As the cryptocurrency world continues to evolve, the gaming industry is emerging as a pivotal force, playing a significant role in the bull market. The highly anticipated ‘Web3 Games Summit’ organized by Yield Guild Games (YGG) today marks an important moment for this dynamic industry. Enthusiasts and investors are full of expectations that the summit, which will be held between 18-25 November, will witness very important announcements that can reshape the trajectories of important gaming tokens such as Axie Infinity (AXS), Yield Guild Games (YGG) and Sandbox (SAND). Here are the details…
Critical period for SAND, AXS and YGG
In a move that caught the attention of cryptocurrency enthusiasts, the highly anticipated Yield Guild Games (YGG) Web3 Games Summit will begin tomorrow, November 18. The summit organized by YGG promises to be a very important event for the blockchain gaming industry, which is a major player in the 2021 cryptocurrency bull market. The gaming community and investors are eagerly awaiting the summit, where key figures will speak, including the co-founders of Axie Infinity, Yield Guild Games and Sandbox. The summit, which will be held between 18-25 November, is expected to bring together more than 40 game platforms, ecosystems and game creators.
An increase in positive sentiment was noted among holders of gaming tokens, primarily Axie Infinity (AXS), Yield Guild Games (YGG) and Sandbox (SAND). The data reveals that significant amounts of these tokens have accumulated in wallet addresses of significant size, indicating that the market is expecting announcements and updates during the peak. The upcoming event attracted the attention of whale wallets and large amounts of AXS, YGG and SAND tokens were collected at the best addresses. In particular, the top 20 addresses holding these tokens account for a significant percentage of their supply and have a significant impact on their market value.
Whales are trading heavily
Lookonchain, a crypto intelligence provider, identified whale wallets making strategic moves ahead of the summit. On November 15, a whale withdrew 25,871 AXS tokens from KuCoin, worth approximately $158,000. Similarly, addresses “0x6dd2” and “0xefc2” processed withdrawals totaling 1.11 million YGG tokens and 650,961 YGG tokens respectively on Binance, affecting the reduction of selling pressure and supporting the bullish perspective. On November 16, another whale wallet with address “0x3166” withdrew 1.02 million SAND tokens worth $434,000 from Binance.
These moves indicate that large-scale investors are strategically positioning themselves ahead of the Web3 Games Summit, adding to the optimistic outlook for AXS, YGG and SAND token holders. While representatives from Axie Infinity, Yield Guild Games, and The Sandbox will be speaking at the summit, the real question is: Will Whales try to make a profit or continue to accumulate in response to announcements and updates expected during the event?
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