The cryptocurrency market digest (BTC, AXS). Overview for 12.12.2022

The BTC failed to keep balance and on Monday dropped to 16,934 USD.

The second attempt in a row to rise above the intermediate support level of 17,200 USD failed. The market stepped back to the comfortable consolidation area. Now the support levels of 16,600 USD and 16,300 USD turn out working. If they are broken away, a pathway for sellers to 15,500 USD will open.

Nothing new is going on. If the crypto market had a global idea that could balance digital assets out after a decline, the dynamics would be better and prospects would be clearer. However, there is no general idea.

Capitalisation of the crypto market is 840.74 billion USD, the BTC taking up 38.7% and the ETH – 18.1%.

Florida believes in BTC

A US state of Florida is number one among the states in terms of acception of digital currencies and the development of blockchain-basee infrastructure. Firstly, this state accomodates for the largest number of BTC cash machines in the US. According to Invezz information, this is where blockchain startups prefer to open.

AXS became leader of growth over week

The AXS token turned out the most active over a week. It grew by 22%, at certain moments rising by 52%. AXS is a crypto of the Axie Infinity game.

David Schwartz: three reasons for FXT crash

Technical director of Ripple David Schwartz explained the three main reasons for the crash of the FXT exchange. The first one is the fact that Alameda Research used the clients’ money. Another reason is the deliberate mixture of the clients’ deposits and assets for high-risk investing. The third reason is no mechanisms for risk-management.