Bitcoin Surges 10% To $38,000 And Axie Infinity Up 150% In Week

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Last Updated on 26 July 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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After nine weeks of choppy trading, Bitcoin once again found ground above a crucial technical level this past weekend. In the past 24 hours, BTC surged to a value of $38,000 and has broken several important technical levels, such as the 50-day moving average. Ethereum and other major altcoins showed similar gains.

It came after a week which was marked by falling stock markets over Delta variant fears (Monday) and endorsements from Ark Investment’s Cathie Wood and Tesla CEO Elon Musk (Wednesday). Both of them, together with Twitter CEO Jack Dorsey, showed why they believe Bitcoin is important.

By now, the mood surrounding crypto seems to have turned (at least in the short term) and we are slowly starting to look up rather than down again.

Pankaj Balani, CEO of crypto derivatives exchange Delta Exchange, commented, stating:

For the first time in many weeks we are seeing bullish signs here and expect Bitcoin to head toward the upper end of the $30,000 to $40,000 range. Options activity indicate that $35,000 could act as a ceiling for Bitcoin for July, but after that Bitcoin should face little resistance between $35,000 and $40,000 levels.

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Axie Infinity popularity explodes

Whereas in the past year we’ve seen new side-industries develop in the world of crypto (think DeFi and NFTs), the Vietnamese developer Sky Mavis may just have found a new market altogether. Axie Infinity, a Pokémon-style game which we reported on first some two weeks ago (then trading at $17, now $40), is exploding in popularity.

It now has some 350,000 daily active users. Most players hail from the Philippines, Venezuela and, importantly, the US. Main difference with other online games is that players can earn a cryptocoin with the same name.

YouTube video

As a result, top players are by now earning some $400 per day, and the coin has seen its value explode in recent week. Over the past seven days, Axie Infinity once again doubled in value. It now trades around $40. Don’t say we didn’t warn you (but always do your own research of course).

hello.artmagination.com / Depositphotos.com