Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
GameFi Tokens are left to die after the brutal year 2025. The public sector ended about 75%, eliminating most of the interest of investors. But the beginning of 2026 began to show something different.
Usage data and pricing are quietly emerging in some gaming-focused chains. It’s still early days, but for the first time in months, the numbers suggest that GameFi may be stable – with a few tokens moving first.
GameFi shows signs of early life again – what gives
The first indication comes from the use on the chain.
While examining Dune’s early 2026 analytics dashboard data on EVM chains, one metric stood out: average transactions per active wallet. This measures the depth of activity, not just the number of portfolios. For the last four consecutive days, B3, the base-based game level, has topped all major series in this metric, beating Optimism, Mantle, Flow, and others.
Sponsored
Sponsored
This is important because Real game behavior It seems like repeated actions by the same users.
The base itself reinforces this signal. Beyond B3’s dominance in wallet activity, Base also ranked first in daily transactions over the same period, suggesting that gaming activity is fueling wider use of the network.
A similar pattern appears in Series Six, another game-focused series. In recent days, Si has always appeared in his unique daily speeches.
Breaking down further, DappRadar data shows that many Sei-based games have seen a sharp increase in active wallets within 24 hours.
Context is important here. The price of GameFi drops almost 75% in 2025.
When the first month of 2026 begins, these signals begin to disappear, as highlighted by experts such as Yat Siu, president of Animoca Brands.
This does not mean that GameFi is back in full force. But this indicates that the worst phase of abandonment may be to pass.
When Robbie Young, CEO of Animoca Brands, was asked in an exclusive comment to BeInCrypto what really matters for Jim Fee’s recovery, and what signs investors should focus on other short-term price movements, he said in an exclusive comment to BeInCrypto:
Sponsored
Sponsored
“For the GameFi category in general, I think it should be a strong and attractive code-based product (as always).”
This is focused on price. A small group of established GameFi codes have already started responding.
Axi Infinity (AXS): Escalation of emotions and harmonic structure
Axie Infinity stands out As one of the strongest leaders in the recovery of GameFi. AXS is up about 117% in the last seven days, clearly outperforming most major gaming tokens as January progresses.
A reason for Axi’s progress is an improved feeling, driven by a change in the community’s perception of the project. On January 17, positive sentiment towards AXS rose to 8.31, the highest level seen in more than six months. Positive sentiment tracks the frequency of positive discussion of a token on social channels and on-chain, and spikes of this magnitude typically reflect renewed engagement rather than late speculation.
This shift in attitude aligns with a key catalyst highlighted directly by Robbie Young, who spoke about Axi’s recent strength:
“The catalyst, in this case, was a change in the economic model of AXS, which was very well received by the community, and led to an increase in purchases while activating the community, so it is a movement driven by the base,” he noted.
Although the sentiment reading has calmed down a bit, it is still elevated compared to the last few weeks, keeping the focus on AXS.
From a price perspective, AXS started its rally in early January and is now consolidating after a strong vertical movement. This stop resembles a bull flag structure, where the price receives gains without breaking the trend. As long as the higher low continues to hold, the pattern remains constructive and not exhausted.
The trend support has become tighter. The 20-day Exponential Moving Average (EMA) rises towards the 100-day EMA, which often acts as a filter for medium-term trends. A confirmed positive crossover strengthens the case for a continuation. A clean daily close above $2.20 would indicate a breakout from consolidation and an opening towards $3.11 and even higher.
Sponsored
Sponsored
Invalidation levels are well defined. A continued decline below $1.98 will weaken the bullish structure. A deeper move below $1.63 and eventually the 100 day moving average will invalidate this setup.
Sandbox (SAND): Axie Bellwether’s influence extends to the larger GameFi codes
It started Sandbox It follows Axie Infinity’s approach, reinforcing the idea that GameFi’s bounce spreads to more than one token. SAND is up 27% in the last seven days and about 9% in the last 24 hours, a remarkable move for one of the largest gaming tokens by market capitalization.
This sequence is important. Axi moves first, and Sandbox reacts later, even though SAND is the leader in terms of market capitalization. This is in line with how Robbie Young framed the sector’s dynamism, noting that Axi often sets the tone for the broader movements in GameFi. As he said,
“AXS is a strong index in this category, so when we see movement there, it will probably be good news for the rest of the sector,” he said.
The data on the chain supports the positive outlook. Since January 16, the balance of stock flow in SAND has changed sharply. At the beginning of the month, the balance sheets of the exchange showed a net flow of about 4.36 million sand, indicating active sales. This has now reversed into a net outflow of approximately 2.33 million SAND, meaning that the tokens were withdrawn from exchanges rather than being prepared for sale.
The increase in buying pressure with price strength is a constructive signal, especially for large cap symbols.
From a price structure perspective, the SAND forms a cup and handle pattern, which is another breakout formation. A rounded base developed during December, followed by a strong recovery phase in early January. The price is now consolidated in the handle area. A clean daily close above $0.168 breaks the barrier and opens higher towards $0.190, with a possible extension towards the $0.227 area.
Sponsored
Sponsored
The rejection remains clear. A loss to $0.145 weakens the structure, while a drop below $0.106 will completely invalidate the bullish setup.
Decentraland (MANA): The collection of whales indicates the starting location
Decentraland is the weakest of the weakest in the short term among the symbolsGameFi used but maybe that’s why it attracts so much money. MANA is up about 7% in the last 24 hours and about 15% in the last seven days, falling behind Axie Infinity and The Sandbox in percentage terms.
What stands out is how the Whalers positioned themselves during this relatively poor performance.
Since January 17, wallets that hold MANA’s big sales His collection went from about 1.00 billion tokens to 1.02 billion, adding about 20 million mana, or about $3.2 million, in just a few days. At one point, whale stocks briefly reached 1.03 billion before declining slightly. This decline was not very deep and was followed by a renewed accumulation, which indicated the position in terms of distribution.
Want more icon insights like these? Subscribe to publisher Harsh Notaria’s Crypto newsletter here.
From a price structure perspective, MANA appears to be emerging from an inverse equilibrium pattern on the daily chart. This pattern often represents a transition from a recovery trend to a recovery when it continues. The breakout zone is near $0.159, with strength improving as prices close.
For confirmation, MANA needs a daily close above $0.161. If it continues, upside targets open near $0.177, $0.20, and possibly $0.221, with extended resistance near $0.24 if GameFi’s momentum expands.
A drop below $0.152 will weaken the breakout, while a move below $0.137 will invalidate the entire structure.
MANA may be the last, but the behavior of the whales suggests that it may not stay that way if the narrative of GameFi continues to rebuild.
