GameFi Token BIGTIME Skyrockets in First Week of Existence

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. Let's take a look at the chart of the day. Game five token big time rallied 250% in just five days. Big time is the native token of the Blockchain powered multiplayer game with the same name, it debuted last Wednesday. And although it surged, some analysts view the rally with skepticism. According to Delphi digital, only 5% of the total supply has been air dropped to players and is being traded in the open market which is likely skewed demand supply dynamics in favor of the bulls price boom could be short lived. In a report, Delphi Digital said in part, quote, the token price could be propped up by limiting the circulating supply for a time, but it will inevitably dump this early into the game's life cycle and the reputational damage is going to be hard to come back from and quote Blockchain sleuth lock also said on X, the tonos are quite dubious. No one is sure about the exact market cap. The fully diluted valuation is ridiculously high at around 1.2 billion dollars. While the market cap is much lower at around $40 million according to the report, long term players now earn as much as 200 to $2000 per day. And there's a strong incentive to cash out. Big time is currently trading around 18 cents according to coin market cap down around 27% in the last 24 hours. That's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind top news stories.