This week proved to be fruitful for most of the crypto market and a lot of altcoins even created records including MATIC, the token of the Polygon network. Along with the rising prices, the investors’ bullishness also rose and MATIC seemed to be enjoying the profits. But this move by certain investors might actually cause MATIC to scale back down its growth.
Top crypto commentator and on-chain analyst Willy Woo says that Bitcoin’s bull market could extend for another year following the recent push in accumulation.
As the use of digital wallets and cryptocurrencies becomes more abundant, new use cases for micropayments will be further explored and developed.
Shiba Inu ($SHIB) continue to dominate the meme currency market as it overtook Dogecoin ($DOGE) to become the ninth-largest cryptocurrency. After making record highs just a couple of days ago posting another ATH of $0.000088, the meme currency saw a major price retrace of nearly 50% as its price dipped to $0.000057. However, the bullish momentum helped the altcoin recover majority of its losses the same day, and it is currently consolidating near $0.000075 mark.
Axie Infinity price skyrocketed to areas above $155 as the AXS reacted to the news that Facebook was rebranding to Meta. A rise above the immediate resistance around $150 could see AXS rise to tag new highs.
The Australian Federal Police (AFP) has confirmed that the Supreme Court of New South Wales has ordered the forfeiture of cryptocurrency belonging to a convicted hacker. “The amount of cryptocurrency forfeited, more than $1.2 million, is the largest Commonwealth forfeiture of cryptocurrency,” the AFP said.
It’s been a bullish day for the crypto market after a broadly optimistic day for Bitcoin and the broader market on Thursday.
The broader crypto space has been recording higher highs since the start of the quarter. Bitcoin seems to have followed its suit, kindling a grand bull season. As its dominance slides sideways, other altcoins are chugging up to claim their new highs.