Play-to-earn (P2E) games, digital platforms that let users earn rewards by playing, are gaining popularity. Their concept of allowing gamers to monetise their games has boosted the value of their in-game currencies. Cryptos native to Decentraland, Sandbox, and Axie infinity has the potential to rally post the bear market.
Decentraland MANA
Topping is Decentraland (MANA/USD), an Ethereum-based token, ranked # 47 with a valuation of $1.3 billion. It powers Decentraland, a blockchain comprising Games, NFTs, and user-managed experiences. The Decentraland concept is big on LAND NFTs, also referred to as virtual platforms that enable users to interact.
Source: Tradingview
From the daily chart, MANA is consolidating at $0.603 support after a trend of lower highs and lower lows. If the level does not hold, the token could find lower support. On the contrary, $0.671 is the immediate resistance.
Where to buy MANA
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
The Sandbox SAND
Second on the best P2Es to watch is Sandbox (SAND/USD), currently trading at $0.7472, with a market cap of $1 billion. Although the price is a fraction of its $7.5 ATH, the platform is ranked as one of the largest GameFi platforms. Sandbox has been attracting corporate investors, the latest being Paris Hilton for cryptoween experience.
Source: TradingView
According to the daily chart above, SAND has been on a strong sell-off. The possible retracement levels in the next leg up are $0.86, $0.95, $1.03, and $1.10, all at the Fibonacci levels.
Where to buy SAND
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Axie Infinity AXS
The NFT-based online game, developed by Sky Mavis, had significant success last year. Its native token, AXS, traded at the peak of $160. However, the crypto winter has since eroded the gains to as low as $9 at the moment, representing a market cap of $1 billion. As CoinJournal reported, news of unlocking more Axie Infinity Shards contributed to the latest decline.
Despite the huge selloff, Axie Infinity remains a strong P2E platform, recently releasing Game Raylights, the first blockchain land mini-game. With its popularity among play-to-earn investors, it has the potential to return big gains in the next bull run.
Source: TradingView
AXS lost $12 support on October 5. The momentum indicator, RSI, is at 33, above the oversold zone, meaning AXS could be due for a trend reversal.
Where to buy AXS
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.