Cryptos are diving, but blockchain games aren’t

Cryptocurrencies are falling as investors dump their digital assets. This, and the added pressure of tighter monetary policy is making investors steer away from risky assets like cryptocurrencies. The Luna Foundation Guard, the entity set up by Terraform Labs to maintain TerraUSD’s peg to the dollar, used up roughly $2.9 billion in crypto reserves since May 7 trying to stabilize the token, according to a Bloomberg report. While the digital currencies are facing a bear market, the technology underpinning cryptos is pushing another part of the segment. And now as cryptocurrencies enter bear market, those same dapps continue to drive blockchain usage and keep the outlook for decentralized applications positive, the report noted.