Over $1B in bearish positions liquidated as crypto markets rebound, lifting Web3 gaming tokens
In a surprising turn of events, the cryptocurrency markets have experienced a significant rebound, leading to the liquidation of more than $1 billion in bearish positions. This resurgence has particularly benefitted Web3 gaming tokens, which are seeing increased investor interest and market activity.
Solana-based strategy game Honeyland joins BRAVO READY’s portfolio through recent acquisition
The popular Solana-based strategy game, Honeyland, has been acquired by BRAVO READY, adding a notable title to its portfolio. This acquisition highlights the growing interest in blockchain-based gaming and the strategic moves companies are making within this evolving sector.
CROSS leads GameFi performance, surging 219% and outpacing the broader sector
CROSS has emerged as a standout performer in the GameFi sector, witnessing an impressive surge of 219%. This growth has significantly outpaced the overall market, showcasing the potential of blockchain gaming and its ability to attract investor attention.
Buckle up as Bitcoin prints new record highs, buoyed by increased institutional appetite
Bitcoin has reached new heights, surpassing $118,000, thanks to a surge in institutional interest. This new all-time high has taken many market participants by surprise, resulting in over $1 billion in liquidations of short positions as Bitcoin continues to dominate the market.
Altcoins are in summer mode, with GameFi tokens capitalizing on the rally and closing the week with impressive gains
The altcoin market is experiencing a summer-like rally, particularly within the GameFi sector, where tokens are enjoying substantial gains. The overall enthusiasm in the market has allowed these tokens to close the week on a high note, reflecting a positive shift in investor sentiment.
Gunzilla Games grabbed headlines after its GUN token went live on Solana, as GameFi projects favor multi-chain layouts
Gunzilla Games made waves in the GameFi community with the launch of its GUN token on the Solana blockchain. Despite the excitement surrounding its release, the token only saw modest single-digit gains this week, suggesting that market conditions are still evolving.
Here is what happened in GameFi this week
This week witnessed a remarkable rise in leading Web3 gaming tokens, with many achieving double-digit gains. The combined market capitalization of the sector increased by 15%, nearing $19 billion, while trading volume surged by 65%, indicating a revitalized market sentiment.
The Fear and Greed Index edged up from last week’s neutral territory of 58 to greed at 67
The Fear and Greed Index has shown signs of optimism, climbing from a neutral score of 58 to a greed level of 67. However, Bitcoin remains the dominant force in the market, with its market share experiencing only a slight decline. The question on many investors’ minds is whether an altcoin season is on the horizon.
Top Gainers
Cross (CROSS) has led the GameFi sector with a remarkable rise of over 200%, fueled by Binance’s introduction of 50x leveraged perpetual contracts. X Empire (X) managed to recover from last week’s setbacks, converting losses into gains.
Top Decliners
After a considerable 127% increase in the previous week, HashFlow experienced a swift capital rotation as traders sought to capitalize on profits, resulting in a pullback. Despite this, all sectors ended the week positively, with GameFi ranking seventh in DeFiLlama’s crypto narrative tracker.
Emerging GameFi Projects
The following information is intended to highlight some promising GameFi projects for the benefit of readers, without endorsing any specific ones. It should be noted that none of this information constitutes financial advice.
Honeyland Overview
Honeyland is a blockchain-based play-and-earn game utilizing the Solana network. Players oversee NFT bee colonies, directing bees on missions to collect Honey (HXD), breed new bees, and gather valuable in-game resources. The game features both PvE and PvP modes, allowing for competitive challenges and resource management.
Cross Overview
CROSS operates as a gaming-optimized layer-1 blockchain with complete EVM compatibility. It provides a modular infrastructure tailored for on-chain games, including essential tools like SDKs, a decentralized exchange (DEX), a bridge, and a wallet. The $CROSS token serves multiple purposes, such as powering gas fees, governance, and staking, with a capped supply and no future minting planned. The mainnet and wallet are already operational, and CROSS is actively integrating new games.
Final Call: Kokomo Games Beta
Kokomo Games is currently offering free early access to its Web3 mini-gaming platform through an incentivized beta program. Selected testers can engage with the platform, earn rewards, and influence its development ahead of its official launch scheduled for Q3 2025. The project boasts backing from prominent figures like Steve Aoki and SoftBank and aims to merge casual gaming with blockchain incentives.
What You Can Do Now
As the cryptocurrency market continues to rise, investors are advised to closely monitor developments. Engage with Kokomo Games for free early access and stay informed about GameFi projects and their effects on Web3 gaming tokens.
