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Top 3 Gaming Crypto for 2023: BUY these Altcoin Gems?

Which altcoins gems to buy related to gaming? In this article, we go over the top 3 gaming cryptos for 2023 that have big potential.

The prices of cryptocurrencies have been on the rise in recent months, with many digital assets experiencing significant gains. This has led to increased interest in the crypto market, as more people look to invest in digital currencies. One important aspect of investing in the crypto market is the ability to identify “altcoin gems” – lesser-known cryptocurrencies that have the potential for strong returns. In this article, we go over the top 3 gaming cryptos for 2023 that have big potential.

What are Gaming Cryptos?

Gaming cryptos, also known as in-game currencies or virtual currencies, are digital assets that are used as a medium of exchange within a specific video game or gaming platform. These currencies can be bought, sold, and traded on various online marketplaces and exchanges, and can be used to purchase virtual goods and services within the game. Some popular examples of gaming cryptos include Enjin Coin (ENJ) and Decentraland’s MANA.

These currencies are built on blockchain technology, which allows for transparency, security and immutability of transactions. In some cases, gaming cryptos can also be used to purchase physical goods and services outside of the game. The use of gaming cryptos is growing in popularity as it allows for more fluid and secure transactions within the gaming industry, and also opens up new opportunities for revenue streams for both game developers and players.

Are Gaming Cryptos Risky?

Owning gaming cryptos can be considered risky, just like any other investment in the cryptocurrency market. The value of gaming cryptos can be highly volatile and subject to market speculation. The market for gaming cryptos is still relatively new and not fully regulated, which also adds to the risk. Additionally, the success of a specific gaming crypto is closely tied to the success of the game or platform it is associated with. If the game or platform becomes less popular, the value of the associated crypto may decline.

Top 3 Gaming Cryptos for 2023

Axie Infinity (AXS)

Sky Mavis is a technology-focused gaming studio that was established in early 2018 and is the creator of Axie Infinity. Pokemon and Tamagotchi video games served as inspiration for the entire Axie saga. Axie Infinity is categorized as an NFT game that enables players to get money by participating in game-related activities such as breeding, racing, combat, and trading Axie animals. 

AXS is the governance token. Those tokens allow their holders to earn a slice of the Axie universe as they’ll have governance rights and fee-sharing built into it. Players can earn this token by simply playing!

Upland (UPX)

Decentraland (MANA)

Decentraland is a decentralized virtual reality game built on the Ethereum blockchain. It allows users to create, experience, and monetize content and applications in a virtual world. The platform utilizes a cryptocurrency called MANA, which is used to purchase and trade virtual real estate and other in-game items. Users can buy and sell virtual land parcels, called LAND, in a virtual world using MANA. These land parcels can then be used to create and monetize content, such as games, social experiences, and digital art.

Source: Altcoin

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4 bearish factors for Bitcoin this week

The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar Bitcoin might give up some of its 2023 gains on a hawkish Fed All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening The Federal Reserve’s monetary policy decision is scheduled this week. It is the […]

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

  • The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar
  • Bitcoin might give up some of its 2023 gains on a hawkish Fed
  • All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening

The Federal Reserve’s monetary policy decision is scheduled this week. It is the first time the FOMC (Federal Open Market Committee) meets in 2023, and the stakes are high for the US dollar.

Bitcoin has strengthened against the US dollar in January so far, in sync with other fiat currencies. Therefore, whatever the Fed decides on Wednesday will affect Bitcoin price too.

A hawkish Fed may turn up being bearish for Bitcoin. These are the four areas where the Fed may express its hawkishness: inflation outlook, growth outlook, interest rates level, and quantitative tightening.

Inflation outlook

The Fed is committed to bringing inflation to its 2% target. This is why it has raised rates so aggressively, so if the Fed says that inflation is embedded and upside risks remain, then the US dollar should move higher.

In this scenario, the market will bet that the Fed sees ongoing rate hikes as appropriate.

Growth outlook

The currency stance is that a sustained period of below-trend growth is likely. If the Fed changed its view and sees recession required to have a material impact on the inflation outlook, that would also trigger a sharp move higher in the dollar.

Interest rates

Ultimately, it is all about the interest rate level. The funds rate range has reached 4.25%-4.50%, and all eyes are on what the Fed does and says on Wednesday.

The base case scenario is that the Fed will hike by 25bp and says that ongoing interest rate increases are appropriate. Therefore, anything more than that should be bullish for the dollar and bearish for Bitcoin.

For example, the Fed might hike 50bp. This is a risk going into the meeting, especially considering that inflation is not backing down as fast as initially thought.

Quantitative tightening

The Fed currently shrinks the balance sheet at a pace of $95 billion/month. A decision to accelerate the balance sheet reduction would be very hawkish for the dollar.

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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