As the crypto fraternity is panic selling owing to the crash of January 5th. NFTs sector remained almost invulnerable with a swift recovery. Especially, chief coins of the sector Decentraland and The Sandbox have managed to accumulate gains of 11.88% and 3.45% in the past 24 hours. The emerging sector is hopeful of drastic growth in 2022 with an upsurge in adoption.
According to the reports of The Block, the sector is gradually leading in terms of social activity. Google searches for NFTs have outstripped Ethereum, Coinbase, DeFi, and would soon surpass Bitcoin. Moreover, the crypto fraternity is extremely bullish for the sector as there are hopes of new utilities/use cases to take over the market in 2022.
Especially, Axie Infinity (AXS), Tezos (XTZ), and Theta might take the lead of the NFT season as they are working from roots to achieve new milestones. Further, the valuations of the aforementioned assets are utterly undervalued and these would soon break out to reach the deserving place.
Axie Infinity (AXS) :
AXS price plummets below the crucial bottom of $75 and RSI is at its all-time low. However, the capital inflow toward the play-to-earn token looks imminent in the next couple of days. The token lost its grounds after plummeting below 200 days MA on 5th January. If bears continue to haunt the rally then AXS would even correct the $64 strong support. Once the capital turns towards the token, then it is expected to surge more than 80% to claim previous highs.
Recent News On Axie Infinity:
- The ecosystem is planning to include a new dimension to the game that is Land Gaming Mode with virtual land.
- Reports of Token Terminal have revealed that Axie Infinity was the top Dapps based on cumulative protocol revenue over the past year with $1.3 billion revenue.
Tezos (XTZ) :
Tezos’s (XTZ) price has been trading within the range-bound scale between $4 and $5. RSI indicating buy opportunities. As sellers are currently dominating in the one-day chart, the altcoin would correct up to $3.5 in the current bear cycle. Once bulls return to buy the altcoin, then we can expect a nice surge by 1x reaching a high of $8.
Recent News on Tezos (XTZ):
- Tezos achieved significant milestones in 2021 notably the ecosystem has managed to accomplish 35 million contract calls and over 65 million transactions.
- Dapps on Tezos have been receiving greater interest from users since the start of 2022.
Theta Network (THETA):
Theta price has seen a sharp decline after facing rejection at the $5.13 resistance line. Currently, bears are haunting the rally, hence the asset would further correct up to $3.5 to confirm a healthy bull run. As RSI is hovering at oversold territory, if a large chunk of buyers enters the store in the next couple of weeks then it would rise to hit $9.3.
Recent News on Theta :
- Theta network has collaborated with Jukin Media for blockchain video delivery and NFTs.
Collectively, NFTs adoption would overtake that of Ethereum’s in 2022. With new utilities/use cases the aforementioned tokens AXS, XTZ, and Theta are expected to carry a handful of gains in the upcoming supercycles.
Source: https://coinpedia.org/altcoin/nft-search-surpass-erc-20-token-why-axs-xtz-and-theta-would-be-traders-favorites/