3 Reasons Why CryptoBlades $SKILL Token Corrected 70%+ Over 7 Days

CryptoBlades $SKILL token has experienced a price correction after an impressive period of growth. Here’s why.

Truly Volatile

The non-fungible token (NFT) gaming project CryptoBlades has enjoyed an eventful July, with its native $SKILL token rocketing in price before retracing significantly. SKILL is currently priced at $46.69, down 74% from an all-time high of $184.46 on July 24th. 

The 7-day figures aren’t much better, with the token down 70% from $154.87 on July 27th. The recent price fall doesn’t capture the whole story, however. Even at current prices, the token remains 6,831.2%––up from its $0.692354 price tag on July 4th.

What Goes Up…

There is little doubt that the progress of CryptoBlades $SKILL has been truly meteoric. Such parabolic levels of growth cannot be sustained indefinitely. It is in line with expectations then that $SKILL should experience some fall in price as a natural consequence of its unprecedented growth.

CryptoBlades 14-day period (CoinGecko)

On Trend

CryptoBlades is not the only GameFi project to enjoy a period of excellent growth followed by a retrace. While the growth and retrace for CryptoBlades has been more extreme, it follows the market’s general prevailing trend.

Fellow Binance Smart Chain project My DeFi Pet has demonstrated 2,339.0% growth since June 3rd and a retrace of 36% over the past eight days. Axie Infinity’s AXS token on Ethereum started the month at $5.74 before rising to $52. The token has since retraced 26% in the last seven-day period. 

Competition For the Top

CryptoBlades finds itself in a competitive market with several other contenders in the GameFi and play-to-earn sector. With CryptoBlades having exploded in popularity, users may now be seeking the ‘next big thing.’ 

On Binance Smart Chain alone, many projects are waiting in the wings, including GMR GamingBunny ParkMOBOXX World Games, and Faraland.

The CryptoBlades site

Despite the recent fall in price, GameFi tokens are still doing well and look to have a bright future ahead of them. Cryptoblades can definitely still carve out more success.

What is CryptoBlades?

CryptoBlades is a web-based NFT roleplaying game launched on Binance Smart Chain. Like other NFT gaming platforms, CryptoBlades issues its native SKILL tokens to participants as in-game rewards. The game has received backing from significant names like Binance, IGN, and Steam. They are also a recipient of the Binace Most Valuable Builder II program.

Aside from competing to earn SKILL, players can also forge unique weapons and trade them on an open marketplace. Players can also stake their earnings and obtain more SKILL rewards. 

The CryptoBlades team boasts a completely decentralized with over 50 developers and a GitHub open for participation and bug bounty rewards to continually improve.

Where to find CryptoBlades:

Website | Discord | Telegram | Twitter |

Source : bsc.news

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