Axie Infinity (AXS) price reverses course with 50% gain ahead of Origin launch
Data from Cointelegraph Markets Pro and TradingView shows that the price of AXS increased 56.5% over the past ten days, 24-hour trading volume reached $1.9 billion.
Three reasons for the climbing price of AXS are the upcoming launch of Axie Infinity: Origin, the steady increase of active users and AXS stakers, and the rising popularity of the Ronin sidechain, which enables Axie Infinity gameplay.
$2.5 billion BTC move off exchanges, suggesting potential for ‘significant’ price rise
According to data from on-chain analytics firm Glassnode, shared by Bitcoin Archive, in just 2 weeks around 61,000 BTC worth over $2.5 billion were taken off of cryptocurrency trading platforms at a time in which the supply of BTC at these platforms reaches a 3-year low.
The total amount of Bitcoin moving on to exchanges remains low. This shows that investors are ready to hold onto their coins for longer periods, suggesting potential for a “significant” price rise.
MNET rises 56.6% after 24h
After many days fluctuating between $0.0088 and $0.012, MNET, the utility token of the MINE Network ecosystem, recorded a positive signal and rose again.
MNET has gained 56.6% in the last 24 hours to $0.025, the highest level since January 25th. However, with the ATH of $0.199698, many investors still have high expectations for the potential breakthrough of this token.
Fed Chair Powell says crypto needs new regulation citing risks to US financial system
During a panel discussion on digital currencies organized by the Bank for International Settlements (BIS), the chairman of the Federal Reserve, Jerome Powell, says crypto requires new regulation, citing that it presents risks to the U.S. financial system and could destabilize existing financial institutions.
Nexo launches $150 million investment & acquisition fund focused on Web3
Nexo, the leading regulated institution for digital assets, today announced the launch of Nexo Ventures, its in-house Web3-focused investment and acquisition fund.
Nexo Ventures is committed to accelerating the development and adoption of blockchain technology and will invest $150 million in long-term commitments in a wide range of early-stage retail and institutional projects synergetic to Nexo’s core businesses.
Luna Foundation Guard has raised $2.2 billion for Terra stablecoin UST’s BTC reserves
The founder of Terra (LUNA) has recently revealed that the Luna Foundation Guard (LFG) has raised $2.2 billion to create a Bitcoin (BTC) reserve for the protocol’s UST stablecoin.
The reserve is set to increase the stability of UST. As the value of the flagship cryptocurrency is less correlated to Terra’s ecosystem, reserves in it are expected to mitigate the risk of a potential death spiral for UST in stress scenarios.
Bitcoin of America adds Dogecoin to their Bitcoin ATMs
Virtual currency exchange Bitcoin of America has announced their newest additions to their Bitcoin ATM machines (BTMs). Dogecoin is now available at Bitcoin of America ATM locations, allowing customers to buy cryptocurrencies with cash after withdrawing it from a debit card or sell their crypto for cash.
Following the publication of the above information, the price of Dogecoin, has spiked more than 14% over the last 24 hours, and reached an intraday peak of $0.1384.
263.4 billion SHIB worth over $6.3 million burned since October 2021
More than a quarter of a trillion SHIBA INU have been removed from circulation since late October last year, equivalent to more than $6.3 million at the current SHIB/USD exchange rate. More than two billion meme tokens from that amount have been burnt over the past 48 hours.
PUBG publisher Krafton partners with Solana Labs
KRAFTON, Inc., creators of the globally popular PUBG: BATTLEGROUNDS battle royale game, announced the signing of a business agreement with Solana Labs to support the design and marketing of blockchain-based games and services.
Through this agreement, KRAFTON and Solana Labs are poised to build a long-term cooperative relationship for the development and operation of blockchain- and NFT-based games and services, as well as jointly cooperate on investment opportunities.
Acala commits $250 million for Polkadot DeFi investments
Acala (ACA), the first project to win Polkadot parachain auction, announced Wednesday it is launching a $250 million “aUSD Ecosystem Fund” to support startups in Polkadot’s budding DeFi ecosystem.
Acala says the funding will be granted out specifically to teams building use cases for the Acala dollar (aUSD) – a crypto-backed stablecoin that aims to become the backbone of DeFi on Polkadot and Kusama.