. You can then start to train, breed, and battle them with other Axies to win rewards and points.
The Axie Infinity token is an excellent option for those looking to invest or trade. The game will appeal to multiple generations with its roots in Pokemon, and we’re also looking at integrating VR and events in the future. Axie Infinity also has a long lifespan and many stages of development in its future. Investors will be rewarded as the game grows and gains traction among players.
On a 1D timeframe, the price action of $AXS/USDT has broken the descending channel support trendline. Currently, the price is moving downwards.
WEMIX (WEMIX)
A few months ago, the South Korean gaming company Wemade decided to issue its stablecoin on its blockchain, WEMIX Play. Their platform is currently supporting 16 blockchain games at this time.
A share of each fee generated by WEMIX$ transactions and trades based on the currency will go back to the WEMIX holders to keep the positive cycle going. WEMIX plans to create a staking program and use a certain percentage of the money made from the WEMIX3.0 ecosystem for this program.
On a 2H timeframe, the price action of $WEMIX/USDT is rejected from the resistance zone. Currently, the price has broken the support zone. If it is retested successfully, then further, it can go down.
Decentraland (MANA)
MANA is a Metaverse-based coin and a virtual reality platform where users can explore their imaginations. You can buy virtual land, build the network, and buy other users’ content or locations on the map.
The decentralized virtual world, Decentraland, just tweeted that it currently has around 8,000 daily active users (DAU) and is working with DAppRadar to widen its tracking to include additional smart contracts and transaction types to get more accurate numbers. Decentraland is one of many possibilities if you’re looking for a good “get rich quick” investment. In the cryptocurrency world, small investments can eventually lead to great rewards.
On a 1D timeframe, the price action of $MANA/USDT consolidates inside the falling wedge. We must wait for a successful breakout or breakdown to confirm its next move.
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Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
