Thursday, February 6, 2025
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Crypto Game Axie’s AXS Token Gets Unlocked, Just as Short Squeeze Drives Up Price

Prior to the unlock, AXS was one of the worst-performing crypto assets by dropping 24% in a week, according to Messari. Traders positioned themselves for dropping further, building up shorts – bets designed toprofit from an asset’s price fall – and funding rates tilted overwhelmingly negative on most exchanges, according

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Smart Money Eyes Market-Neutral Trades as ADA, AXS See Unusually Low Funding Rates

For instance, holding a short position (a bearish bet) in the perpetual futures market tied to Cardano's ADA and play-to-earn giant Axie Infinity's AXS token has become unusually costly, creating a window of opportunity for market-neutral traders to make attractive returns, according to Markus Thielen, head of research at strategy

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Axie Infinity is painting a giant bearish pattern — will AXS price crash another 95%?

Axie Infinity (AXS) has been forming a giant bearish reversal pattern since July last year, which could send its prices down by another 95% in 2022.AXS risks one big breakdownDubbed the "inverted cup and handle," the pattern is identified by its large crescent shape followed by a modest upward retracement.

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