Connect with us

Blockchain

Axie Infinity Unveils Esports Prize Program Amid Talks of a Price Retraction

Axie Infinity (AXS) Registers a Triple-digit Price Rally

Axie Infinity (AXS) Registers a Triple-digit Price RallyAxie Infinity (AXS), the exciting talk of the crypto market, has made quite an incredible run this month. The gaming crypto rallied over 500% since its value on June 16 stood at about $4.72. At the time of writing, AXS’s price stands at $21.50, as bulls remain wary of a price retraction. A Month of

Read More

Published

on

Axie Infinity (AXS), the exciting talk of the crypto market, has made quite an incredible run this month. The gaming crypto rallied over 500% since its value on June 16 stood at about $4.72. At the time of writing, AXS’s price stands at $21.50, as bulls remain wary of a price retraction.

A Month of Unique Movements

AXS continues to outrun ‘cryptocurrencies on the watchlist,’ with numbers reading it is up by approximately 316% in July. Moreover, the crypto displays a strong Relative Strength Index(RSI), seeing its most significant loss since June stands at a mere -11%.

The crypto’s ecosystem, which is based on the game CryptoKitties, recently announced an Esports program. The program involves a grand prize of 5,000 AXS for the winner. This month proves an exciting time for AXS investors.

However, AXS faced a worrying price drop today, sinking from a day high of $27.5 to $21.54. The crypto’s slight price retraction signified it might have stepped into a phase of correction after a mind-blowing rally. AXS’s current price is about 10% from its value during the April-May 261.8% Fibonacci extension, bringing its price to $26.35.

Axie-Infinity-June-July-Month-Price-Chart

Axie Infinity Price Movement Since June 16

(Source: TradingView)

Analysts claim these displays show clear warning signs that the token face a bearish market spell. Nonetheless, AXS might overcome the challenge altogether, moving past its $23 resistance level. Bulls continue to track how the token’s price will move as it continues to display signs of a bear market momentum.

More to Come

Axis Infinity’s announcement of an Esports competition caused quite a stir on the financial market. The ecosystem’s developers, Sky Mavis, also revealed that they plan to involve community tournaments via the program. All events under this program will receive a cumulative amount of 5K AXS tokens.

According to AXS’s program Blogspot, organizers of the events should submit their proposals by July 29. The thrilling Axie Infinity tournaments are expected to start on August 6 and extend to November 30, all this year. The events will most certainly lead to a price rise in AXS. As the token grows in popularity, the demand outweighs supply. The near future has Axie Infinity bulls licking their lips.

Axie Infinity: Tracing the Dip

AXS hit an All-Time High on July 15, seeing its value hit a whopping $29.29. According to crypto statistic tracker Coingecko, the blockchain asset has a market cap of $1.271B with 55M of 270M tokens in circulation.

AXS-June-16-Price-movement

Axie Infinity Price Movement in the Last 24H

(Source: TradingView)

Its price has dropped by as much as 25% since it hit the ATH; analysts claim that investors shouldn’t wait for any other signal to buy. According to analysts from the Trading view, the token’s price movement suggests intense pressure to buy amongst investors. Although the price action on the AXSUSDT charts insinuates a somewhat bearish momentum, a strong support level standing at $19.92 suggests that it is just facing a minor correction.

Related posts:

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://btcmanager.com/axie-infinity-esports-prize-program-price-retraction/

Blockchain

This is one way Binance was ‘ready to assist regulators from around the world’

Binance announced launching a Tax reporting tool API. This new API tool will allow Binance users to track their crypto activities to ensure they are fulfilling the reporting requirements laid out by t

The post This is one way Binance was ‘ready to assist regulators from around the world’ appeared first on AMBCrypto.

Published

on

Binance announced launching a Tax reporting tool API. This new API tool will allow Binance users to track their crypto activities to ensure they are fulfilling the reporting requirements laid out by the regulators. This tool will be made available on the Binance website and application.

CEO of Binance, Changpeng Zhao (CZ) had recently conducted a press conference where he shared the steps taken by the crypto exchange to comply with local regulations. The addition of this new API tool was added to the list of changes Binance was making. CZ on Twitter and stated:

“Binance is ready to assist regulators from around the world and together find the optimal way to set a fair playing field – consumer protection is important to all of us. We want to create a sustainable ecosystem around blockchain technology.”

CZ has assured adopting new regulations to be able to serve their customers. To do so, the exchange applied for “licenses and approvals where there is an existing legal framework for crypto exchanges.” This included regions like the Asia-Pacific, EMEA [Europe, the Middle East, and Africa], and Latin America.

Binance also enhanced its KYC efforts. It recently updated its daily withdrawal limits from 2 BTC to 0.06 BTC [~ $2,000] for accounts that have only passed basic account verification. Meanwhile, the Binance futures was limiting new futures accounts created within the past 30 days to 20x leverage from 19th July and this limit will be extended to accounts opened within the past 60 days, by 27th June.

Even though Binance was trying to be more compliant, there were rumors about the CEO being replaced. However, CZ assured that there were “no immediate plans”.

“There are no immediate plans to replace me as CEO. (Journalists like to mis-quote this). I always humbly invite everyone @binance or outside to raise their hand at this job.”

Where to Invest?

Subscribe to our latest Crypto News and Analysis below :

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://ambcrypto.com/this-is-one-way-binance-was-ready-to-assist-regulators-from-around-the-world

Continue Reading

Blockchain

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

Ethereum flashed increased signs of volatility with adequate buying pressure, Dogecoin displayed a shorting opportunity along with decreased trading volume. Lastly, Ethereum Classic showed decreased b

The post Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28 appeared first on AMBCrypto.

Published

on

Ethereum flashed increased signs of volatility with adequate buying pressure, Dogecoin displayed a shorting opportunity along with decreased trading volume. Lastly, Ethereum Classic showed decreased buying strength at press time. 

Ethereum

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

ETH/USD, TradingView

Ethereum’s price regained traction after the alt plunged briefly on Tuesday; at press time the coin was valued at $2298. It regained 4.3% overnight and rose 28.3% over the last week. Its market capitalization went up by 4.45%. Overall, the coin displayed bullish sentiments, however, it is extremely vital for the bulls to have enough momentum to push through the $2390 to test the $2400 mark. 

Volatility remains a factor for ETH’s prices as indicated by Bollinger Bands.

The buying pressure remained consistent for the last 24 hours, with small dips in buying pressure. Relative Strength Index stood at the 60-mark which painted a bullish picture and adequate buying pressure. 

On 27 July, MACD indicator displayed a bearish signal, however, it was on the decline as prices surged. 

Dogecoin

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

DOGE/USD, TradingView

In the last 24 hour, while other altcoins have risen considerably, DOGE only recorded a 4% gain. On the weekly chart, Dogecoin recorded a substantial 21.6% gain. 

The trading volume of DOGE over the last 24 hours decreased by 116.12%, which validates the dip in buying pressure since yesterday. Relative Strength Index noted a slight uptick at press time indicating that buying pressure came back into the market. 

The technical outlook flashed a shorting opportunity for DOGE, as Squeeze Momentum Indicator indicated that the market was about to enter a squeeze with an expected price breakout. 

Green signal bars on Awesome Oscillator flashed the built-up of bullish signal and if the bulls recuperate and push the prices further up, then the coin would experience resistance at $0.21. At the time of writing, Dogecoin was priced at $0.20. 

Ethereum Classic

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

ETC/USD, TradingView

Ethereum Classic was trading in the red at press time; however, it accounted for a minor 3.0% daily gain. 

The weakening of the current market trend of ETC was seen on Average Directional Index, which hinted at the possibility of prices dipping. With a further dip in prices, ETC would hover near the $46 support level or even fall through it. 

Buying pressure also dipped as Relative Strength Index noted a downtick at press time. Trading volume also fell by 19.20% signifying a decreased buying strength in the market. Chaikin Money Flow also recorded some fall in capital inflows at the time of writing.

Where to Invest?

Subscribe to our latest Crypto News and Analysis below :

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://ambcrypto.com/ethereum-dogecoin-and-ethereum-classic-price-analysis-july-28

Continue Reading

AI

Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

Published

on

During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion.

ETH Beats BTC for The First Time

Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked an increase of 489%, and its trading volume hit $2.1 trillion.

The Coinbase report noted:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

The research also revealed the total market capitalization numbers for the first half of 2021. At the beginning of the year, the market started at $769 billion and surged to $2.4 trillion in May. Subsequently, it declined to $1.4 trillion by the end of the period.

The largest chunk of Bitcoin’s profits came during the first months of 2021 until April, when its price escalated towards an ATH. On the contrary, Ether saw the most of its earnings in May 2021, when it was worth more than $4,000.


ADVERTISEMENT

Can ETH Become The Largest Cryptocurrency?

The debate whether Ether can surpass Bitcoin and become the leading digital asset has been a hot topic in the last few years.

At the beginning of May, the billionaire owner of the Dallas Mavericks – Mark Cuban – joined the argument and gave his three reasons why ETH will eventually outperform BTC: Ethereum’s network is capable of processing more transactions per second, and it is the platform where “the future of finance” is built. It also boasts a higher utilization compared to Bitcoin.

The prominent investor Mike Novogratz also gave his two cents on the matter. The renowned crypto bull hinted that such a scenario where Ether surpasses Bitcoin is possible as the network behind the second-largest cryptocurrency is rapidly expanding. However, he outlined the characteristics of the two digital assets expecting BTC to be the digital version of gold while ETH will have different purposes:

“I think Ethereum may even become the biggest cryptocurrency one day but it will have a very different use case than BTC.”

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet/?utm_source=rss&utm_medium=rss&utm_campaign=analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet

Continue Reading

AI

Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

Published

on

During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion.

ETH Beats BTC for The First Time

Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked an increase of 489%, and its trading volume hit $2.1 trillion.

The Coinbase report noted:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

The research also revealed the total market capitalization numbers for the first half of 2021. At the beginning of the year, the market started at $769 billion and surged to $2.4 trillion in May. Subsequently, it declined to $1.4 trillion by the end of the period.

The largest chunk of Bitcoin’s profits came during the first months of 2021 until April, when its price escalated towards an ATH. On the contrary, Ether saw the most of its earnings in May 2021, when it was worth more than $4,000.


ADVERTISEMENT

Can ETH Become The Largest Cryptocurrency?

The debate whether Ether can surpass Bitcoin and become the leading digital asset has been a hot topic in the last few years.

At the beginning of May, the billionaire owner of the Dallas Mavericks – Mark Cuban – joined the argument and gave his three reasons why ETH will eventually outperform BTC: Ethereum’s network is capable of processing more transactions per second, and it is the platform where “the future of finance” is built. It also boasts a higher utilization compared to Bitcoin.

The prominent investor Mike Novogratz also gave his two cents on the matter. The renowned crypto bull hinted that such a scenario where Ether surpasses Bitcoin is possible as the network behind the second-largest cryptocurrency is rapidly expanding. However, he outlined the characteristics of the two digital assets expecting BTC to be the digital version of gold while ETH will have different purposes:

“I think Ethereum may even become the biggest cryptocurrency one day but it will have a very different use case than BTC.”

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet/?utm_source=rss&utm_medium=rss&utm_campaign=analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet

Continue Reading
Esports1 hour ago

Akshan buffed again in today’s League 11.15 micropatch due to ‘very low win rate’

Esports1 hour ago

Legends of Runeterra Announces 10th Region, 2021 Roadmap

Esports1 hour ago

How Many People Can Play Tribes of Midgard Together?

Energy1 hour ago

Oceaneering Reports Second Quarter 2021 Results

Blockchain1 hour ago

This is one way Binance was ‘ready to assist regulators from around the world’

Esports1 hour ago

Where to Plant Wiretaps in Fortnite

Energy1 hour ago

YES EcoCoat™ HVM aide un client à remplir un important contrat NIH pour des dispositifs de test rapide des anticorps COVID

Energy1 hour ago

Azure Power Files Fiscal Year 2021 Annual Report on Form 20-F

Energy1 hour ago

Covanta Holding Corporation Reports Second Quarter 2021 Results

Energy1 hour ago

Agnico Eagle Reports Second Quarter 2021 Results – Strong Operating Results With Record Safety Performance; Reintegration of Nunavummiut Workforce Underway at Meliadine and Meadowbank; Underground Development and Surface Construction Proceeding as Planned at Odyssey

Esports1 hour ago

TFT 11.15 B-Patch Changes Revealed

Esports1 hour ago

Is G2A a safe and legit site for game codes? Answered

Aviation1 hour ago

Allegiant reports a profit in the second quarter

Esports1 hour ago

PS5 Sells 10 Million Consoles

Esports1 hour ago

Fan Made Fortnite Skin Concept Gets a Response From Lil Nas X

Esports1 hour ago

Apex Legends fans get first in-game look at Rampage LMG in new video

Esports1 hour ago

Xbox Series X|S Fastest Selling Consoles in Microsoft History

Esports1 hour ago

New World Faction Armor Sets

Esports2 hours ago

Warzone Leak Hints Gunships to Play a Major Role in Vanguard Reveal Event

Esports2 hours ago

Apex Legends Developer Says Seer’s Tactical Ability Requires Major Precision

AR/VR2 hours ago

Surgical Science to acquire 3D Systems’ Simbionix business to strengthen its VR medical simulation offering

AR/VR2 hours ago

Surgical Science to acquire 3D Systems’ Simbionix business to strengthen its VR medical simulation offering

Start Ups2 hours ago

Telehealth giant Amwell to acquire Portland healthtech startup Conversa

Crunchbase2 hours ago

Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger

Crunchbase2 hours ago

Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger

Esports2 hours ago

Katheryne Genshin Impact: Who is She?

Esports2 hours ago

Yanfei Genshin Impact: Everything You Need to Know

Energy2 hours ago

Weatherford Announces Second-Quarter 2021 Results

AR/VR2 hours ago

10 Million PlayStation 5 Consoles Sold Globally Sony Confirms

AR/VR2 hours ago

10 Million PlayStation 5 Consoles Sold Globally Sony Confirms

Trending