Axie Infinity refreshes record high as AXS ascends 131% in just three days

The price of Axie Infinity’s native token AXS more than doubled in just three days of trading amid speculation that it is going to revolutionalize the blockchain-enabled gaming industry forever. The AXS/USD exchange rate reached a record value of $32.69 on Friday, up 31.28% intraday, and circa 131% from its Tuesday low of $14.09. That placed the pair in the list of best-performing digital assets on a year-to-date timeframe; its 2021 gains are now above 5,000%. Axie Infinity’s massive upside moves appeared due to its rising popularity as a play-to-earn…

Bitcoin network node count sets new all-time high

The number of reachable Bitcoin network nodes has crossed the 13,000 mark for the first time. As previously reported by Cointelegraph, the previous all-time high was 11,613 achieved back in January. According to data from Bitcoin network statistics dashboard Bitnodes.io, this milestone was reached back on July 5 when the number of reachable nodes clocked 13,374. As of the time of writing, Bitnodes’ data puts the current network node count at about 12,835, Coin.Dance, another tracking website also has Bitcoin’s (BTC) node count at a new all-time high of 12,825.…

Indian high court seeks ad disclaimers from crypto exchanges

Amid the ongoing regulatory uncertainty to cryptocurrencies in India, a high court in the country’s capital is taking action to regulate advertising by local crypto exchanges. The Delhi High Court has issued notices to local authorities and crypto firms in an effort to enforce guidelines for crypto exchanges advertising on national television, the New Indian Express reported Wednesday. The court is seeking responses from the Securities and Exchange Board of India (SEBI), the Ministry of Information and Broadcasting, as well as major Indian crypto exchanges including CoinDCX and WasirX, and…

Synthetix hits one-month high as SNX rallies 25% ahead of layer 2 exchange launch

Synthetix (SNX) prices reached a one-month high on Monday as traders looked for alternative upside bets against a mixed cryptocurrency market. Bids for SNX/USD achieved an intraday high of $13.76 during the Asia-Pacific trading session, following an approximately 25% price rally that started Sunday. A flurry of technical and fundamental factors contributed to the sudden market demand for Synthetix tokens, including founder Kain Warwick’s update on the project’s much-awaited layer 2 solutions. A new synthetic exchange underway Layer 2 refers to the techniques for scaling blockchains by taking computation and…

New Bitcoin entities near all-time high as analyst heralds ‘positive whale activity’

Bitcoin (BTC) on-chain activity is “dead” but on-chain indicators are overwhelmingly positive right now, says analyst William Clemente. In the latest edition of Anthony Pompliano’s weekly newsletters, Clemente highlighted multiple metrics showing no reason to be bearish about Bitcoin this month. 50,000 new Bitcoin entities every day With BTC price action failing to impress, there is no shortage of bearish outlooks on Bitcoin, with even its best-known price models coming in for criticism. If on-chain data is anything to go by, Clemente argues, the situation is far from bearish. “The…

Bitcoin analyst says ‘supply shock’ underway as BTC withdrawal rate spikes to one-year high

As Bitcoin (BTC) continues trading sideways inside the $30,000–$40,000 range, new data is emerging about the potential for a bullish breakout. Is Bitcoin silently readying for a breakout like in Q4 2020?  Willy Woo, an on-chain analyst, anticipates a potential supply shock in the Bitcoin market, as long-term holders continued raking BTC supply from short-term ones. Woo stated in his Friday newsletter that the process might push more Bitcoin out of circulation. The analyst referred to the ratio of Bitcoin held by strong hands versus weak hands — also known as…

AAVE price hits 3-week high as ‘Aave Pro’ debuts for institutional lending

Aave hovered near its three-week high on Tuesday, helped by the prospects of its foray into the mainstream through the launch of an institutional lending platform. Fundamentals Dubbed as Aave Pro, the platform expects to become a “permissioned liquidity protocol” by offering institutions, corporates, and fintech clients access to decentralized finance (DeFi). That said, it would follow strict regulations while onboarding participants, ensuring that their Ethereum addresses are safe-listed following a thorough know-your-customer process. “We will have different kinds of permissioned markets so that DeFi will be more layered and tailored…

Ether price hits 2-week high as London hard fork momentum builds

Ether’s (ETH) $230 million options expiry on Friday appears to have shifted market sentiment in favor of the bulls, at least momentarily, as investors remain cautiously optimistic about the upcoming London hard fork and the prospect that Bitcoin (BTC) has established a firm bottom.  ETH price update ETH rose more than 6.5% to $2,370 on Sunday, the highest in over two weeks, according to Cointelegraph Markets Pro. Weekend trade volumes remained characteristically low at just over $18 billion. Ether’s price sees renewed upside on Sunday. Source: Cointelegraph Markets Pro At…

Bitcoin Gains Traction, Why BTC Could Target Fresh High Above $35K

Bitcoin price regained strength for a fresh recovery and it broke $33,500 against the US Dollar. BTC is likely to continue higher above $35,000 in the near term. Bitcoin started a fresh increase after the bulls defended the key $30,000 support. The price is now trading nicely above $33,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $33,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is showing positive signs and it…

Bitcoin, dollar plunge while S&P 500 rallies after US inflation hits 3-decade high

Bitcoin (BTC) and the U.S. dollar fell in tandem while the S&P 500 refreshed its record high at open on Friday as the Federal Reserve’s preferred inflation indicator surged to its highest levels in almost three decades. According to data shared by the US Bureau of Economic Analysis, the US Core Personal Consumption Expenditure (PCI) rose 0.5% in May, coming in below the estimation of 0.6%. Nevertheless, the expenditure rose 3.4% year-over-year, the highest level since 1991. The Federal Reserve treats core PCI as its benchmark metric to gauge inflation.…