I remember buying AXS at $0.25, and then selling for $2.00. Ouch. Mistakes were made!There are various pieces to the puzzle. First, let’s address the obvious: the entire market has seen a significant bounce from the lows. The screengrab below shows Bitcoin’s performance over the last month, compared to the performance of GALA, shown as a white line.
In all honesty, P2E coins’ recent highs cannot be attributed to beta alone. At the start of this article, we talked about sectors. Let’s zoom in on that for a bit. During the bull market, we have seen the entire market cap enjoying steep gains, but there always were baskets of coins doing better than others.
Well, there is potential for this sector to be a future basket of outperformers. Even though right now things are still immensely correlated, it does not always have to be like that. If you think about it, this sector is less and less speculative than other crypto baskets.
Source: News Formal (newsformal.com)
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