Weeks later, the entire crypto market is still reeling from the spectacular downfall of LUNA and UST, with bearish sentiments clinging onto the crypto community like a thick miasma of despair. In these tough times, users can seek sanctuary in the solace of GameFi, momentarily escaping reality in the sweet joy of games and bountiful rewards...or can they?
After a 27-46% tumble last week, the GameFi sector as a whole may have found some reprieve, with 3 of the top 5 tokens (AXS, SAND, ENJ) registering a slight recovery in price over the past 7 days. GMT and GALA, on the other hand, have largely moved sideways and failed to recover from the downturn that plagued both the overall and NFT markets. Read on as we investigate how the general GameFi and NFT market have fared in these trying times.