Tuesday, July 5

Games to win cryptocurrencies surpass DeFi in popularity

Key facts:
  • P2E games have concentrated more than 1.2 million users connected simultaneously.

  • The number of users in decentralized finance (DeFi) has fallen 45% in the last month.

The games play-to-earn (or P2E, “play to win”) are being the sensation when it comes to decentralized applications.

In the month of November, these video games that allow you to win various tokens or cryptocurrencies, achieved their historical maximum of more than 1.2 million users connected simultaneously. The number of users on P2Es is outpacing those of decentralized finance (DeFi).

According to an analysis by Bloomberg, based on the data you provide DappRadar, near to 50% of wallets connected to a decentralized application corresponded to a P2E game, while the number of users connected to DeFi platforms fell by 45% last month.

The most popular DeFi in the top 10, according to DappRadar data, move an average of 78 thousand daily users. PancakeSwap, in the first place, has an average of 500 thousand users, while, in second place, Katana, only moves 38 thousand (less than 10% of the volume of PancakeSwap).

In comparison, the top 10 of the P2Es move 106 thousand users per day, on average. And it should be noted that many decentralized exchanges – like the two mentioned above – could owe some of their growth to use by the gaming community. Katana, in particular, was released by the developers of Axie Infinity.

Pedro Herrera, an analyst at DappRadar mentions: “we see around 80 to 100 million daily game transactions.” This is said in reference to the volumes that P2E games are currently mobilizing.

While the games play-to-earn They are established as the most used by users, the largest amount of money is still concentrated in DeFi, taking into account that exchanges live here. investment platforms, loans, etc.

According to data from DappRadar, currently the DeFi has more than USD 1,400 million blocked, moving more than USD 1.7 billion daily, a fairly high volume compared to the USD 9.4 million moved by P2Es.

The popularity of Axie Infinity and the growth of P2Es

In this growth of games to win cryptocurrencies, Axie Infinity is crowned with the most popular. With an average that exceeds 100,000 users connected daily, this game has become one of the most successful in the entire ecosystem.

At the beginning of November, Axie Infinity reached its historical maximum in the number of connected users, exceeding 130 thousand. Source: DappRadar.

According to a recent analysis carried out by CriptoNoticias, Axie Infinity is found as the NFT platform with the highest market value, surpassing the mark of the USD 3 billion. Regarding daily market volumes, Axie moves an average of USD 100 million in securities, staying at the top of the list.

Axie Infinity has been, according to the data, the most popular game of the fever play-to-earn. This popularity is reflected in the fact that entire communities use this game as their source of income. A Venezuelan politician even used it as part of his electoral campaign.


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