I have noticed that the tokens of the top NFT games have been showing an interesting pattern lately. Despite declining volumes, AXS, SAND, and ILV maintain a solid buying pressure that I didn't expect to see.

Let's start with AXS: it rose to $1.28 with a +1.30% increase in the last 24 hours, and here the interesting thing is that volume has decreased but prices have not dropped. The market capitalization reached $220.76M with 172.9 million tokens in circulation. This tells me there is serious accumulation behind the scenes, even if superficial data suggest weakness. Axie Infinity remains one of the best play-to-earn NFT games for a reason.

The Sandbox performed even better: +4.27% and now trades at $0.08. Volume has fallen to $18.21K but market cap has risen to $213.41M. With 2.67 billion tokens in circulation out of 3 billion total, the volume-to-cap ratio remains interesting. SAND continues to prove itself as one of the best blockchain games in 2025, at least in terms of structural stability.

And then there's ILV, which I personally am keeping an eye on. +4.66% at $5.14, volume decreased to $8.98K but market cap is rising to $42.58M. With 8.28 million tokens in circulation, the liquidity-to-market cap ratio is still decent. Illuvium shows resilience that suggests genuine underlying demand.

What strikes me is that all three top NFT games are recording gains despite overall volumes contracting. This is not the pattern you see when the market is really suffering. It looks more like a consolidation phase before a bigger move. If sentiment in NFT gaming continues to build, we could see these tokens extend their gains further in the short term.