Web3 gaming tokens face steeper declines amid crypto-wide market downturn
The post Web3 gaming tokens face steeper declines amid crypto-wide market downturn appeared on BitcoinEthereumNews.com.
The market value of Web3 gaming tokens is currently at $8.83 billion, down 69% year-over-year and 34% in the past month, against the backdrop of a partnership news-filled crypto winter that has failed to boost volumes. At the end of November, the GameFi sector experienced a temporary bullish spell that saw its market capitalization rise by 7% in 2 weeks, approaching $10 billion, while trading volume surged 103% to reach $6.1 billion. The rally was rather short-lived, capped by a correction on December 1 that pushed the industry’s market value below $9 billion for the first time in over a year, according to CoinMarketCap charts. The decline comes amid a crypto winter that has failed to translate partnership announcements and platform developments into meaningful trading volumes. Web3 gaming is one of the most hyped segments of the blockchain industry that has been struggling to maintain relevance since its inception. Few tokens record over 30% profits, losses are heavier Only a few tokens survived the piercing breeze of the winter market in December, including the Game Company (GMRT) with a 142% increase, followed by Echelon Prime (PRIME) at 44.4%, Veracity (VRA) at 25.06%, and VisionGame (VISION) with a 20.45% uptick. Conversely, Web3 gaming tokens that recorded steep losses in the last 24 hours are My Lovely Planet (MLC) and CateCoin (CATE), which fell in value by 22% and 20% respectively. According to CoinMarketCap’s end-of-November report, GameFi landed at number 16 on DeFiLlama’s narrative tracker, a weakening influence compared to previous months, despite most DeFi markets having recorded positive inflows from the start of the second half of 2025. Amid the market downturn, several companies within the Web3 gaming ecosystem announced strategic partnerships last month. Cryptopolitan had reported on November 27 on Pi Network’s collaboration with CiDi Games to expand the real-world…
