Axie Infinity Records an All-Time-High of $155 as Bitcoin Intends to Hit $50,000
The broader cryptocurrency market faced selling pressure on October 4 as the enthusiasm created by Bitcoin’s (BTC) weekend surge over $49,000 was eclipsed by further widespread worries about the global banking system, increasing inflationary pressure, and supply chain problems.In spite of these difficulties, several cryptocurrencies gained ground, and the cryptocurrency gaming and decentralized finance arena remain popular at the time of writing.
According to Coingecko data, the top gainers in the last 24 hours were Axie Infinity (AXS), PowerPool (CVP), and Polkastarter (POLS). Axie Infinity is a blockchain-based combat and collecting game that has been one of the breakout stars of 2021. In addition to a spectacular 5,000 percent rally, the game has also served to expose the general public to the capabilities of play-to-earn games and the revenue possibilities that they offer.
Notably, AXS’s market circumstances have been good for some time. The VORTECSTM Score, which is exclusive to Cointelegraph, is an algorithmic assessment of past and present market circumstances based on a variety of data sources such as market mood, trading volume, recent price changes, and Twitter activity.
As shown in the image ahead, the VORTECSTM Score for AXS started to rise on October 2 and went into the dark green zone on October 3, only one hour before its price surged 51 percent the following day. On Oct. 4, the price rose when a live chat with the project’s creators revealed some new information regarding future upgrades, including the inclusion of Axie scores for each character, which bring additional powers and affects to gameplay.
PowerPool is a decentralized financial protocol that focuses in assisting users in acquiring governance power in Ethereum-based protocols through token pools and community voting. Cointelegraph Markets Pro’s VORTECSTM data started to identify a positive outlook for CVP on September 29, before to the current price increase.
As seen in the chart above, the VORTECSTM Score for CVP entered the green zone on Sept. 29 and reached a high of 74 two days later, approximately two days before its price started to rise by 60% over the following three days. CVP’s price has risen as a result of the project’s listing on the cryptocurrency exchange Binance and inclusion in the Binance Smart Chain.
Polkastarter is a Polkadot ecosystem protocol that provides an easy-to-use launchpad for early-stage blockchain companies to launch token pools and auctions in order to raise money and distribute tokens. Prior to the current price increase, VORTECSTM data from Cointelegraph Markets Pro started to identify a positive prognosis for POLS on Oct. 2.
As seen in the figure above, the VORTECSTM Score for POLS started to rise on Oct. 2 and recorded a peak of 74 approximately 35 hours before rising 23% the following day. The price of POLS has risen after the project released Polkastarter v2 to the community, which includes dashboard upgrades and the option to stake POLS on Ethereum or the Binance Smart Chain.
The total cryptocurrency market value is currently $2.141 trillion, with Bitcoin dominating at 42.8 percent.