Non-fungible tokens (NFT) are somehow behind decentralized finance the biggest social movement that has ever been initiated under the decentralized network. Crypto projects from this sector are performing well on the stock market because they are taking advantage of the “hype” of the moment. CryptoBlades is the newest project in the NFT sector that is attracting the attention of quite a few investors.
Even more so, the crypto has seen a dramatic rise during this trading session. It is up 100% on a daily basis. It should be noted that the CryptoBlades (Skill) price is highly volatile. At the time of writing, the SKILL price has ranged from $178 towards $144 and $118 in less than 10 minutes.
What’s interesting about the crypto, for over a week now, it has been on a bullish run that has never stopped.
First, let’s introduce the project behind CryptoBlades?
According to Coingecko’s data, Axie Infinity has already recorded a 1083% increase in 30 days.
It was created by Riveted Games, a video game development company that has more than 7 years in the Gaming industry.
The SKILL token is used as a currency to exchange for rewards on the platform. It allows players to buy weapons and levels in the game.
The principle of the CryptoBlades platform is simple. The more weapons you have, the better you can defeat the enemies. And therefore, earn rewards (SKILL tokens).
SKILL went public at a price of $2.29 on May 9, 2021. Two weeks later, the crypto sector had been hit by the China crackdown and Elon Musk’s reversal-induced crash. Its price plunged towards $1.54. Like other cryptocurrencies, SKILL’s price has had trouble weathering the crisis. The crypto spent more than 45 days between $1-$6.
The crypto had initially taken off when gaming tokens were exploding on the stock market. SKILL’s price has risen from $1.24 on July 9 to $125 dollars at the time of writing this article. CryptoBlades owes its rise to a tweet on the platform’s AMA section on Reddit. After the tweet, SKILL’s price rose 160% in 24 hours.
The developers of the platform are planning to make major updates to the network.
While Wallet Investor is not overly optimistic about the future of crypto, DigitalCoin believes that crypto can make further progress in the stock market in the coming years. WalletInvestor predicts that the price of CryptoBlades will fall to $35 in a year. DigitalCoin’s prediction is for a $179 cryptocurrency in 2022.
However, it should be noted that the crypto’s price has been very volatile in recent days. A forecast based on this data may be inaccurate considering that there was a lot of pressure on the crypto currency just recently. Nevertheless, this does not mean that CryptoBlades does not have the fundamentals to continue to make progress in the market.
Hope you enjoyed this article of The value of this crypto has increased by over 1000% in just 60 days!