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GameFi collectively comes back to life—AXS rises 23% in one day, do you believe it?
The GameFi sector, which had been silent for several months, suddenly erupts:
AXS +23%, trading volume surges 630%
SAND +22.7%
MANA +20.3%
GALA +7.6%
Open interest in AXS futures contracts soars 91%, exchange reserves decrease 29%—it's not old players leaving, but new funds entering. The question is: is this a true revival of GameFi, or just another dead cat bounce?
The last GameFi bull market was based on "Play-to-Earn," but P2E turned into Play-to-Dump.
This time, if it's just a rebound from oversold levels, the slowpokes will be the bagholders again.
A. True revival—GameFi valuations have bottomed out, a new narrative is coming
B. Dead cat bounce—without new games or new gameplay, the rebound is just an opportunity to sell off
#GameFi #AXS #SAND #Crypto Market