Axie Infinity And Waves Shoot Higher As BTC Flatlines Below $34K

Axie Infinity and Waves tokens shoot higher as Bitcoin continues struggling to below $34,000, unchanged on the 24-hour chart and marking a 0.56% drop as we can see more in our latest altcoin news today.

The entire crypto market traded flat on July 2 with the approach of the fourth of July holiday weekend in the US. The trading volume coincided with a slight drop in the total crypto market cap by $5 billion to the current value of $1.378 trillion. Despite the struggles faced by the market as a whole, the data shows that there were some bullish developments in Axie Infinity and Waves thanks to the recent developments related to NFT.

Axie Infinity is a blockchain-based trading and battling game that allows the players to collect, raise and trade token-based creatures known as Axie. Since hitting a new lof of $2.85, the price of BTC crashing below $30,000, the price of AXS surged 125% to a high of $6.40.  Waves were also seen as a strong performer as it turned bullish in late June. The charts show that the market conditions for Waves were favorable during the last month of June with the price starting to increase by 34% over a period of few days from $13.31 to a high of $17.75.

Long weekend in the US.

Opportunity to move the market to where people want to be filled.

Given where we are max fkery likely..

Lots of liquidity near.

Im undecided what happens next.. the yellow path would be pretty funny, im waiting on what happens, watching for blood. pic.twitter.com/VbIRiI32xz

— f i l ₿ f i l ₿ (@filbfilb) July 2, 2021

The overall weakness on the altcoin market stemmed from Bitcoin’s price struggling below $33,400 as most traders appeared to have gotten a start to their holiday weekend. The data from Tradingview shows that the BTC price traded in a tight range between $32,650 and $34,000 as the traders awaited for the new major news events or on-chain developments to initiate a huge price move of the top cryptocurrency. The overall mood on the market is one of uncertainty and it can be seen from the charts. The overall crypto market cap stands at $1,373 and BTC’s dominance rate is 45%.

As recently reported, The Bitcoin Mining Council’s findings are looking promising at first glance while the report explained that sustainable energy use increased between the first and second quarter of 2021 with a 15% uplift in the network efficiency measured in PH/MW. It was also revealed that the members reported that 67% of the total usage of green energy used to mine BTC comes from sustainable sources which ensure that the lower environmental impact than the one of the industry in other countries like China concentrates most of the BTC hashrate with a huge portion of miners using electricity generated by coal-fired plants.