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Here’s why the price of the Axie Infinity rose 24% in a week

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Axie Infinity, a blockchain gaming token, is one of the cryptocurrency assets seeing huge gains as the cryptocurrency market gradually returns to the green after weeks of uncertainty due to the FTX crash. The weekly chart of AXS shows double-digit gains, with the price up 24% in the past seven days.

AXS is the cryptocurrency game. Axie Infinity is essentially a Pokémon-like game that uses public NFTs and AXS currency, both of which can be used as in-game assets or exchanged outside of the Axie Infinity ecosystem.

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Axie Infinity’s original token, AXS, which allows players to buy fantasy creatures called Axies, is up 24% over the course of a week. In addition to the price hike, there has been an increase in trading activity due to traders taking advantage of the recent volatility. AXS, which has a market capitalization of $842 million, has also climbed the ranks of cryptocurrencies and is currently the 50th largest cryptocurrency in the world.

However, the blockchain-based game Axie Infinity recently made a great statement, which is one of the main factors keeping AXS prices higher. According to ARTIC, evangelist of Axie Infinity, “Today, more than 600 dedicated and important community members have been brought together to help build the future of Axie Infinity.”

The current price of Axie Infinity is $8.37, with a 24-hour trading volume of $197 million. Axie Infinity saw an increase of 0.15% in the previous day. Axie is now ranked #50 in the market, with a market capitalization of $842 million.

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It has a total supply of 270,000,000 AXS Coins and a circulating supply of 100,564,114 AXS Coins.

Latest update for Axie Infinity “Axie Core”

Axie Infinity has created some excitement in the cryptocurrency industry due to the project’s strategy update for the future. The Axie Infinity team outlined the idea for the “Axie Core” on Monday.

Axie Infinity’s future roadmap included information about character extensions, spawning, and avatars focused on collectability to strengthen emotional bonds with the company.

As a result of the market’s good reaction to this news, AXS stock jumped from $7 on Sunday to more than $9 on Tuesday.

Axie Core is an eternal Axie experience that is not tied to a specific game; It is the universal and aesthetic Axie experience,” writes Substack. “The goal of the Axie core is to strengthen the emotional bond between you and your interlocutor.”

Decentralization is progressing at Axie Infinity

Another important factor supporting the price of the Axie Infinity Coin is the positive statement of the Axie team. Axie Infinity recently announced the “Axie Contributor Initiative,” which will advance its progressive decentralization strategy with the Axie community through the formation of an “Urban Planning” team, community councils, decentralized community treasury management, and other initiatives.

As a result, AXS’ weekly chart has shown double-digit increases, with its price up 24% in the past seven days.

Therefore, the recent initiative that has increased trading activity and the price of the token may provide the much needed boost to a better new year for the Axie Infinity native token.

A bearish crypto market and a stronger US dollar

The cryptocurrency market has been blinking red since the beginning of the day, weighed down by growing concerns about a rate hike.

In comparison, the global cryptocurrency market capitalization was $840.28 billion, down 1.60% in 24 hours. Bitcoin (BTC) and Ethereum (ETH), the two most valuable cryptocurrencies, are now worth over $16,000 and $1,200, respectively.

Other cryptocurrencies, such as Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL), declined. Therefore, the crypto bear market was seen as one of the main things that prevented the prices of Axie Infinity Coins from rising further.

Moreover, gains in the Axie Infinity coin may be limited by the recovery of the US dollar, which offset some of the previous day’s losses as investors pondered the direction of the Federal Reserve’s policy amid fears that higher interest rates will lead to a recession.

IMPT pre-sale ends soon

IMPT is another coin that has recently seen a price surge and has just reached the $14 million mark, raising hopes that the coin will rise above all expectations in 2023. With only six days left before it officially ends, the IMPT pre-sale has now sparked more Total $16.5 million.

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The IMPT pre-show has been focused on achieving goals since it began in October. Before you hit $2 million in five days and $5 million in two weeks, you made $150,000 in the first 24 hours, $1 million in the next 72 hours, and then $2 million in the next five days.

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IMPT powers the Impact System, a blockchain technology that allows carbon credits to be bought and sold. IMPT is likely to become a new darling cryptocurrency once ESG stops trading. In addition, web users can fund international initiatives for environmental sustainability. All transactions use the IMPT token.

There is a lot of interest in IMPT due to the expansion of the platform’s affiliate networks. And her pre-sale up to this point has been really cool. IMPT has now raised over $14 million after completing two of its three presale phases.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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  • The original code for the crypto signals ecosystem

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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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