Cryptocurrencies Price Prediction: Polygon, Axie Infinity & Bitcoin – American Wrap 11 October

FXStreet Team FXStreet

Three reasons why Polygon's MATIC token is targeting $300

MATIC price is currently approaching the apex of the bull pennant pattern, suggesting an 18,632% advance. The RSI and MACD indicators support this bullish outlook. On-chain metrics suggest that Polygon’s ascension will not face massive hurdles. MATIC price has been in a consolidation phase for nearly four months, giving rise to a gigantic bullish pattern. As Polygon approaches a breakout point, investors can expect the altcoin to shoot into the stratosphere.

Analysts expect Bitcoin to top at $350,000 by 2022

Bitcoin ownership is not as concentrated as reported, despite consistent accumulation by whale addresses. Analysts expect four Bitcoin ETFs to hit the $6.7 trillion US ETF market in less than four weeks. On-chain analysts state that Bitcoin's end-of-year prospects are highly bullish in the ongoing bull run. Comparing the ongoing Bitcoin bull run with the 2017 rally suggests that institutional investments are on the rise. Top institutional players are transferring their Bitcoin holdings off exchanges.

Axie Infinity leads play-to-earn market with 1.8 million users and 150,000% price gains

The restriction on centralized cryptocurrency companies in China is driving investors toward decentralized alternatives in the DeFi industry. AXS's price has increased over 150,000% since its launch. Proponents believe that converting time to money is the most significant trait of Play-to-earn games like Axie Infinity. Axie Infinity has over 1.8 million daily active players worldwide, and AXS's daily transaction volume exceeds $520 million.

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FXStreet Team

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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.

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.