Gaming tokens see strong growth on Ethereum as more people venture into the space
Artemis reported that gaming protocols such as The Sandbox (SAND), Axie Infinity (AXS), and their project tokens ($SAND, $ENJ, $CHZ, and $AXIE) have seen significant growth on the Ethereum network. This increase in gaming activity has resulted in an increase in the number of distinct active wallets for these dApps. This has a positive effect on transactions and network volume as a whole, which is good news for Ethereum.
Ethereum’s NFT sector sees significant growth due to increased gaming activity
Gas consumption on the Ethereum network has increased as a result of the increase in gaming activity. Ethereum benefits from an increase in gas consumption because it demonstrates increased network activity and demand for decentralized applications, strengthening the utility and value proposition of the network. According to Santiment’s data, there has been a significant increase in the number of NFT trades conducted on the Ethereum network in recent days, indicating that interest in Ethereum’s NFT sector has also increased.
However, while established blue-chip NFT collections like BAYC, MAYC, and Azuki have seen significant declines in volume and sales over the past month, the increase in NFT interest has primarily been driven by newly minted collections.
Ethereum’s NFT members exceed 7.09% in revenue
Validators on the Ethereum network, in addition to NFT supporters, have demonstrated increasing numbers. As per Marking Prizes information, the quantity of validators has expanded by 7.09%. However, during the same time frame, these validators’ revenue decreased significantly by 46.35 percent. Stakeholders’ future optimism regarding ETH is still uncertain.
Source: https://www.cryptoknowmics.com/news/ethereum-explores-new-frontiers-in-comeback-endeavor