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Institutional demand for Bitcoin evaporates as BTC struggles below $31K
A lack of institutional demand and several bearish factors are complicating all efforts to pull Bitcoin price back above the $31,000 level. The rocky road that Bitcoin (BTC) has been on for the past two months continued on July 19 as a widely predicted move downwards materialized in the early hours on Monday and dropped the price of BTC below $31,000.
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Axe reveals limited run of
Dogecoin-themed
body spray
Axe is set to drop a limited run of a free Dogecoin-themed body spray dubbed “Dogecan,” which is described as exhibiting a “dank musk.” The popular male grooming product manufacturer, Axe. is set to launch a limited run of Dogecoin (DOGE)-themed body spray dubbed “Dogecan.”
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China is pumping money out of the US with Bitcoin
Chinese authorities seem to be putting things in order rather than declaring war on crypto, aiming to further weaken the U.S. economy. The United States annually inject billions of dollars into the Chinese economy without even suspecting it. The reason is that the majority of Bitcoin (BTC), which is exchanged mainly for U.S. dollars worldwide, is mined in China. It hosts 65% of all mining farms.
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Polygon launches blockchain gaming and NFT studio
Through Polygon launches blockchain gaming and NFT Studios, Polygon is attempting to corner two key segments of the blockchain industry: gaming and nonfungible tokens. Ethereum (ETH) infrastructure developer Polygon has spun off a new subsidiary to advance its work in blockchain gaming and nonfungible tokens, or NFTs, offering further insight into the company’s long-term growth strategy. Polygon launches blockchain gaming and NFT studio.
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Axie Infinity (AXS) axes almost half its value following 971% bull run
The AXS/USD exchange rate plunged to as low as $16.02 on July 19, four days after topping out at $29.86. In doing so, the pair attempted to neutralize its extremely overbought sentiments, as flashed by its daily relative strength index (RSI) that treaded above 84 last week, showcasing profit-taking sentiment among investors.