Renowned analyst Elliot Wainman believes that an area of ​​the blockchain will serve as a means to bring cryptocurrencies to the masses.

Wainman speak With its 342,000 YouTube followers, the market move shows that blockchain game projects are pioneers in the widespread adoption of cryptocurrencies.

“Games are the only thing I see that is really separate from the crypto ecosystem. Because if you play a game and really enjoy it, it has an intrinsic value. “

As evidence, Wainman points to the incredible growth of the blockchain-based trading and fighting game Axie Infinity amid a bear market.

Axie Infinity’s governance token, AXS, trades at $ 25.07 at press time and is up 497.6% over the past 30 days, according to CoinGecko.

Analysts attribute the price increase to user growth rather than hype.

“Axie Infinity and its counterpart, Smooth Love Potion, are part of the Axie Infinity ecosystem … The Axie Infinity ecosystem has a commercial market volume of $ 27 million and 24,000 active traders with 49,000 deals. And only for the last 24 hours.

If you look at the past 30 days, you will see crazier things. They are $ 344 million in volume with 132,000 traders and nearly 850,000 trades. What you see here is user acceptance and user acceptance.

I said a long time ago that users are key because if you have users you have network growth, and if you have network growth with a limited inventory of assets then you have high quality assets. It’s a very obvious way to add value to the crypto ecosystem. “

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According to Dailyhodl

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