Yield Guild Games (YGG), one of the game projects, fell due to speculation right after the strong rise wave it experienced.
Yield Guild Games, the Play to Earn (P2E) project, experienced a bull run that attracted the attention of the market after prolonged declines. The project attracted attention by introducing the fourth season of the Guild Progress Program (GAP). Yield Guild Games has grown in popularity with strong gains and market appetite.
The bull run of the project was completed as a result of speculation, and then the price of YGG decreased to the level of $ 0.32.
Yield Guild Games (YGG) crashed due to corporate steps
Gaming projects in the crypto industry seem to be inefficient lately. However, many projects manage to attract the attention of investors with short-term bullish scenarios. Yield Guild Games (YGG), one of them, has become the most rising crypto money in recent days with the steps it has taken within the scope of project development.
YGG gained a 443 percent acceleration with the rise it has experienced since 3 August. This rise took YGG to the top last week. Returning from the level of 1 dollar, YGG is currently moving at the level of 0.34 dollars. The reasons behind this decline come to mind.
The reason behind this decline of YGG is the result of speculation. On-chain data review platform Lookonchain wrote about the mobility on the YGG side.
According to Lookonchain’s report, institutional investors DWF Labs transferred their YGGs to Binance. This transfer was worth millions of dollars and was enough to mobilize investors. In another data of Lookonchain, it was seen that Youbi Capital transferred YGG to Binance.
The high selling pressure that came with the corporates carrying YGG to the stock markets and the reflection of this data on the investors was enough to disrupt the rising trend of YGG.
The steps taken by corporate names can turn into speculation in direct proportion to the reaction of the investors, and as a result, price fluctuations can occur.
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