The leading cryptocurrency showed clear signs of recovery on Thursday after Tesla’s chief executive stated that the company “may” accept bitcoin again. At 9:30 am EST, Uniswap led the gains, with an increase of as much as 13%. After Musk’s confidence surged, the global cryptocurrency market value jumped to 1.28 trillion U.S. dollars. An increase of 5.52% from the previous trading day. In the past 24 hours, it was US$80.43 billion, a significant increase of 29.29% year-on-year.
CEO Elon Musk said at the meeting that after conducting due diligence on the amount of renewable energy used to mine Bitcoin, electric car manufacturer Tesla may start accepting Bitcoin as payment again. According to Zebpay Trade Desk, most analysts and traders remain pessimistic about the underlying assets. Some basic analysis will show that trading activity has collapsed, and spot trading volumes have fallen by more than 60%. From the high point in May, he added. “At present, any changes in assets are highly dependent on transaction volume. We have not seen this. The market may rotate around current levels.
Musk’s latest Twitter profile picture is making a buzz, reflecting the image of a cryptocurrency
Musk’s latest Twitter photo caused a sensation. In his latest profile, Musk wore glasses that reflects the symbol of Dogecoin Shiba Inu. This led to a sharp increase in the number of memetic tokens. Technical research on the Giottus Axie Infinity (AXS) cryptocurrency exchange led to Ethereum Cryptocurrency games on the Internet.
AXS is a game token, users can use it to get it in the game. With the recent wave of NFTs, game tokens like AXS have significantly increased their popularity. In the past two months, AXS has recovered 1000%. In November 2020, a record high last week, AXS rose by 29.180%. Last weekend, as the market fell, AXS entered a consolidation phase.
Although Bitcoin rose yesterday, key technical indicators such as Ichimoku and MACD. These are based on moving averages, are still bearish. We expect that the token will retest technical support, coupled with the bear market, may soon return to single digits. However, AXS has strong trading volume and market sentiment. 11.3 USD is a major support level worth considering because if it breaks below, investors have a chance to re-enter the market. On the other hand, the only serious resistance it needs to overcome is its all-time high of $29. Then AXS will enter the pricing model and bring huge sales and unprecedented profits.