After breaking above $41,000, bitcoin has maintained its momentum and held above that level. Altcoins, which posted significant gains yesterday, have now stalled. Axie Infinity is among the few exceptions after a massive double-digit increase.
Bitcoin holds $41K
It was only a few days ago that the largest cryptocurrency struggled to stay above $37,000 and dipped below that level on a few occasions. The bulls tried to push it north, resulting in a trade around $38,000 on Friday.
However, this is where the landscape changed. BTC kicked off an impressive rally in the following hours and broke above $40,000 for the first time in weeks.
Furthermore, bitcoin even recovered $41,000 and approached $42,000. As of now, the asset sits just shy of that level, with its market capitalization approaching $800 billion once again.
BTCUSD. Source: TradingView
Alts Stall: AXS soars with double digits
Altcoins soared yesterday with massive double-digit gains from almost all of them. Now, however, most have calmed down.
Ethereum also breaks above $3,000 for the first time in weeks, with even a minor decline since yesterday.
Milder declines come from Binance Coin, Cardano, Solana, Ripple, Polkadot, Terra, Dogecoin, Avalanche, and Shiba Inu.
By contrast, CRO is up another 3%, while Litecoin is up 8% and trading above $125.
Axie Infinity is among the most impressive performers with a 15% increase. Consequently, AXS is trading well above $60. Gala (20%) and Theta Fuel (10%) are also doing well in green.
Unsurprisingly, the crypto market cap has been relatively quiet at around $1.9 trillion.
Overview of the cryptocurrency market. Source: quantify crypto
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Cryptocurrency charts from TradingView.
This post Axie Infinity (AXS) Explodes 17%, Bitcoin Holds $41K
was published first on https://cryptopotato.com/weekend-watch-axie-infinity-axs-explodes-17-bitcoin-maintains-41k/