Bittime – The GameFi is on a positive trend! Bitget Gamefi Zone reported a 200% surge in GameFi sector trading volume over the past week.
Precisely on March 10 at 11:30 pm UTC+8, trading volume jumped 126% in 24 hours. This drastic increase is believed to have been driven by a 48% increase in the number of daily traders over the past week.
Crypto exchange Bitget also identified the tokens that are leading the surge in the GameFi sector. GALA leads with a 75% seven-day gain, followed by YGG and PIXEL which are up 72% each. In the next position, MAVIA and GF experienced increases of 54% and 43% respectively.
The positive trend continues into the next ranking. SHRAP rose 38%, RACA 34%, RON 33%, NAKA 29%, and BNX 28%.
According to Ryan Lee, chief research analyst at Bitget, there are several factors driving the surge in the GameFi sector. One of them is anticipation for the Game Developers Conference 2024 which will be held on March 18-22.
Over the past weekend, several tokens in the GameFi space, such as YGG and GMT from the previous bull market, saw significant increases.
Lee predicted that "leading up to and during the conference, certain projects may take advantage of the increased market focus to announce positive developments, potentially strengthening momentum in the GameFi sector."
Furthermore, Lee stated that advances in blockchain technology increase the potential of blockchain games, while the entry of well-known gaming companies will increase the overall quality and appeal of these games.
How Are GALA, YGG, and PIXEL Prices Today?
The following explains the price analysis of GALA, YGG, and PIXEL in the last 24 hours. The graph is taken from the price overview on Bittime. The indicators used are RSI, Bolinger Bands, and MACD.
Overview of GALA Prices Today
Source: Bittime
In IDR, GALA is at 1,107 with a decline percentage of -0.09%. A very low decline rate. The graph above also notes that the highest price for GALA was 1,178 in IDR.
Check Today's Crypto Market:
YGG Price Overview Today
Source: Bittime
YGG has recorded a price increase in the last 30 days. YGG's price predictions for the long term are also promising.
The YGG price in the last 24 hours according to the graph above is IDR 15,432. This price was recorded after experiencing an increase of -0.22%.
Overview of Today's PIXEL Prices
Source: Bittime
PIXEL IDR experienced a price decline of -4.35% in the last 24 hours. This decrease makes PIXEL have a price of IDR 13,038. This decline is not surprising because PIXEL prices fluctuate quickly. This was noted because previously, PIXEL IDR was at a price of 15,366 a few hours earlier.
Also Read How to Buy Crypto:
Opportunities and Challenges in the Future of GameFi
Analysts believe that the GameFi sector has a bright future. Advances in blockchain technology enable more immersive gameplay and ownership of in-game assets. Additionally, interest from major gaming companies could attract traditional gamers to the world of blockchain.
However, the GameFi sector also faces several challenges. One of the main challenges is the lack of widespread adoption.
Many blockchain games are still in the early stages of development, and may not yet offer a gaming experience comparable to traditional games.
Another challenge is the high fluctuation in game token prices. The value of game tokens can be highly volatile, which can discourage investors and frustrate players.
In addition, regulations regarding crypto assets are still unclear in many countries. This may create uncertainty for businesses and investors in the GameFi sector.
Nonetheless, experts are optimistic about GameFi's future. With continued innovation, wider adoption, and clearer regulations, GameFi has the potential to become an important segment of the overall gaming industry.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Getting to Know Gala Games: Complete Guide to Buying GALA Coins
Should You Invest in PIXEL? These Are Things to Consider
What is Yield Guild Games? The World's First and Largest Web3 Game DAO
DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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