What are the latest crypto news regarding Axie Infinity (AXS), Terra Classic (LUNC) and Arbitrum Crypto (ARB)? We take a look at updates and price trends in crypto.
Analysis of AXS, LUNC and ARB crypto assets.
It is worth recalling that Axie Infinity (AXS) is an ERC 20 governance token to enable the operation of the Axie blockchain. The LUNC token, on the other hand, is the evolution of Luna and its related blockchain Terra.
Finally, Arbitrum Crypto is a blockchain platform developed by Offchain Labs, a company that aims to make cryptocurrencies more scalable, secure, and easy to use.
AXS price performance: will it reach $15 in 2023?
The Axie Infinity price forecast suggests the maximum recovery of the AXS cryptocurrency during 2023, which is assumed to reach $15, as speculated by analysts.
In fact, Axie Infinity could rise with a strong bullish rally by the end of 2023. The price of the AXS cryptocurrency needs to break through the primary resistance level of $9.00 to rise toward the recovery level of $15.
In addition, the price of Axie Infinity must sustain and rise with a strong upward trend to recover the high during 2023. The price of Axie Infinity was $8.53 and gained 6.36% of its market capitalization during last week’s trading session.
However, the trading volume decreased by 23% during the intraday trading session. This shows that sellers are trying to mine the AXS cryptocurrency. The price prediction of Axie Infinity suggests the recovery phase of the AXS cryptocurrency.
As such, as trading volume increases, AXS may skyrocket. However, the change in volume is still below average and needs to grow during the trading session.
Meanwhile, the AXS cryptocurrency is trying to hold at 20-EMA as it strives to reach the daily moving average of 50, 100 and 200 days. Anyway, the price of Axie Infinity has recovered about 15.47% in one week and Axie’s quarterly ratio is also positive with 27.78%. In addition, the price of Axie Infinity has gained about 40.89% since the beginning of the year, confirming the maximum recovery of AXS during 2023.
Crypto updates: LUNC crosses the 50 billion token burn mark
The Terra Classic community (LUNC) has finally crossed the 50 billion token burn threshold. Although this amount represents only a fraction of Terra Classic’s supply, it underscores the community’s efforts to rejuvenate the asset.
Total burns recently reached 50.11 billion tokens following a series of burns conducted over the past week. As of last Wednesday, total burns stood at 49.7 billion tokens: this means that the community has burned 410 million tokens in the last week.
As the largest single burner, Binance accounts for 28.95 billion tokens, about 57% of the total 50.11 billion tokens burned. We remind that the exchange burned an estimated 8.8 billion LUNC in a single transaction earlier this month.
Centralized exchange MEXC is fourth on the list, with 1.017 billion tokens burned so far. In addition, Validator LUNC DAO has burned 450 million, securing the fifth position, while Allnodes is sixth with 344 million tokens.
Cremation Coin, a newly launched project, is seventh, burning 265 million LUNC. Despite efforts to support the fire campaign, some members of the Terra Classic community have complained about the low burn rate, noting that the current burn rate will barely make a dent in the asset’s ample supply.
In this regard, some data suggest that the total tokens burned represent 0.729% of the total supply of the 6.8 trillion LUNC asset. The current burn rate is 198.1 million LUNC per day. At this rate, about 401 billion Terra Classic, or 5.837% of the total supply, will be burned in the next five years.
New ARB crypto: how is its performance going?
A week ago, Ethereum‘s Layer-2 scaling solution Arbitrum announced the launch of its native token called ARB, and since then the IOU markets have been launched giving some indications of how much the token might be worth.
The claim for ARB starts on 23 March, and when people get their coins on the exchanges, the value of the token could turn out to be very different. At the moment, ARB has hovered around the value of $5.41 to $7.92 per unit in the past 24 hours.
The cryptocurrency market price aggregation website Coinmarketcap.com (CMC) shows the current value of ARB via exchanges that have launched IOU markets. According to CMC data, the ARB IOU token reached an all-time high of $14.02 per unit on 19 March.
Since then, the IOU token is down about 51.43% from its all-time high three days ago. ARB IOU tokens also recorded an all-time low at $2.81 per unit and current prices are 140% higher at $6.88 per coin.
While 24-hour metrics show prices between $5.41 and $7.92, the IOU recorded global trades of $8.7 million in the last day. In that time, ARB markets lost nearly 8% against the US dollar on Wednesday, 15 hours before the start of ARB claims.
Cryptocurrency analytics platform Dune Analytics shows several ARB airdrop tracking tools ready to be published on 23 March. When requests begin, the tools present metrics highlighting the total ARB claimed, the number of unique ARB holders, and other allocation data.
The current IOU value of the ARB token is higher than Optimism’s native governance token OP. The current value of OP is about $2.53 per unit and there is a circulating supply of 314,844,141 OP.
As mentioned earlier, once real ARB tokens start trading, the market value could change significantly, and the historical high and low of the IOU token indicate that these changes are likely to continue for some time.