A few more insights from the gaming niche:

🎮 Number of games, active users, and the correlation between BTC’s market cap and the gaming niche ⬇️

📉 Four years ago, gaming underperformed relative to BTC during a similar market phase but caught up and outperformed later in the cycle.

💭 Today, the situation is similar, but not identical, because "gaming was different back then."

✅ Exactly, it was different — and worse.

🤔 The definition of undervaluation in crypto is hard to pin down.

However, subjectively speaking, comparing cycles and real utility, then vs. now, leads to some fascinating conclusions:

The number of players when gaming peaked in the last cycle was… several times smaller than it is now, even though the market is still down -70% from ATH 👀.
Four years ago, gaming was overvalued, with a $110B market cap at its peak.
Now, with a $34B market cap and 3x more players, what’s the reality?
🛠️ DYOR