The Bitcoin ( ) price is relatively stable on the 24-hour chart. It was down 0.56% at the time of writing and trading at $33,200.
With the approaching Fourth of July holiday weekend in America, the overall cryptocurrency market was flat on July 2. This low trading volume was accompanied by a $5 billion decrease in total cryptocurrency market capitalization to $1.378 trillion.
Despite the difficulties faced by the market overall, Cointelegraph Markets Pro data has identified bullish developments Axie infinity (AXS), and Waves (WAVES), thanks to recent developments regarding nonfungible tokens.
Axie Infinity, (AXS).
Axie Infinity, a blockchain-based trading game and battling game, allows players to breed, raise and trade token-based Axies. The price of AXS plunged to $6.40 intraday on July 2, after hitting a low of $2.85 June 22, when the price BTC fell below $29,000. As the demand for Axies continues to grow, it has risen 125%.
VORTECS(tm), data from CointelegraphMarkets Pro started to detect a bullish outlook on AXS in June 29, before the recent price increase.
Cointelegraph's exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.
The chart shows that the VORTECS(tm), Score for AXS was first in the green on June 26, as AXS prices began to rise. It finally hit an all-time high of 83 on June 29, as AXS's price climbed another 45% in three days.
The VORTECS(tm Score for AXS has risen to an all-time high of 86 at the time of writing. This indicates that Axie Infinity could have more upside based on previous price actions.
Cointelegraph Markets Pro has identified Waves as a strong performer, after Waves' VORTECS(tm), Score became bullish in June.
The chart shows that market conditions for Waves were favorable in June. Its VORTECS(tm Score reached 83 on June 27th, just four hours before it began to rise by 35% over three days, from $13.31 up to $17.75.
On July 2, the VORTECS(tm), Score for WAVES rose to 83, indicating that the bullish case may still be valid for WAVES.
Bitcoin hovers around $33,500
The overall weakness of the altcoin market is due to Bitcoin's price falling below $33,400, as many traders seem to have taken advantage of their holiday weekend.