HomeTradingTron, AXS and Bancor in free fall

Tron, AXS and Bancor in free fall

Among the most interesting crypto assets, Tron, AXS and Bancor suffer a bad day.

Price analysis of the crypto assets Tron (TRX), Axie Infinity (AXS) and Bancor (BNT)

Tron, AXS and Bancor were negative Tuesday, yet for these crypto assets the future looks bright.

On a day when the Nasdaq loses 2.50% and crypto assets trudge along we see together how Tron, Axs and Bancor are doing.

Tron (TRX)

After a very positive month, the price of TRX ran into a bad day and is currently down 4%.

The currency that is one step away from the top 15 in market capitalization with nearly six billion euros comes to a halt on a bad day for many other crypto assets.

The new home of BitTorrent has always stood as a decentralized platform for content sharing and EPW (Earn Per View).

Not only content though, the Tron (TRX) platform gives the ability to create dApps, smart contracts, and the use of financial instruments from DeFi.

Axie Infinity (AXS)

Axie Infinity follows closely on the heels of Tron’s momentum and leaves the field a resounding 8.70%.

AXS’s market value is €9.68 but its estimates have been filed down by analysts.

The revisiting of targets for Axie Infinity relates only to the long ones obtained by first looking at the 21-period moving average.

Through the above moving average, the position of long buyers can be inferred net of news that may affect the market.

The first resistance is set at €12.80 and the next resistance at €15.00. Those who have bought from September to today might indeed have bought at the lows.

Despite today’s heavy decline, investors remain calm and confident about the future of the AXS token.

P2E (Play to Earn), of which Axie Infinity has always been a distinguished exponent, is a trend and will be increasingly so for years to come.

Growth estimates for P2E for 2023 are 30% and the same for next year.

When adding the fact that we should be nearing the exit from the bear market to the gaming industry’s growth trend, worries about the token vanish over the horizon.

The most calm nights are those of long investors, whereas traders need to stay vigilant.

Bancor Network Token (BNT)

Bancor Network describes itself as:

“a fully on-chain liquidity protocol that can be implemented in any blockchain that enables smart contract management.”

The token is losing traction on the web, and 2023 recorded that the token suffered a 2% drop in search engine results.

Moreover, today we find that the price of BNT loses 2.92% in value.

After a very positive week that saw the crypto appreciate by almost 15% today its value stops at €0.47.

Today’s negative trend is also confirmed for the crypto of the famous network.

According to Investor Observer, despite today’s setback, BNT has a bright future ahead of it to the point that the token would be poised to explode in a bullish direction.

In the meantime, Bancor’s DAO has released Carbon, a protocol for buying and burning BNT.

Carbon’s application for Bancor Network Token (BNT) aims to give a major boost to the digital currency through the reduction of BNT in circulation.

George Michael Belardinelli
George Michael Belardinelli
A former corporate manager at Carifac Spa and later at Veneto Banca Scpa, blogger and Rhumière, over the years he has become passionate about philosophy and the opportunities that innovation and the media make available to us, in particular the metaverse and augmented reality