Altcoins

Solana (SOL) & Axie Infinity (AXS) Price ! Inches Close To the Potential Bottom ! Here’s What Next ?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Mar 1, 2022

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Cryptocurrency values are plummeting after a hectic weekend of Russian sanctions, which have moved the world closer to nuclear war. Ethereum has lost more than 6% of its value, dragging the main crypto markets lower. 

Solana, an Ethereum competitor, is the lone gainer, rising about 7%, while avalanche has lost over 7%. As the war in Ukraine continues and the full impact of Russian sanctions is felt, crypto prices and markets are prepared for another tumultuous week.

Are These Altcoins Carving a Bottom?

Solana (SOL), Axie Infinity (AXS), and one low-cap altcoin, according to a widely known crypto analyst, are all beginning to carve out their bottoms.

After going through multi-month downtrends, Pseudonymous analyst Altcoin Sherpa believes Solana and blockchain-based game platform Axie Infinity are already trading close to potential positive turnaround zones.

The bulls have begun their plans for the Solana, as the market reveals that the price of altcoin spiked to an intraday high of $96 and is currently trading at $95.

On the other hand, Axie Infinity has gained more than two percent in the last 24 hours and is currently trading at $50.

While Altcoin Sherpa feels these three cryptocurrencies are nearing bottom, he believes Ethereum-scaling solution Polygon (MATIC) is facing  significant negative risks.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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