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Gaming Cryptocurrencies have recently gained a lot of attention in the gaming world, primarily due to their ability to provide quick & secure transactions. Cryptocurrencies have allowed for quick and secure transactions, making them an attractive option for gamers and game developers.
As a result, the gaming industry has seen the emergence of gaming cryptocurrencies specifically designed to cater to the needs of gamers. This article will examine the top 3 gaming cryptocurrencies worth considering as investments.
Enjin Coin (ENJ)
ENJ is an ERC-20 token built on the Ethereum blockchain to simplify the utilization of non-fungible tokens (NFTs) for individuals, businesses, and brands. ENJ is the direct backing for the value of NFTs minted within the Enjin ecosystem.
Enjin Coin offers a unique approach to incorporating blockchain technology into the gaming industry. It gives players more control over their in-game assets and allows game developers to create more immersive and engaging experiences. Additionally, APEcoin was created to promote charitable & environmental activities. Therefore, a portion of each transaction fee is allocated to the charity wallet of this platform, from where it can be further distributed to non-profit organizations.
The technical analysis reveals that the lowest ApeCoin price in 2023 will be $7.58, and the highest is predicted at $9, with an average value of $7.80. ApeCoin (APE) is becoming one of the biggest gainers in the cryptocurrency market this year. In addition, the APE Protocol has had impressive successes recently, making it a great investment opportunity for 2023.
In the 4H timeframe, the price action of $ENJ/USDT is moving inside the Ascending broadening wedge. Currently, the price is getting rejected from the resistance trendline of the wedge. Therefore, we must wait for a successful breakout or breakdown to confirm its next move.
Decentraland (MANA)
Mana (MANA) is a cryptocurrency in the virtual world platform called Decentraland. It is a decentralized virtual reality platform developed on the Ethereum blockchain, which allows users to create, experience, and monetize content and applications. Mana serves as the primary currency used within Decentraland’s economy. It is used to buy and sell virtual land and other virtual goods and services within the platform. Mana tokens are also used to pay transaction fees on the Decentraland network.
Mana (MANA) cryptocurrency is used in gaming to facilitate virtual economies within the Decentraland virtual reality platform. Decentraland provides a unique opportunity for gamers to experience a new type of economy that is fully decentralized and controlled by the users. This creates an environment where gamers can own and monetize their virtual assets in a way that was not possible before.
Overall, Mana plays a significant role in the gaming industry by providing a new way for gamers to experience virtual economies within the Decentraland platform. As the popularity of virtual reality continues to grow, Mana and Decentraland have the potential to become major players in the gaming industry.
In the 12H timeframe, the price action of $MANA/USDT is consolidated inside the symmetrical triangle. 4EMAs is also above the price action. We have to wait for a fruitful breakout or breakdown to confirm the next direction of MANA.
Axie Infinity (AXS)
AXS (Axie Infinity Shards) is a cryptocurrency used in gaming through the Axie Infinity platform. Axie Infinity is a blockchain-based game that allows players to breed, battle, and digitally trade creatures called Axies. Each Axie is unique and can be used in battles against other players.
One of the key features of the Axie Infinity platform is its play-to-earn model. Gamers of Axie Infinity can be rewarded with AXS and other forms of cryptocurrency for simply playing the game and engaging with various features in the universe. This has led to a growing community of players who can earn a living through playing Axie Infinity. In addition to being used within the Axie Infinity platform, AXS can be bought and sold on various cryptocurrency exchanges, with its price determined by market supply and demand.
Axie Infinity has recently demonstrated considerable promise, presenting a favorable prospect to explore and potentially invest in. In the 2H timeframe, the price action of $AXS/USDT has broken the horizontal S/R zone. A downward movement is expected from here.
For any time, on-demand analysis on any other coin can join our Telegram channel.
Closing Thoughts
The Crypto market is known for its volatile nature. According to the above analysis, the coins we discussed might prove to be profitable if other market conditions prevail favorably. We suggest you engage in adequate research before investing in any digital assets.
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