Crypto

Here’s Why Crypto Prices Might Surge 10% This Week

12/12/2022
Bitcoin Ethereum News

Join Our Telegram channel to stay up to date on breaking news coverage

Over the last 30 days, Axie Infinity has seen massive gains. AXS’s monthly chart shows double-digit gains, and the price has increased by 25% in the last 30 days. The reason for its upward trend, however, could be attributed to a variety of positive factors. Everything from the Axie Infinity team’s remarkable efforts to the progressive decentralization strategy has boosted Axie Infinity prices over the last 30 days.

AXS is a cryptocurrency game where you can play to win. Axie Infinity is a Pokémon-like game that utilizes public blockchain NFTs and the AXS currency, both of which can be used as in-game items or traded with other users outside the Axie Infinity ecosystem.

However, the native token of Axie Infinity, AXS, which enables users to purchase imaginary beings referred to as Axies, rose by 25% in just one month. In the meantime, the increase in trading activity has pushed Axie Infinity Coin to the 51st largest cryptocurrency globally.

Although the gains in AXS appear to be fleeting, it has begun to lose its bullish momentum since the start of the week. The reason could be attributed to the recent selling wave in the cryptocurrency market, which has weakened all major cryptocurrencies, including Axie Infinity.

The current price of Axie Infinity is $7.65, with a 24-hour trading volume of $83 million. In the last 24 hours, Axie Infinity has been down 7.30%. Axie Infinity is now ranked #51, with a live market cap of $768 million. It has a total quantity of 270,000,000 AXS coins and a circulating circulation of 100,564,114 AXS coins.

 

Axie Infinity is Moving Toward Decentralization

As previously stated, Axie Infinity is one of the digital assets that has seen tremendous gains in the last 30 days. However, the Axie team’s progressive efforts were the primary reason for the Axie Infinity coin price to rise. Recently, Axie Infinity revealed its “Axie Contributor Initiative,” which will support the Axie community’s progressive decentralization plan by establishing community councils, a decentralized community treasury governance system, and other projects.

Hence, the significant development that has raised trading activity and the token’s price may provide the native token of Axie Infinity with the much-needed boost it needs for a better new year.

“Axie Core”

Axie Infinity has triggered widespread enthusiasm in the cryptocurrency sector as a result of a revision to the project’s long-term plan. The “Axie Core” concept was presented last week by the Axie Infinity team.

Axie Core serves as the connection between play and collectibility. Axie Core, which also serves as a flywheel between the gaming and collecting sections of our ecosystem, holds all Axie gaming experiences together, according to their blog article on Lunacian. This will enhance the bonds of affection between the players and their allies by creating a stronger, more resilient community and economy.

The following traits of Axie’s NFTs fulfill the concept of Axie Core, including information on breeding, collectible avatar photographs, and character accessories to increase patronage. Thus, the positive market response to this news caused AXS to hit the $9 level last week.

Cryptocurrency Market Sell-Off

Since the beginning of the week, the cryptocurrency market has been flashing red in response to increasing concerns that the Federal Reserve would maintain interest rates high for a long period of time. The two most valuable cryptocurrency currencies, Bitcoin (BTC) and Ethereum (ETH), remained trading around $16,000 and $1,200, respectively.

Other well-known cryptocurrencies, including Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL), ended up on the bearish track. Therefore, the bearish crypto market was seen as one of the key factors that kept the lid on any additional gains in the Axie Infinity.

On the flip side, the bullish US dollar, which was supported by the previously released strong US producer price data, was regarded as another major factor that capped further gains in the Axie Infinity coin.

According to data released on Friday, US producer prices went up more than expected last month. This shows that inflationary pressures are still present and makes it more likely that the Federal Reserve will keep interest rates high for a longer time.

As a result, the broad US dollar gained 0.35 percent versus the yen to reach 137.05. The U.S. dollar index managed a 0.12% rise at 105.18 when measured against a basket of currencies. According to statistics released on Friday, the U.S. producer price index for final demand increased 0.3% from the previous month and 7.4% from a year earlier in November. This was a change for the better from predictions of 0.2% and 7.2% increases, respectively.

Top Coins Featured in the Highlights

With so many cryptocurrencies to choose from, picking one to invest in can be difficult. At some point, many investors consider funding low-cost cryptocurrency projects. These digital currencies, with token values of $5 or less, could be a great addition to most portfolios.

Despite the market’s slowdown, the currencies listed below are excellent additions to our portfolio.

Dash 2 Trade (D2T)

Dash 2 Trade is a trading platform that is intended to make investing in digital assets simpler and safer. Additionally, it offers features specifically designed to assist you in trading as well as tools to help you develop your own trading approach.

Dash 2 Trade (D2T)’s presale has garnered more than $9.6 million since its October 20 debut. However, the extraordinary performance of its presale period could be attributed to its devoted team, cutting-edge technology, and strategic collaborations with some of the world’s largest corporations.

It is also worth mentioning that the project’s objective is to develop a marketplace that is open, effective, safe, and full of analytical features and tools, making it a unique trading platform. D2T is working to revolutionize the market with its cutting-edge solutions. The company has a staff of seasoned experts in blockchain, finance, and technology.

If you want to take advantage of this fantastic chance, take immediate action as time is running out. Many investors are finding investing in cryptocurrencies to be a rewarding option, and Dash 2 Trade (D2T) is making it even more beneficial.

The market for cryptocurrencies is being completely transformed by it thanks to its cutting-edge technology, strong security features, and outstanding features. Many individuals are excited to participate in the D2T presale, which has already surpassed $9.6 million milestone.

Visit D2T Presale

RobotEra (TARO)

TARO is a metaverse cryptocurrency with a unique feature that lets users build custom NFTs using the RobotEra editor. RobotEra has raised more than $460k so far. The Tora Inu pre-sale expires in one day.

Don’t pass up your final opportunity to purchase any $TORA tokens.

Calvaria (RIA)

Calvaria is a brand-new cryptocurrency initiative that uses play-to-earn business models. The project’s goal is to develop a magnificent card game of war based on video games like Magic the Gathering in order to raise awareness of cryptocurrencies. The platform hopes to be successful by making an effort to bridge the gap between the real world and cryptocurrencies.

 

Visit calvaria.io for additional information; the token has raised more than $2.4 million as of this writing.

Visit Calvaria Presale

Tamadoge (TAMA)

Last but not least, TAMA is a unique company that uses the meme-based doge culture and is deeply involved in the excitement. Users may create their own Tamadoge avatars, play with them, breed them based on their preferences, and participate in fighting with them to boost their TAMA cash balance. TAMA already has a substantial fan base among investors and collectors, and its platform is well-positioned to capitalize on the growing market for digital NFTs.

Related:

Dash 2 Trade – High Potential Presale

Dash 2 Trade
  • Active Presale Live Now – dash2trade.com
  • Native Token of Crypto Signals Ecosystem
  • KYC Verified & Audited

Dash 2 Trade


Join Our Telegram channel to stay up to date on breaking news coverage

Source: https://insidebitcoins.com/news/heres-why-crypto-prices-might-surge-10-this-week