Yesterday, FET hit a main support level between $3.2 and $2.8, experiencing a bounce and gaining some momentum. The market structure for FET has shifted up a level after a bullish breakout above $3.2 and $2.8. I expect FET to consolidate in the current level and break out above $3.4-$3.5, with a potential continuation up to $4. However, FET's recent momentum has decreased, and it's unlikely to break out with momentum at the moment. I'm bullish on AI in crypto and expect a potential merge between FET AI and Ocean to be a positive development.
Two scenarios could lead to a bullish breakout:
1) Bitcoin becomes very bullish and breaks above $71,220.
2) The AI narrative starts to gain traction again, and FET benefits from its connection to AI.
Currently, I'm waiting for open interest to form a bottom and start showing bullish moves. If Bitcoin starts crashing, a bearish breakout and drop back to the previous consolidation is a possibility

🪷
$FET #Trading #PricePrediction $BTC #AI $AI

After a dramatic 25% volume drop, is Ethereum Classic on the decline? Dive into ETC's history, recent trends, and future potential.

Key Points

Ethereum Classic (ETC) emerged after a 2016 DAO event which saw a major division in the Ethereum community.

ETC's trading volume dropped significantly by 25% from August 10th to 11th, prompting concerns about its future.

Despite the setback, Ethereum Classic has shown past resilience, and its future remains uncertain but potentially hopeful if it holds above the $16.00 price point.

Cryptocurrencies, market movements can be drastic and rapid. Recently, Ethereum Classic experienced a startling 25% volume drop, leading many to question, is Ethereum Classic dead?

What Is Ethereum Classic (ETC)?

Ethereum Classic's inception can be seen from a division in ideologies and technical perspectives among the Ethereum community members. Essentially, Ethereum Classic materialized as a result of the foundational principles of the initial Ethereum concept. This split was catalyzed by an event in 2016 involving the DAO—a decentralized autonomous organization. Debuting on the Ethereum network, the DAO proved to be a hopeful project supported by a substantial $150 million obtained through crowdfunding. However, owing to a flaw in its programming, unauthorized individuals successfully diverted $50 million. The community was at odds regarding how to address this setback: while a majority supported reversing the ETH blockchain to reimburse affected users, a steadfast minority firmly believed in the immutability of blockchains. A vote ensued, with over 85% in favor of the fork. While the ETH blockchain underwent alterations, the unaltered version persisted, leading to the birth of Ethereum Classic (ETC).

Ethereum Classic (ETC) Price Analysis

From August 8th to 11th, the market cap of Ethereum Classic witnessed minor fluctuations. The volume, however, saw a significant drop of 25%, leaving many investors scratching their heads.

From August 8th to 11th, Ethereum Classic displayed minor market cap changes, witnessed a 25% volume drop, and showed varied price dynamics compared to major cryptocurrencies.

Historical Data Overview of Ethereum Classic (ETC)

Market Cap from August 8th to 11th:

Over a span of just four days, Ethereum Classic's market cap showcased subtle fluctuations, hinting at the dynamic nature of the cryptocurrency market:

August 8th: Ethereum Classic boasted a market cap of $2,512,824,289.

August 9th: This figure saw a minor increment, reaching $2,556,789,674.

August 10th: A slight decline was observed, with the market cap dipping to $2,542,758,866.

August 11th: The cap further descended to stand at $2,521,165,845.

Volume Fluctuations with a Specific Highlight on the 25% Drop:

Trading volumes are an essential indicator of an asset's liquidity and investor interest. For Ethereum Classic, the period from August 8th to 11th was particularly eventful:

August 8th: Volume registered was $91,118,498.

August 9th: There was an increase in trading activity, with the volume reaching $95,690,508.

August 10th: A slight decline, settling at $78,641,828.

August 11th: A significant drop of 25% was observed, plummeting the volume to $65,136,202.

This 25% drop in volume is indicative of reduced trading activity and can be a signal for investors to tread cautiously.

Open and Close Price Movements:

Price dynamics provide insights into market sentiment:

August 8th: The day began at $17.67 and concluded at a slightly elevated $17.95.

August 9th: Opening at $17.95, the closing price saw a minor dip to $17.85.

August 10th: The day commenced at $17.85 and culminated at $17.71.

August 11th: It opened at $17.71. 

Comparison with Other Cryptocurrencies:

Historically, Ethereum Classic's price movements have been less volatile compared to smaller altcoins but show more fluctuations when juxtaposed against giants like Bitcoin or its sibling, Ethereum. This period was no exception, with ETC showing more sensitivity to market dynamics than its more prominent counterparts.

Ethereum Classic Price Drop Today

ETC started the day at an opening price of $17.71. When you juxtapose this with the market cap of $2,521,165,845 and a trading volume of $65,136,202, there's a conspicuous piece of information that catches one's eye – a significant reduction in volume. This decline represents a 25% drop from the previous day’s volume of $78,641,828, which is a substantial contraction in a 24-hour span.

Has Ethereum Classic Finally Died?

The term "dead cat bounce" in finance often refers to a brief recovery in the price of a declining asset, followed by a continuation of the downward trend. Could Ethereum Classic be experiencing such a phenomenon? The crucial question: does the recent 25% volume drop in Ethereum Classic signify a fleeting recovery, or is it indicative of a deeper, more persistent issue?

While the recent drop is concerning, it's crucial to dive into the potential reasons behind this trend:

Market Sentiment: Are external factors, including broader market sentiment or global economic influences, affecting Ethereum Classic?

ETC's Ecosystem: Are there challenges within the Ethereum Classic ecosystem that might be causing this trend?

However, it's worth noting that Ethereum Classic still shows signs of resilience. As long as the price remains above the $16.00 level, a positive rebound is plausible.

Ethereum Classic's Resilience and Potential for Bounce-Back:

Despite the recent setbacks, Ethereum Classic boasts a history of resilience:

Historical Performance: Ethereum Classic has weathered several storms since its inception in 2016, demonstrating a capacity for recovery even when the odds seemed unfavorable.

Community and Developer Support: The unwavering commitment of its community and the dedication of platforms like CoinRabbit, NFT List, MoonLama, and NFTCreed ensures continuous developmental efforts and community engagement.

Technical Indicators: While the recent dip has raised eyebrows, it's noteworthy that as long as ETC maintains a position above the $16.00 level, it showcases a positive outlook. This critical support level is often regarded as a psychological benchmark by traders, and sustaining above it can serve as a base for potential upward momentum.

Bottom Line

Is Ethereum Classic dead? A significant volume reduction over a short time might raise eyebrows, but factors like market sentiment, global economic conditions, and inherent challenges within a cryptocurrency's ecosystem can all play roles in such trends. While some may question Ethereum Classic's viability, its storied past and inherent resilience should not be overlooked. The road ahead for ETC remains uncertain, but it's far too early to declare its demise. Investors and enthusiasts alike should remain vigilant, informed, and consider a holistic view before jumping to conclusions.

#PricePrediction #crypto2023

ThorChain (RUNE) has surged by 15% in the last 24 hours. What should we expect next: more gains? Learn more.

Key Points:

$RUNE has returned 15% in 24 hours and over 65% in the last two weeks. 

The bullish sentiment appears to be driven by the imminent launch of a new lending and burning feature on THORChain. 

$RUNE price predictions are bullish across most time frames. 

THORChain ($RUNE ) has rallied by over 15% in the last 24 hours as a new lending feature with a burn mechanism is expected to launch very soon. The project is a decentralised liquidity protocol that acts as an intermediary between users who want to exchange layer-1 crypto, such as $BTC and $ETH and offers various yield farming opportunities. The token is rallying hard, but is it the start of a long-term bullish trend? This post will tell you everything you need to know about RUNE and cover the leading THORChain price predictions. 

What Is THORChain (RUNE)?

$RUNE is the native cryptocurrency of the layer-1 THORChain blockchain. The project was built on the Cosmos SDK and runs a permissionless DEX that uses an asset vault to hold and exchange layer-1 cryptocurrencies. The project allows users to earn yield for providing liquidity, trade assets, and earn rewards by operating nodes. 

The network allows people to swap layer-1 cryptos without registering or submitting KYC. Furthermore, users also don’t need to worry about wrapping their assets before completing trades which saves people the hassle of exchanging $ETH for $WETH or $BTC for $WBTC. 

$RUNE is used to pay for transactions, governance and as a reward token on the network. The token has a market capitalisation of $470 million and, following the recent rally, trades at $1.56, which is still over 90% below its all-time high. $RUNE has a maximum supply of 500 million, with 300 million already in circulation and in the last week, it has surged by over 60%. 

RUNE tokens are expected to undergo systematic burns as part of a new lending protocol.

THORChain Brief Price History 

$RUNE launched in 2019 and traded below $0.01 for the best of its first year on the market. In late 2020 $RUNE began to rally, and in early 2021, it hit $5. The bull market dragged $RUNE higher, hitting its all-time high of $20.87 in May 2021. 

In 2022 the bear market hit $RUNE hard, slashing its market capitalisation from over $4 billion to $400 million. In June 2023, it hit a multi-month low of $0.8, but July saw a decent rally followed by a massive surge in the past week. The price of $RUNE has nearly doubled from its June low, and it's not trading comfortably above $1.5. The main reason for the recent surge appears to be news surrounding a new lending feature that includes a burn mechanism. 

$RUNE has returned over 15% in 24 hours, and it’s been in a bullish trend for the past month. Source: Binance

Lending, Borrowing and Burning $Rune

The release of a new lending feature on the THORChain is moving $RUNE ’s price. According to a Tweet from the project’s official Twitter page, the lending feature will include a burn mechanism that burns all $RUNE derived from asset slip fees. According to the Tweet, this burn mechanism will result in $RUNE becoming a deflationary crypto which could lead to a sufficient supply reduction in the token’s circulation to create positive price growth. 

They also added that further burn features will be added at an undisclosed date. Furthermore, the team claims the lending protocol will allow users to earn a yield on layer-1 cryptos such as $ETH and $BTC and to take out loans without KYC or the danger of liquidation.

THORChain Twitter details how the lending system will turn $RUNE deflationary. Source: Twitter

THORChain (RUNE) Price Predictions 

The THORChain lending protocol and burn mechanism have created plenty of hype and FOMO. The leading RUNE price predictions suggest that the recent trend will give way to more consistent but less volatile gains. 

Cryptonewsz has forecast a maximum 2023 price target of $2.41 for $RUNE , suggesting considerable upside potential. Their minimum price target for 2024 is over $2, and towards the end of the decade, they see it potentially reaching double figures. 

Insidebitcoins points out that $RUNE has experienced a 60% surge in the past couple of weeks which could signal an incoming pullback. If the pullback doesn’t drag the price below $1.4, they believe it could break above $2 in the short term. 

Cryptonews hasn’t issued specific price targets for $RUNE , but they conducted extensive technical analysis. According to them, almost all major indicators suggest further upside potential, and they noted that the total value locked on the network has been experiencing healthy growth in recent months. 

Is THORChain Rune a Good Investment?

THORChain is a crypto lending and borrowing project with a twist. It uses over-collateralised liquidity pools to try and mitigate the liquidations issues that often plague DeFi protocols. The upcoming changes to its lending system are expected to create a market-leading platform that offers secure loans with no KYC requirements. In addition, the $RUNE burn mechanism has spurred bullish sentiment as a combination of more demand for $RUNE by borrowers and lenders and a reduced supply has resulted in hopes for considerable upside. 

#crypto2023 #PricePrediction

Is Internet Computer (ICP) a good investment and is a resurgence possible? Let's find out -

Key Points:

ICP aims to redefine the internet through its blockchain technology, yet it has faced tumultuous price fluctuations since its 2021 launch.

Beyond just a cryptocurrency, ICP plays a key role in data hosting and decentralized decision-making within the Internet Computer's ecosystem.

Recent trends show a 40% surge in ICP's trading volume, though its future price predictions vary, with estimates for 2030 ranging from optimistic to conservative.

The decentralized world of blockchain and cryptocurrency never ceases to amaze. Enter the Internet Computer (ICP), with its monumental intention to revolutionize the internet. However, with great ambition comes a fair share of turbulence. The ICP has seen its highs and lows, marking a tumultuous journey in both price and reputation.

What Is ICP Token?

Dfinity and the Evolution of the Internet: Dfinity's Internet Computer represents a pioneering stride in blockchain technology. It doesn't merely aim to connect users; it aspires to enhance the foundational functionalities of the public internet. By fostering the creation of secure, autonomous, and tamper-proof canisters (an advanced form of smart contracts), the Internet Computer offers a new paradigm of online interaction.

ICP is not just another cryptocurrency token; it's the lifeblood of the Internet Computer. As its native utility token, the ICP is instrumental in rewarding those who host data. Moreover, it plays a pivotal role in decision-making processes on the blockchain, ensuring that critical resolutions are appropriately incentivized. Beyond this, to actively participate in the decentralized governance system, known as the Network Nervous System (NNS), users stake ICP tokens, thereby creating neurons that interact with the NNS. This system underscores the democratization of decision-making on the platform.

ICP Price History

Few tokens have witnessed such extreme price fluctuations as ICP. Launched in May 2021, it soared to a staggering $750 initially. However, in a swift turn of events, the price plummeted to a mere $75 within a month. Further complicating matters was the Arkham report controversy, resulting in lawsuits and negative price implications. The year 2021 didn’t end on a high note for ICP, with the price hitting its all-time low in December.

ICP Volume Surges 40%

In recent developments, Internet Computer (ICP) has showcased a 40% surge in trading volume, a metric that's far from trivial in the cryptocurrency landscape. This uptrend isn't solely a numerical phenomenon. Delving deeper into the underpinnings of this surge reveals a series of influential factors and events that served as catalysts for this growth.

ICP Price Analysis

A closer examination of the market's pulse shows that ICP witnessed a rapid price increment, leaping from $4.030 to an almost immediate high of $4.110. Such abrupt price movements, especially in a short timeframe, often signify more profound shifts within the market. This leap, understandably, was perceived as a bullish omen, thereby stimulating intensified trading activities and piquing the interest of both seasoned traders and novice investors alike.

Further reinforcing this bullish sentiment was the fact that prior to this rapid ascent, ICP had been gradually but steadily inching towards the $4.110 mark. This consistent growth not only buttressed investor confidence but also painted a positive picture of the market's sentiment regarding ICP.

However, as with all volatile markets, caution is advised. As the ICP valuation hovered close to the pivotal $4.110 mark, certain indicators hinted at a potential trend reversal, which eventually manifested in the price stabilizing around the $4.106 region.

ICP Price Prediction 2023

Diving into the projected price paths for ICP in 2023 reveals some fascinating dynamics. While WalletInvestor maintains a bearish stance on ICP, other analytical platforms present a more optimistic viewpoint. According to the latest data, the bullish consensus estimates the maximum price to reach $5.52, showcasing a noteworthy ascent from its current position. On the flip side, even the more conservative predictions hint at a minimum price of $4.82, with an average market sentiment settling around $5.03. 

Internet Computer (ICP) Price Prediction 2030 

optimistic outlooks and conservative estimates. According to Cryptopolitan's data, the price of ICP might potentially escalate to a peak of $82.06. This projection is grounded in an evaluation of several determinants, such as ICP's current market trajectory, its growing adoption rate, and the ongoing evolutions in the cryptocurrency sector. There's also an anticipated strengthening in ICP's price support level, suggesting a base price of around $69.50. On the whole, the average market price for ICP in 2030 is expected to hover around $71.47.

Is ICP Coin a Good Investment? 

The ICP's narrative is layered with complexities and contrasts. From its ambitious start to challenging tribulations and now, to potentially optimistic horizons. The cryptocurrency market, characterized by its volatility, leaves even the most seasoned analysts second-guessing. As the dust settles, one question remains pertinent: Can ICP rise from the shadows of its past to realize its vision of a decentralized internet? Only time will reveal the chapters yet to be written in the saga of the Internet Computer.

#crypto2023 #PricePrediction

What is the price prediction for Fetch.ai. Is Fetch.ai a good investment? Find out why the token is surging.

Key Points:

Fetch AI combines artificial intelligence with blockchain to reportedly help automate industries.

The price of Fetch AI has shown significant fluctuations, recently surging 10%.

This surge is attributed to recent updates, positive technical indicators, and potential collaborations.

Recently, Fetch AI has garnered attention due to its noticeable price surge. Blending the capabilities of artificial intelligence with the trust and transparency of blockchain, Fetch AI's trajectory is of interest not just to crypto enthusiasts but also to advocates of groundbreaking technological integration. As we see its value on the rise, a pertinent question emerges: What's propelling this ascent for Fetch AI?

What Is Fetch AI Token?

Fetch AI is not just another cryptocurrency; it's a visionary platform with the ambitious goal of reshaping the landscape of modern technology. Fetch AI focuses on connecting artificial intelligence with the use of blockchain technology.

This integration between AI and blockchain aims to create a decentralized and self-learning system. This means a network that can operate without human intervention, learn from data, and make decisions transparently and securely.

The mission to automate various processes across multiple industries

From transportation and logistics to healthcare and finance, Fetch AI seeks to revolutionize how we live and work. 

Fetch AI Token

The Fetch AI token, referred to as FET, is the heart of this ecosystem. It facilitates transactions within the platform and incentivizes activities that contribute to the system's growth and utility. It's a symbol of innovation and forward-thinking, with its foundation being both progressive and promising.

FET allows AI algorithms to interact with blockchain's decentralized ledger, Fetch AI reportedly makes it possible to bring intelligent decision-making into the blockchain space. It's a combination that adds value and functionality far beyond what either technology could achieve alone.

The potential impact of Fetch AI is vast and extends across various sectors:

Automation: Fetch AI can automate complex processes, making businesses more efficient and reducing human error.

Transportation: In transportation, Fetch AI can optimize routes, reduce fuel consumption, and even help with autonomous driving systems.

Healthcare, Finance, and More: The applications of Fetch AI are limitless, with potential benefits in healthcare, finance, and beyond.

Fetch AI Price History

A deep dive into Fetch AI's price journey reveals a fascinating tale of market fluctuations, growth trajectories, and investor sentiment. Since its inception, the Fetch AI token, symbolized as FET, has had its share of volatility inherent in cryptocurrencies. 

Starting from the tail end of July 2023, Fetch AI displayed a bullish trend, with its market cap peaking at a noteworthy $251,824,298 on July 16th. During this period, the token saw its price soar from $0.237274 to an impressive $0.241662, accompanied by a staggering trading volume of $82,893,071. As we approach mid-August, FET has demonstrated a rather mixed behavior; it's been riding waves of highs and lows, reflecting the dynamic and volatile nature of the crypto market.

Past Fluctuations and Factors Influencing its Price

Fetch AI's price has oscillated between the ranges of $0.195127 (August 8th) and $0.241662 (July 16th) within the past month. Several elements come into play in determining these shifts. Trading volumes, for instance, often correlate with price changes. Notably, on July 15th, a trading volume of $82,893,071 was registered, which could have been a significant driver behind the peak price on July 16th.

Fetch AI Surges 10% Today: Latest News

Fetch AI Price Graph

Today, Fetch AI is making waves in the market. With an increase of 9.38% in a mere 24 hours, it’s causing both intrigue and a need for clarity. Below, we address some concerns while providing an in-depth look at the current scenario:

Fetch AI Current Valuation:

At the time of writing, the Fetch AI price is at $0.230951 USD. Given its rapid ascension in a short timeframe, a thorough examination of its recent performance is crucial for a well-informed perspective.

Trading Dynamics

Today’s trading volume for Fetch AI registers at a substantial $48,523,069, suggesting increased trading engagement. Furthermore, with its market capitalization touching $179,935,223 USD, Fetch AI’s growing presence in the cryptocurrency realm is undeniable.

Three Reasons Why Fetch AI Is Pumping:

There are multifaceted reasons that can influence a cryptocurrency's valuation. When it comes to Fetch AI, several factors are at play:

Fetch AI’s Latest Updates: In its endeavor to harness AI's potential, particularly in automation and transportation, Fetch AI has taken commendable steps. A notable update from the company reads: "Our #AI Agent technology has officially added multiple community-created 'Smart Mobility' integrations!". This update emphasizes the inclusion of new integrations tailored for mobility. One such integration is the "Geoapify Car Parking API". This integration, in particular, provides AI Agents the capacity to suggest intelligent parking based on variables like closeness or parking availability. The implications of this tool are far-reaching, notably enhancing AI Agents' utility in parking applications.

Technical Indicators: Crucial technical tools, including the Relative Strength Index (RSI), Moving Weighted Average (MWA), Williams fractal, and the Moving Average Convergence Divergence (MACD), play a pivotal role in discerning price trajectories. Presently, these indicators for Fetch AI seem to indicate a favorable market sentiment.

Anticipated Collaborations and Developments: The buzz within the cryptocurrency community centers around prospective partnerships and technological advancements related to Fetch AI. It's speculated that such prospects have potentially steered the recent bullish momentum of Fetch AI.

Is Fetch.ai Worth Buying?

The recent surge in Fetch AI’s price serves as a testament to the growing interest and faith in the project's potential. As we've observed, the combination of its innovative vision, technical developments, and market indicators suggests a promising future. However, like any investment, it's essential to approach with due diligence and research.

#crypto2023 #PricePrediction

Is Terra Classic dead? What is next for Terra Classic after hitting an all-time low? Learn more.

Key Points:

Terra Classic ($LUNC ) is trading for a fraction of a cent, and its TVL is at an all-time low. 

The possibility of reviving the Terra Classic token and ecosystem now appears nearly impossible. 

$LUNC , formerly $LUNA, lost almost all of its $40 billion market capitalisation in just a couple of days. 

The Terra ecosystem once had over $20 billion Total-Value-Locked (TVL), and its native utility token and stable coin had two of the highest market capitalisation in their respective sectors. The collapse of the Terra ($LUNA) and TerraUSD ($UST) ecosystem in May 2022 saw both tokens lose over 95% of their value in a matter of days, and the Terra project was left in tatters. For the past year, attempts have been made to revive the project, but it appears that the Terra Classic project is dead once and for all. 

About Terra Classic (LUNC)

$LUNA and $UST were the two native tokens of the Terra network that has since been rebranded as Terra Classic. The project was developed by Terra Labs and offered users a decentralised stable coin pegged to the US dollar using a burn and mint mechanism built around $LUNA. The idea was that traders would be able to burn and mint $UST with $LUNA, and in the process, they could earn small profits. 

Terra Labs also offered market-leading interest payments to people who held their $UST on the now-defunct Anchor Protocol. The system worked well for a while, and the project’s founder Do-Kwon became one of the crypto industry’s most respected figures. At its peak, $LUNA was changing hands for $100, and $UST was one of the most trusted decentralised stable coins available. 

In early May, it became clear that the system wasn’t stable. Rumours about Anchor Protocol not holding enough reserves spread, and a bank run occurred. $UST lost its peg, and the algorithm behind the protocol began to issue millions of new $LUNA tokens in an attempt to correct the slippage. 

Around $45 billion of market capitalisation was lost within a week, and millions of dollars held by everyday people on Anchor, $UST and $LUNA were rendered worthless. A legal battle has been raging ever since that alleges foul play on behalf of Do-Kwon and other leading figures at Terra Labs. 

In an attempt to revive the project, the Terra community and developers rebranded the project, created new tokens and added the word ‘classic’ to the original cryptos, resulting in Terra Luna Classic ($LUNC ) and TerraClassicUSD ($USTC ). The revival appears to have failed; the so-called stablecoin $USTC couldn’t be much further from its dollar peg, and $LUNC is trading for just $0.00007. 

$USTC , known before the crash as $UST, is trading for just a single cent. Source: Binance 

Terra Classic (LUNC) Price Analysis 

The $LUNC chart is probably one of the ugliest in crypto. In April 2022, it was trading at over $100 with a $40 billion market capitalisation. The token was firmly in the top 10, and many people expected it to keep growing as money flooded into the Anchor Protocol, which promised 20% APY, and hype-induced speculation about it reaching $1,000 spread on social media. 

However, rumours began to spread in May that the Anchor Protocol was not solvent, and metrics showed that for every four lenders, there was only one person borrowing on Anchor. 

A bank run began, and users started to remove $UST and sell it for $LUNC . The supply-demand balance broke down, and eventually, Anchor could not honour its customer deposits. $LUNC ’s price began to crash as it became clear that the ecosystem that gave the token its value was no longer viable. 

$LUNC ’s market cap dropped from $30 billion in May to just $50 million in June. The token lost 99% of its value, and $UST lost its peg forever. The project flatlined until September, when developers and remaining community members embarked on its revival, which led to $LUNC ’s market cap spiking to $3 billion. 

The September price bump appears to have entirely run out of steam. The price of $LUNC has been steadily declining. Its market capitalisation has been slashed in half since February, and the token’s price is now several zeros below $1 dollar. 

Terra Classic ($LUNC ) has basically lost all of its value since the crash in 2022. Source: Binance

Terra Classic (LUNC) TVL Hits All-Time Low 

The attempt to revive the Terra Classic token and its ecosystem depended on attracting more investors and developers in order to drive up TVL. The objective, which was extremely ambitious to start with, appears to have failed. Data from DeFiLama shows that TVL on Terra Classic has dropped to an all-time low of $2.08 million. Considering that a little over a year ago, the TVL was above $20 billion, its current position is mind-boggling. The long-term chart trend is clear, and it looks like Terra Classic is now completely doomed. 

Terra Classic is almost certainly dead as TVL hits an all-time low and its value heads towards $0. 

Has Terra Classic (LUNC) Finally Died?

No one can predict the future, but the possibility of Terra Classic ($LUNC ) recovering the tens of billion lost in both TVL and market capitalisation is now almost impossible. The data presented by DeFiLama show just how dire the situation is for Terra Classic, and it's hard to imagine a recovery being mounted from here, even if the best developers in the world came to the rescue. 

Conclusion

The collapse of Terra Classic, $USTC and Anchor was one of the black swan events that dragged the crypto industry’s reputation through the mud in 2022. Countless everyday people who were drawn in by the high APY on Anchor or believed that holding $USTC was safer than other stablecoins lost their hard-earned money. With TVL at an all-time low, it appears that Terra Classic is finally dead, but the story doesn’t end here, as the losses incurred by everyday investors are still to be compensated. 

#crypto2023 #PricePrediction

$AXS has been trading in a brutal bearish trend for months, but recovery might be around the corner. 

Key Points:

$AXS is trading at just under $6, which is 96% below its all-time high. 

Axie Infinity attracted millions of P2E players during the 2021 bull market. 

The road to recovery for $AXS will be long, but some price predictions expect to happen in the next 2-3 years. 

Axie Infinity ($AXS ) once boasted millions of daily active players, and its Play to Earn (P2E) rewards were so generous during the bull market that many South East Asian citizens quit their jobs to become full-time players. Axie looked destined to change the gaming industry for good, but the 2022 bear market has hammered the project and its $AXS token. $AXS is trading 96% below its all-time high at around $5; let’s explore whether the price predictions expect AXS to reach $10 in the near future.

What Is Axie Infinity (AXS)?

Axie Infinity ($AXS ) is a native ERC-20 token on Ethereum used for various transactions and P2E rewards within the Axie Infinity game and marketplace. It has a maximum supply of 270 million, and 130 million tokens are in circulation.  Axie Infinity is a turn-based trading card game where players battle with NFT creatures known as Axies. Winning battles are rewarded in $AXS and another token called $SLP, which can be used to breed new Axies. 

Launched in 2020, Axie Infinity grew into by far the most recognised P2E game in the world during the 2021 bull run as millions of players started playing worldwide. The game was particularly popular in South East Asia, where it hit the headlines after people began quitting their full-time jobs to earn a better wage playing Axie. 

Not only did the $AXS token surge to its all-time high as millions of players started battling for the tokens the price of in-game NFTs also surged. Some of the rarest Axie NFTs sold for over $50k, and at one point, even building a half-decent team of Axies would have cost over $1K. 

The game was created by a Vietnam-based company called Sky Mavis, and despite the bear market hammering the value of its tokens and NFTs, the game is constantly being updated with features and partnerships. 

AXS Price History 

$AXS launched in 2020 and traded for around $1-2 for most of the year. In 2021 as the bull market kicked off and more players started looking into P2E gaming, $AXS started to trade higher. The price jumped from $4 in May 2021 to $40 in August and then went on to hit its all-time high of $164 in November 2021. 

At its peak in November $AXS boasted a $10 billion market capitalisation, and it was one of the most profitable tokens of the year. However, it has also suffered one of the biggest crashes of all the major alt-coins during the bear market. 

After hitting its all-time high, $AXS began to crash. By March, its price had dropped below $60, and then another drop took it below $20 in June. An issue that faces P2E became apparent as $AXS dropped. As the value of the reward token decreases, players have less incentive to play and as fewer players come online, the demand for the token drops further, causing a negative price spiral that has pushed $AXS to a six-month low of $4.8 this June. 

Since its June low, $AXS has recovered to just under $6, and its market capitalisation is $780 million, which is less than 10% of what it was in November 2021. AXS has traded relatively flat for the past month posting a 0.5% gain, and it’s up around 4% in the past week. 

$AXS experienced a considerable surge in early 2023 but has since given up most of the gains. Source: Binance

AXS News 

Even though $AXS has seen its price action fall behind the rest of the market this year, there has been plenty of news coming from Sky Mavis that suggests they have no intention of giving up on the project. 

Cyberkongz Collaboration

In late July, Axie Infinity announced a collaboration with the popular Cyberkongz NFT project. They plan to integrate a Cyberkongz blockchain game onto the Ronin side chain, which is built on Ethereum and used by Axie Infinity. The Axie teams hope that by expanding the Ronin chains ecosystem, they can build a larger gaming community around Axie Infinity and drive up the number of active players. 

Epic Era Prize Pool Launch

The Epic Era competition season was launched today, August 11th, with one of the biggest $AXS prize pools up for grabs. Players will compete during the seasons to climb a leaderboard and earn $AXS rewards. Despite the bear market Sky Mavis has been consistently launching Fortnite-style seasons that offer oversized rewards to players who consistently win battles using specific types of Axie NFTs.  

$AXS could reach double figures in the coming years, according to several price prediction sites.

AXS Price Prediction 2023 

AXS has fallen badly from its 2021 highs, but as the game is still live and Sky Mavis regularly updates it with new features and partnerships, there’s plenty of room for AXS to mount a comeback. But what do the AXS price predictions think about the token’s future? 

CoinCodex predicts that $AXS will move above $6 this month and continue to rally in 2023. The long-term AXS price predictions issued by CoinCodex range wildly between yearly lows in the single digits to highs above $40, which suggests they haven't been able to conduct sound technical and fundamental analysis. 

Changelly is hopeful that $AXS will post modest gains in 2023, reaching $7 before the end of December. In the long term, they expect solid growth, nothing spectacular, with an average target of $9.73 in 2024. Changelly expects $AXS to break above $10 in early 2025 and possibly reach $20 in 2027. 

Cryptonewsz expects $AXS to reach $10 in 2024, putting its forecast on the more bullish side. They’ve issued a minimum price target of $12 for 2024 and over $15 for 2026. 

Conclusion

The success of Axie Infinity in 2021 was a watershed moment for P2E gaming. As millions of players logged in and went into battle with their NFTs to earn $AXS , the traditional gaming industry was forced to reckon with the fact that blockchain technology has the potential to disrupt the $300 billion market. $AXS crashed as quickly as it rallied, and it's now trading around 96% below its all-time high, although it's unlikely to reach $10 this year; several price predictions expect the token to hit double figures by 2025. 

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