Over 25% of on-chain activity in Q3 driven by blockchain gaming, data shows

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Oct 16 2024

Should l Buy GMEE?

Web3 Gaming Growth: In Q3, blockchain gaming accounted for over 26% of on-chain activity with a notable increase in daily active wallets, particularly driven by the Ronin Network and significant growth in Oasys and opBNB.
Investment Decline: Despite high on-chain activity, investments in blockchain gaming plummeted by 90% from the previous quarter, while overall venture capital funding in the crypto sector decreased by 20%, highlighting a shift in focus towards infrastructure projects.

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Technical Analysis for GMEE

Technical Sentiment Analysis for GAMEE (GMEE) As of , GAMEE (GMEE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for GMEE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, GMEE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

GAMEE (GMEE) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0000959	0.000432	0.00067	0.00101	0.00124	0.00158	0.00182
Fibonacci	0.000432	0.000651	0.000787	0.00101	0.00123	0.00136	0.00158

About GMEE

GAMEE builds high-engagement mobile gaming experiences, that have attracted over 100 million users globally, who have played over 10 billion gameplays.The company token $GMEE is a key to Web3 Advertising Network, running across games and products.GAMEE Ecosystem OverviewWatBird & $WAT is a project incubated and launched on GAMEE Ecosystem. A gaming IP and digital experiences, based on Telegram and TON chain, with 6M connected wallets.@GAMEE bot on Telegram - top game publisher on Telegram messaging app, with 200M monthly gameplays served across a portfolio of 50 casual gamesArc8 App – a mobile game with mintable and customizable NFT characters (Beasts), where people play casual mobile games and turn their skill and time into tangible value using blockchain technology.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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