{"id":460122,"date":"2023-11-27T10:03:44","date_gmt":"2023-11-27T10:03:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=460122"},"modified":"2023-11-27T10:03:44","modified_gmt":"2023-11-27T10:03:44","slug":"next-cryptocurrency-to-explode-monday-27-november-meme-kombat-axie-infinity-maker","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/next-cryptocurrency-to-explode-monday-27-november-meme-kombat-axie-infinity-maker","title":{"rendered":"Next Cryptocurrency to Explode Monday, 27 November – Meme Kombat, Axie Infinity, Maker"},"content":{"rendered":"

The global cryptocurrency market has experienced another fluctuation in its key metrics, marking decreases and increases across various parameters. As of the latest data, the total market capitalization of cryptocurrencies stands at $1.42 trillion, reflecting a slight decline of 1.22% in the last 24 hours<\/a>.<\/p>\n

However, within the last 24 hours, the overall trading volume in the crypto sphere has surged significantly, reaching $43.62 billion, marking a substantial increase of 48.03%. Notably, the decentralized finance sector contributed $4.74 billion to this volume, representing approximately 10.86% of the total crypto market’s 24-hour trading volume.<\/p>\n

An intriguing aspect of this surge lies in the dominance of stablecoins within the trading activity. Stablecoins, with a total volume of $39.64 billion, now constitute a significant majority of the market’s 24-hour trading volume, accounting for approximately 90.87%.<\/p>\n

\"crypto<\/p>\n

Regarding market dynamics, Bitcoin’s dominance currently stands at 51.44%, indicating a marginal increase of 0.07% throughout the day. The next cryptocurrency to explode is expected to rise gradually through the week.<\/p>\n

Asian stocks<\/a> experienced a decline on Monday in anticipation of critical inflation data set to emerge from the United States and Europe later in the week. Additionally, oil producers are scheduled for a meeting that could halt or extend the recent downward trend in oil prices. One notable mover in the market was gold, surging to $2,009 an ounce and briefly touching a six-month peak at $2,017.82.<\/p>\n

Investors displayed cautious sentiment after the month’s end, given their substantial gains. Japan’s Nikkei (.N225) witnessed a slight dip of 0.3%, although it has surged by 8.6% thus far in November.<\/p>\n

Next Cryptocurrency to Explode<\/b><\/h2>\n

The broader index of Asia-Pacific shares outside Japan, MSCI (.MIAPJ0000PUS), also experienced a 0.3% decline despite posting a monthly gain of 6.4%. Chinese blue chips (.CSI300) suffered a 1.1% loss, conspicuously detached from the global market enthusiasm, declining by 2% in November.<\/p>\n

While China’s central banks announced plans to encourage financial institutions to support private companies, the specifics of this initiative remained sparse.<\/p>\n

1. Axie Infinity (AXS)<\/b><\/h3>\n

The Axie Infinity (AXS) token sustained its upward trajectory on Monday, marking a notable recovery within its ecosystem, surging to a peak of $8.27 to become the next cryptocurrency to explode. This price point represents the token’s highest value since April of the ongoing year. Remarkably, at its zenith, AXS surged by an impressive 112% from its lowest point earlier this year.<\/p>\n

Over the past seven days, the count of Unique Active Wallets (UAW) has surged by over 24%, reaching a figure surpassing 42.1k. During this period, network transactions have soared by more than 42%, totaling over 370.9k, while the overall volume surged by 65% to $15.94k.<\/p>\n

\"AXS<\/p>\n

Across the last 30 days, UAW surged by 31%, crossing 75k, while total transactions increased by 13% to 1.4 million, and the total volume spiked by 110% to exceed $50 million.<\/p>\n

These metrics strongly indicate a revitalization of the ecosystem, concurrent with the rebound in cryptocurrency prices. Additionally, alongside the AXS token, the Smooth Love Potion (SLP) surged to $0.0025, marking a staggering 187% increase from its lowest point this year. The increasing user activity within Axie Infinity can be attributed to the augmented value of rewards during this crypto market surge.<\/p>\n

The ongoing crypto bull run also buoys Axie Infinity’s token value surge. Bitcoin surged to $38,445 over the weekend, hitting its highest level since April 2022, having more than doubled from its low point last year.<\/p>\n

Notably, AXS token holders face a significant challenge due to an ongoing unlocking event that has flooded the market with tokens. Over 15 million tokens, valued at over $109 million, were unlocked in October.<\/p>\n

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In just 4 days, Axie Classic weekly active users has hit 100 K ⚔️<\/p>\n

• New game mode: Cursed Coliseum
• In-game tournament with a Mystic Axie prize
• More coming soon 🤫<\/p>\n

Download it here: https:\/\/t.co\/98lUueJmcS<\/a> pic.twitter.com\/YWtBrTUSYN<\/a><\/p>\n

— Axie Infinity (@AxieInfinity) November 27, 2023<\/a><\/p><\/blockquote>\n