Axie Infinity and Waves Gains while Bitcoin Remains Below $34K

Axie Infinity and Waves rise above the market’s turmoil to reach new highs, but Bitcoin remains stuck below $34,000.

On the 24-hour chart, Bitcoin (BTC) remains basically stable, down 0.56 percent and trading around $33,200 at the time of writing.

With the approaching Fourth of July vacation weekend in the United States, the entire bitcoin market traded flat on July 2. The low trading activity was accompanied by a $5 billion drop in the total cryptocurrency market capitalization, which now stands at $1.378 trillion.

Players can gather, breed, raise, combat, and trade token-based animals known as Axies in Axie Infinity, a blockchain-based trading and battling game. Since hitting a swing low of $2.85 on June 22 when the price of BTC fell below $29,000, the price of AXS has risen 125 percent to an intraday high of $6.40 on July 2 as demand for Axie’s has increased.

Prior to the latest price spike, VORTECS data from Cointelegraph Markets Pro began to detect a bullish prognosis for AXS on June 29.

The VORTECS Score is an algorithmic assessment of history and present market circumstances produced from a variety of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is exclusive to Cointelegraph.

The VORTECS Score for AXS first registered in the green on June 26 as the price of AXS began to steadily inch higher, eventually reaching a high of 83 on June 29 as the price of AXS began to soar another 45 percent over the next three days, as shown in the chart above.

Based on the historical price activity of the token, the VORTECS Score for AXS has surged to a new high of 86 at the time of writing, indicating that there could yet be more upside ahead for the price of Axie Infinity.

Waves was also selected as a good performer by Cointelegraph Markets Pro after its VORTECS Score became positive in late June.

Market circumstances for WAVES were positive during the final month of June, as seen in the chart above, with its VORTECS Score reaching a high of 83 on June 27, just four hours before its price began to rise by 35% over the next three days, from $13.31 to a high of $17.75.

On July 2, the VORTECS Score for WAVES improved to 83, indicating that the bullish case for WAVES may still be valid.

John Howard

Journalism is my passion. I write about technology, sports and entertainment news articles for years. I start my day reading and end at night writing news articles and reviews.

Notify of
Inline Feedbacks
View all comments