$DEGEN has held strong over the weekend despite middle east tensions that affected the main market. Moreover, their user base has increased by over 200% daily as more people are playing the game.
Understanding the valuation of P2E projects heavily relies on how many users are playing the game.
$AXS (Axie Infinity) ATH +$4B
When Axie Infinity first launched they had an average of 10,000 monthly players.
$MANA (Decentraland) ATH +$12B
Today, Decentraland has less than 39 active users yet the project is still at a $500M valuation.
$SAND (Sandbox) ATH +$20B
Today, Sandbox has less than 115 active daily users yet the project is still close to $800M valuation.
Today, $DEGEN has +3700 DAU (Daily active users) and growing rapidly considering it only launched a few days ago.
Current valuation: $2.5M? This is extremely undervalued and our targets should be set very high on this play. I don't usually scream "1 BILLION SOON" but based on statistics, holder growth and overall sentiment, I wouldn't be surprised if it goes there in the long term. @DegenArenaGame
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