The cryptocurrency market has experienced high volatility in recent days, with Bitcoin (BTC) dropping to $35,000. Altcoins followed it with a sharp drop, but quickly recovered, showing the market’s resilience in face of geopolitical tensions taking place across the world.
The declines became even steeper among tokens with smaller market capitalization. Cumulative drops over the past week exceed 30% across several tokens. Few cryptoactives have stood out, and are still holding gains accumulated over the past week.
During the downturn, two cryptoassets stood out as investors sought options to shield themselves from the mini-crash. This was the case with the Anchor Protocol (ANC) and the recently updated Battle for Life (BFL) crypto-game.
The Anchor Protocol (ANC) was the only coin in the top 100 that withstood volatility and didn’t fall with the rest of the market. In the last 7 days it has increased by more than 50%
Considered the “New AXS”, the BFL Token is a play-to-earn governance token inspired by the battle royale style. It stood out in the face of the fall of the rest of the market, increasing its value by more than 30% with the official launch of its farm mode.
Farming mode also expands the game’s options in the Non-Fungible Tokens (NFTs) market, which has grown in popularity.
Disney recently stated that it is investing in the industry as a vital step towards its future. NFTs can represent proof of ownership, manage licensing, grant exclusive access and certify authenticity.
The first blockchain application was to create ideal money. However, additional applications were identified after that, and is now being employed by big players in the gaming business. This is an industry that is expected to grow exponentially over the next few years.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2022/02/cryptomarket-shows-resilience-in-face-of-geopolitical-tensions-2-assets-stand-out-in-the-last-24-hours