Cryptocurrency Analysis #4
Hello everyone, today I'll share my thoughts on several coin trends.
These types of articles are expected to be updated weekly, usually Sunday.
Let's get started!
View of the entire market
Let me talk about my views on the entire market first.
For the overall market, although many currencies rose a lot last week, unfortunately they did not continue to rise this week, but the pressure from last week has also become the support this week. The overall trend in the future still needs to be carefully observed.
AXS Analysis
A few days ago, Axie officially released an announcement on the production reduction plan of the in-game token SLP, and more ways to burn SLP tokens will be released in the future. Axie’s governance token, AXS, has been gaining momentum, but it seems to have stalled in recent days. The future trend depends on whether the economic model of the game itself can return to normal.
The rapid inflation of SLP tokens has always been the most serious problem for Gamefi’s leader Axie, and the news released this time will inevitably lead to a rise in the price of the currency in a short period of time, but whether it can continue to rise in the long run, we need to observe whether the official improves the inflation problem of SLP.
HIVE Analysis
HIVE has had its ups and downs this week, but it is clear that $1 has become a good support. Whether it will fall below $1 is closely related to the broader market. Observation is required.
I personally think that HIVE is not the best time to buy now, because it is still possible to fall below $1, so it is not recommended to buy now, you should wait until it is far away from $1.
The above is for sharing, not investment advice, please be cautious when investing
You can also share your opinion in the comments
Thanks for reading, see you next time.
Posted Using LeoFinance Beta
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