Sector Alpha Week of 2026-07-27
What changedCryptoGaming
Turn Crypto · Gaming · 2026-07-27

Is Gaming turning around after a year behind Bitcoin?

Gaming is ahead of Bitcoin over 13 weeks for the first time in a year, having trailed it by 11% over that period.

10020050020262025202420232022 72271 TRAILING 12-MONTH PROTOCOL REVENUE · 100 AT THE START0100102Dec 21Jun 22Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Dec 2021 · trailing 12-month protocol revenue at 100, against 100 at the start · no comparable year yet · 1 reportingMar 2022 · trailing 12-month protocol revenue at 102, against 100 at the start · no comparable year yet · 1 reportingJun 2022 · trailing 12-month protocol revenue at 99, against 100 at the start · up 200.0% on a year ago · 1 reportingSep 2022 · trailing 12-month protocol revenue at 40, against 100 at the start · down 35.7% on a year ago · 1 reportingDec 2022 · trailing 12-month protocol revenue at 3, against 100 at the start · down 97.3% on a year ago · 1 reportingMar 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 99.5% on a year ago · 1 reportingJun 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 99.6% on a year ago · 1 reportingSep 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 99.3% on a year ago · 1 reportingDec 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 90.4% on a year ago · 1 reportingMar 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · down 37.2% on a year ago · 1 reportingJun 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · down 44.0% on a year ago · 1 reportingSep 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · down 13.2% on a year ago · 1 reportingDec 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · up 8.1% on a year ago · 1 reportingMar 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · down 6.7% on a year ago · 1 reportingJun 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · up 10.1% on a year ago · 1 reportingSep 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · down 3.9% on a year ago · 1 reportingDec 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · down 37.5% on a year ago · 1 reportingMar 2026 · trailing 12-month protocol revenue at 0, against 100 at the start · down 48.8% on a year ago · 1 reportingJun 2026 · trailing 12-month protocol revenue at 0, against 100 at the start · down 49.5% on a year ago · 1 reportingNot reported yet — earnings trail price by a quarter or two0No earnings on file this far back — the price series reaches further than the filings do
10020050020262025202420232022 72271 TRAILING 12-MONTH PROTOCOL REVENUE · 100 AT THE START0100102Jun 22Jun 23Jun 24Jun 25Jun 26Dec 2021 · trailing 12-month protocol revenue at 100, against 100 at the start · no comparable year yet · 1 reportingMar 2022 · trailing 12-month protocol revenue at 102, against 100 at the start · no comparable year yet · 1 reportingJun 2022 · trailing 12-month protocol revenue at 99, against 100 at the start · up 200.0% on a year ago · 1 reportingSep 2022 · trailing 12-month protocol revenue at 40, against 100 at the start · down 35.7% on a year ago · 1 reportingDec 2022 · trailing 12-month protocol revenue at 3, against 100 at the start · down 97.3% on a year ago · 1 reportingMar 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 99.5% on a year ago · 1 reportingJun 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 99.6% on a year ago · 1 reportingSep 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 99.3% on a year ago · 1 reportingDec 2023 · trailing 12-month protocol revenue at 0, against 100 at the start · down 90.4% on a year ago · 1 reportingMar 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · down 37.2% on a year ago · 1 reportingJun 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · down 44.0% on a year ago · 1 reportingSep 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · down 13.2% on a year ago · 1 reportingDec 2024 · trailing 12-month protocol revenue at 0, against 100 at the start · up 8.1% on a year ago · 1 reportingMar 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · down 6.7% on a year ago · 1 reportingJun 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · up 10.1% on a year ago · 1 reportingSep 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · down 3.9% on a year ago · 1 reportingDec 2025 · trailing 12-month protocol revenue at 0, against 100 at the start · down 37.5% on a year ago · 1 reportingMar 2026 · trailing 12-month protocol revenue at 0, against 100 at the start · down 48.8% on a year ago · 1 reportingJun 2026 · trailing 12-month protocol revenue at 0, against 100 at the start · down 49.5% on a year ago · 1 reportingNot reported yet — earnings trail price by a quarter or two0
Gaming, equal-weighted, based at 200 Bitcoin, same base, same start trailing 12-month protocol revenue rising falling
Beating Bitcoin11/25+2 in 4 weeks
Theme vs index · 13w+0.0%equal-weighted
Theme vs index · 52w−11.1%equal-weighted
protocol revenue growth · TTM-49%-35% avg, 4 quarters

The 13-week comparison crossed 1 week ago. The 52-week one is still −11.1%.

Participation stands at 11 of 25, with the median member −3.0% versus Bitcoin over a quarter.

What the protocol revenue do next matters more than the cross: TTM growth is -49% today.

Coins leading the move: Rollbit Coin, GoMining Token and DEAPCOIN, and 1 more. All 4 are listed below with their four-factor scores and how many of the last 26 weeks each spent ahead of Bitcoin.

How broad is the move?

A theme average can be lifted by one large company. These readings separate a move the whole theme is making from one a handful of names are making.

Strength anatomy MixedHow much of the theme is participating, how recently, and whether the movers score well.
Together11 of 25 coins moving
Fresh4 crossed in the last 4 weeks
Down the cap ladder — bar is now, tick is four weeks ago
Large 2/50
Mid 6/9+2
Small 3/110

Participation is spreading downward — the mid and small companies added more this month than the large ones did.

What would change this picture

First crossings fail more often than they hold. A month from now the 13-week lead either survives or it does not.

Coins leading the move

The rule selected these companies this week. Below are the same four scores every company on the site carries, and how many of the last 26 weeks each has been ahead of the index.

CompanyEarnings & growthQualityValuationMarketWeeks ahead of indexScore
Rollbit CoinMOM
rollbit-coin
17/26
GoMining TokenMOM
gmt-token
15/26
DEAPCOINMOM
deapcoin
13/26
NexpaceMOM
nexpace
15/26

Sorted by total score. Scores are computed from published filings and weekly closes on a fixed formula — earnings and growth carry 35%, quality 25%, valuation 20%, market behaviour 20%. They rank the data. They are not a recommendation.

Questions people ask about Gaming

How is "beating Bitcoin" measured here?

A coin is counted when its three-month return beats Bitcoin by 5 percentage points or more. A theme is measured equal-weighted, so one large company cannot carry the average. The rule is the same every week and in every market.

How many coins in Gaming are beating Bitcoin?

11 of 25 as of 2026-07-27, against 9 four weeks ago. The median member is −3.0% versus the index over three months.

What is Gaming protocol revenue doing?

Growth in trailing 12-month protocol revenue for the theme is -49%, averaging -35% across the last four quarters.

Where does this data come from?

Daily closing prices and DefiLlama's protocol revenue series, rebuilt every weekday, and every figure carries its own as-of date. A coin has no earnings per share, so the fees a protocol keeps stand in its place — it is the nearest comparable figure, not the same one. Every number on the theme page traces to its source column.

How this page is served to search and answer engines
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The same answer is available as plain text at https://www.sectoralpha.in/mla/stories/is-gaming-turning-around-after-a-year-behind-bitcoin/llms.txt — one question, one answer, sources named.

Also this week in Crypto

Sector Alpha describes what has happened in published market and filing data and explains the fundamentals behind it. It does not make recommendations, does not suggest buying or selling any security, and is not registered with SEBI as an investment adviser.

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