Crypto Currency

Is P2E the most undervalued sector in crypto? The good, the bad and the profits

Since Bitcoin was launched in 2009, the crypto market has seen many significant innovations and evolutions in its narrative. However, there are always two sides to every new invention, and the crypto market isn’t an exception.  With every new utility, feature, or technology, there are optimists who believe it’s the next big thing and doubters


Since Bitcoin was launched in 2009, the crypto market has seen many significant innovations and evolutions in its narrative. However, there are always two sides to every new invention, and the crypto market isn’t an exception. 

With every new utility, feature, or technology, there are optimists who believe it’s the next big thing and doubters and naysayers who don’t believe the hype. This is the tale of the play-to-earn (P2E) ecosystem and the coins at the forefront of the P2E revolution.

P2E: the good, the bad and the profits

P2E games have been criticized for a myriad of reasons. For years, industry veterans and traditional gamers have criticized the idea of “finance and fun,” arguing that games should be played solely for fun and not for financial gain. To make matters worse, early iterations of P2E games suffered economic challenges and subsequently collapsed. This raised questions about the sustainability of P2E games.

Although P2E games were not without challenges at the onset, the structure has grown over the years. The first P2E games increased token issuing as more players joined, which reduced the token’s value and earning potential for players. This can be considered an honest error since the creators were still testing the idea of a P2E game.

Despite the criticisms, P2E games have proven that they have quite the potential to change the gaming industry. These games offer players the opportunity to earn passive income, own in-game assets, and tokenize them as NFTs.

By incorporating financial incentives, P2E games have attracted a different category of players, further contributing to the growth of the gaming and crypto industries. These games support innovation and creativity in the industry, as developers have to up their game to create new genres, mechanics, and features that leverage the potential of blockchain technology.

Unlike traditional financial institutions, P2E games allow players to take full ownership of their digital assets. Players can store, transfer, and sell their assets without restrictions or third-party interference. 

The creators of P2E games have continued to improve on the offers and utilities of their games. With the level of dedication involved in the design of coins like $GFOX, $AXS, $RON, and $SAND, gamers can rest assured that P2E games can only get better.

Top P2E coins on the market today 

$GFOX

The Galaxy Fox ecosystem offers an immersive play-to-earn game where players can earn passive income as rewards. By actively participating in the game, players can accumulate GFOX tokens and in-game assets. Additionally, the merchandise shop in Galaxy Fox’s ecosystem offers products and profits that are donated to the community’s treasury.

Of the coins listed here, analysts have tipped $GFOX as the token with the most potential. Aside from its utilities, the token is still in its presale phase, with the potential to earn early investors 100x their investment when it is launched on a DEX. The coin

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It’s not just bitcoin ETFs. Corporate BTC buying has dried up too

Markets Corporate bitcoin buying has collapsed from $500 million per day to almost negligible ETF outflows have dominated the narrative but corporate bitcoin treasuries have gone quiet too, compounding the demand-side weakness. By Omkar Godbole Updated Jun 11, 2026, 9:25 a.m. Published Jun 11, 2026, 5:16 a.m. 2 min read Make preferred on Share Share

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Corporate bitcoin buying has collapsed from $500 million per day to almost negligible

ETF outflows have dominated the narrative but corporate bitcoin treasuries have gone quiet too, compounding the demand-side weakness.

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Charts, graph. (Adam Smigielski/Unsplash)
Summary

  • Bitcoin’s slide from about $74,000 to below $60,000 has coincided with a sharp pullback in buying from both spot ETFs and corporate digital asset treasuries.
  • While corporate treasury firms remain net bitcoin buyers, their daily purchases have dropped from peaks above $500 million earlier this spring to minimal levels this month, removing a key source of demand.
  • U.S.-listed spot bitcoin ETFs have recorded more than $5.7 billion in net outflows since mid-May.

Bitcoin has lost buyers on two fronts.

The exodus from spot ETFs as a catalyst for the recent bitcoin price swoon is well documented. Less discussed is the equally steep drop in buying by digital asset treasuries, or firms whose core business is accumulating bitcoin as a treasury asset.

“As BTC broke down from the mid-$70Ks toward $60K, net inflows from corporate treasury firms fell sharply, with daily purchases slowing to a fraction of their recent pace,” analysts at Glassnode said in the latest market update.

“While companies remain net buyers overall, the decline in accumulation suggests this cohort is becoming more cautious, removing another source of marginal demand at a time when broader market sentiment remains weak,” they said.

Daily purchases by DAT firms, smoothed using a 7-day moving average. (Glassnode)

The green and red bars show the dollar value of daily net purchases by digital asset firms since June 2025, smoothed using a seven-day moving average.

The DAT demand has pretty much evaporated this month, down significantly from multiple instances of over $500 million in daily accumulation observed through April and May.

That partly explains BTC’s quick slide from $74,000 to under $60,000 last week.

Some analysts believe the sell-off was mainly catalyzed by Strategy, the world’s largest publicly listed BTC holder, disclosing that it sold 32 BTC in the final week of May. The firm, however, returned to the market during last week’s sell-off, snapping up BTC worth around $100 million. But that failed to keep prices from falling below $60,000.

As of writing, bitcoin changed hands at around $62,500.

The U.S.-listed spot ETFs remain another major headwind, continuing to bleed capital and reducing the odds of a sustained price rebound. On Wednesday, the 11 funds posted an outflow of $213.85 million, according to SoSoValue. Total redemptions have exceeded $5.72 billion since the second week of May.

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