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Crypto News Week 3 and 4 (Part 2)

$BTC $AXS $SOL $MANA $SAND

Metaverse gains momentum - Axie Infinity grows by 45 per cent

The Metaverse was back in the spotlight last week as the global elite discussed digital transformation in Davos and Apple announced a low-cost mixed reality headset.

In response, Axie Infinity, a token for a Pokémon-like game, surged 45% over the week, while Immutable X rose 19% on news that NFT game Tiny Colony will break away from Solana and instead be based on the Layer 2 blockchain.

Metaverse rivals The Sandbox and Decentraland lagged behind, but also made it into positive territory with smaller percentage gains.

Shiba up 14 per cent after launch of Shibarium

To differentiate itself from rival Dogecoin, Shiba Inu is building a layer 2 dog-themed network that will run on the Ethereum blockchain.

Shibarium, as the network is called, will allow developers to build and launch decentralised applications that offer lower fees and greater scalability.

News of the Shibarium beta sparked a 14 per cent rally for Shiba Inu last week, helping the token overtake Dogecoin in the race to become the best-performing meme token so far in 2023.

Next week:

• The correlation between bitcoin and tech stocks could be put to the test next week when the likes of Microsoft, IBM and Tesla announce earnings.
• Other factors that could influence the market include increasing rumours of an economic downturn and the US reaching the debt ceiling.

However, recent weeks have shown that crypto is strong enough to survive even the most negative headlines.

Crypto News Week 3 and 4 (Part 1)

$BTC $AXS $MANA $CRV

Metaverse rally pushes crypto market to 1 trillion. USD

$AXS leads with over 45% gain

$BTC soars above USD 22,000, a rally in Metaverse tokens has pushed the total market capitalisation of cryptocurrencies back above the USD 1 trillion mark. USD.

$AXS is the top performer with explosive 45% weekly gains driving the market higher on hopes of an end to crypto winter. The optimism is fuelled by the observation that bad headlines seem to have lost their ability to influence prices as crypto assets rise despite one of the largest crypto lenders filing for a long-dreaded bankruptcy and the stock market stagnating due to global economic uncertainty.

The week's biggest gainer $AXS is up 125% year-to-date, while Metaverse favourite Decentraland (MANA) is up 149% over the same period. Close behind is Curve, which is up 100% after gaining more than 30% last week on the back of excitement over the dollar pegging of the Stablecoin project.

This week's highlights.

• Metaverse gains momentum as Axie Infinity surges 45
• Shiba rises 14% after the launch of Shibarium

We took a small speculative 5% position in $AXS that we'll watch closely and intend to sell short term.

Gaming coins are soaring and $AXS legs the trend. Our target is 9 usd.

Although $BTC and $ETH are relatively stable at the moment, the real bear market rages on in the weakest alts.

Last week (7 day performance):

$SOL : -23.46% (new lows)

$AXS: -11.94%

$ZIL : -10.46%

$BAT: -11.08%

$FLOW: -11.72%

This might be only the first signs of a new upcoming downleg, that could send coins like $SOL below 5usd. In alts in a bearmarket, it's almost never too late to sell because there will be no new bullmarket before $ETH and $BTC break to the upside through strong resistancelevels and confirm that move by retesting the previous resistance as support.

That gives us plenty of time to buy back in.

The alt stars of the next bullmarket in crypto will probably be projects we don't know about yet (or that don't exist yet). Nevertheless we have a shoppinglist with $ALGO , $ATOM , $AAVE , $ADA , $MATIC and many others.

That's why we are very happy to be mainly out of the market. We will be able to buy so much more alts with our stableposition once the dust settles.

Wrong move with getting into more stablecoins over the weekend…. Let’s take some more chances, not much to lose anymore anyway 😏 And fingers crossed we get a $Luna airdrop 🤞On $AXS we had 33% profit since our last rebalance, will be adding to it when things go south from here. Now let’s put those profits to good use 🙌