GameFi And DeSci Sectors Surge Amid Market Downturn

According to PANews, the cryptocurrency market has experienced an overall decline, with most sectors showing a downward trend. However, the GameFi and DeSci sectors have defied this trend, posting gains of 9.52% and 3.35%, respectively. Within the GameFi sector, The Sandbox (SAND) saw a significant increase of 65.24%, Decentraland (MANA) rose by 29.56%, and Axie Infinity (AXS) climbed by 14.27%. The ssiGameFi index, which reflects the historical performance of the GameFi sector, is currently priced at $10.4, marking a weekly increase of 31.17% and a monthly rise of 62.84%. In addition, the DeSci sector recorded a 3.35% increase. Notable performers within this sector include Rifampicin (RIF), which surged by 27.98%, Urolithin A (URO) with a 26.34% rise, and VitaDao (VITA) which increased by 8.47%. Analysts from SoSoValue suggest that the DeSci sector's growth may have been influenced by comments from Mechanism Capital partner Andrew Kang, who likened the current state of the DeSci field to the early days of DeFi in 2019, highlighting its significant potential.