Do I recommend PlayDapp ($PDA )?
#PlayDapp is a gaming and NFT-oriented cryptocurrency, based on the Ethereum blockchain. Recently, the project has suffered severe hacker attacks, with estimated losses around 290 million dollars, prompting the team to migrate the smart contract to strengthen security.
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Key points:
• Security: Recent hacks have compromised trust, leading to the migration of the contract on Ethereum.
• Price: Currently, PDA is trading around $0.0357, well below the all-time high of $4.03 (October 31, 2021).
• Market: With a market cap of about 21.76 million dollars and a circulating supply of about 610 million tokens, the coin holds a modest position in the overall ranking (#1063).
• Sector: PlayDapp is positioned in the GameFi and Metaverse sector, but the recent decline in value and attacks undermine investor confidence.
Is it worth investing?
Pros:
• Project with a clear focus in the blockchain gaming and NFT sector.
• Ongoing development activities with the recent launch of its mainnet to expand the ecosystem .
• Still a decent trading volume, indicating that the coin is not completely abandoned by investors.
Cons:
• Compromised security: recent hacks have undermined investor confidence.
• Extremely volatile price and far from all-time highs.
• High token concentration: 91.13% of the total supply is held by the top 10 wallets, which can cause price manipulation .
Conclusion: PlayDapp could be a very risky investment, especially after the severe hacker attack. If you are interested, you should monitor future developments and assess whether the project will be able to regain market trust.
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