Axis Infinity excites many amidst the devaluation of other cryptos. Recently, the AXS/USD pair has been in the act of attaining milestones while the general market sentiment of the crypto market is bearish.
The currently ranked 31st coin by market cap did not fail to live up to expectations this time as it surged to an all-time high of $81.9. As of the time of writing, the coin already experienced a price correction and is trading at $72.5.
AXS Sees an Influx of Cash
Data from the last 24 hours shows that Axie Infinity saw a 253% increase in trading volume as many traders saw the opportunity of a price rally and took it. Without any doubt, the new ATH is the result of the increase in trading volume.
In contrast, many alts lost or saw a decrease in trading volume. The worst hit of these coins is VGX as it lost almost 100% of its volume in the past 24 hours. Neo also joins the crew as it lost 28%.
Over $507 Million Liquidated
A total of $507 million got liquidated over the last 24 hours: more than $150 million higher than the previous day. Unfortunately, the bulls took most of the hit as 86% of the liquidated positions were long.
The largest liquidation happened on a long position with over $5 million and Bybit. The buyers may continue to lose funds if the bearish does not leave the market.
Bitcoin Loses 2.6%
One of the latest analyses on Coinfomania stated that the Moving Average Convergence Divergence (MACD), on the 1-day chart, is about to intercept. The green line is about to intercept the orange as indicated in the chart above. This interception will signal price retracement.
The price correction has started as BTC trading at $44,800. The King coin underwent a little bearish pressure as it dips by 2.6% against its opening of $46,100.