Why is Spintop (SPIN) crypto spinning in bullish direction?

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Why is Spintop (SPIN) crypto spinning in bullish direction?

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 Why is Spintop (SPIN) crypto spinning in bullish direction?
Image source: © Cammeraydave | Megapixl

Highlights

  • The Spintop crypto is dubbed as a next-gen blockchain-based gaming hub, which aims to maximise the user experience by utilizing the tools of Web 3.0 to offer a unique experience for gamers, traders, and investors alike.
  • Its ecosystem allows the gaming community to exchange tokens, NFTs.
  • According to CoinMarketCap, the SPIN is trading at US$0.358903 with a volume of US$846,100 over a day.

At the end of November 2021, Spintop crypto (SPIN) created a huge buzz ahead of its initial game offering (IGO). The IGO assured that investors would get tremendous opportunity to invest in NFT-based gaming projects with the respective native tokens as the in-game currency or be used as rewards. The token was officially launched in December, the investors started to invest in great numbers. Since then, the interest is still high.

The Spintop crypto has continued with its December momentum in January and on Wednesday (12 January), it was one of the top gainers with an 18.55% gain.

Also read: Why is Avalanche (AVAX) token showing bullish momentum?

The Spintop crypto is dubbed as a next-gen blockchain-based gaming hub that aims to maximise the user experience by utilizing the tools of Web 3.0 to offer a unique experience for gamers, traders, and investors alike. Its ecosystem allows the gaming community to exchange tokens, NFTs. The SPIN coin plays an important role in the platform's functions and is required to mint NFTs. Users will also get to stake SPIN tokens in the Spindex pools.

Also read: Can SparkPoint (SRK) cryptos' impressive rally woo investors?

Why the rally?

Spintop token has been rallying following its partnership with Defina Finance on Spintop Network’s Gamepedia platform. Defina Finance is yet another play-to-earn anime-styled game, which has features of both Defi and NFT to allow gamers to own their gaming assets.

Another reason for the rally is the announcement of its very own Gamepedia going live on Tuesday. With Gamepedia, the traders, gamers, developers all will be able to make the most of it and will be able to provide a faster and more holistic experience to the gamers.  Besides as a play-to-earn game, it will also allow the users to make the most of it by enjoying the game as well earn money or tokens in the process.

Also read: Will Moonbeam rally on opening day of KuCoin listing?

How is SPIN token faring in the market?

SPIN token is ranked 3340 on CoinMarketCap. According to CoinMarketCap, the SPIN is trading at US$0.358903 with a volume of US$846,100 over a day. Today, the rally stretched up further and extended to 19.55% at the time of drafting with a full market cap of US$359,177,047 and a total supply of 67,002,992 SPIN coins.

Conclusion

With the rise of play-to-earn tokens, projects, such as SPIN, the future looks bright. It’s one of the unique projects where all three parts of the community – the traders, gamers, or users and the developers stand to benefit from it. It is looking more and more promising following the initial buzz it created.

Experts are predicting that the token could see significant gains in the next five years as the play-to-earn industry would expand further this year. They feel it won’t be surprising to see if SPIN tokens end up well over their initially anticipated figures. All in all, the year 2022 could well be the breakthrough year for the project if the rally continues. 

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