A brief technical and on-chain analysis on Axie Infinity price. Here, FXStreet's analysts evaluate how AXS behaves as it trades above key support.
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FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
Solana steadies at $78 on Wednesday, up over 2% so far this week. Institutional demand shows positive signs with SOL spot Exchange Traded Funds recording a second consecutive day of inflow this week. In addition, strengthening derivatives metrics support further gains ahead.
The broader cryptocurrency market is witnessing an easing of bearish momentum, with Bitcoin holding above $66,000. Altcoins including Ondo and Gram, formerly known as Toncoin, are leading gains over the last 24 hours, driven by new features. Bitcoin holds above $66,000 on Wednesday, following a 2% surge the previous day.
Bitcoin, Ethereum and Ripple remain on the front foot as the broader crypto market extends its gains so far this week. BTC leads gains after closing above key resistance while ETH and XRP near key technical hurdles where a breakout could pave the way for additional gains.
The White House has agreed to a comprehensive ethics provision for the Digital Asset Market Clarity Act, potentially clearing a major obstacle to the crypto regulation bill as lawmakers aim to advance it before the August recess. The agreement follows weeks of negotiations over rules aimed at preventing government officials from having conflicts of interest in the crypto industry.
