Axie Infinity, Monero and Four Additional Altcoins Looking Ripe for Breakouts: Crypto Analytics Firm

Axie Infinity, Monero and Four Additional Altcoins Looking Ripe for Breakouts: Crypto Analytics Firm


Blockchain gaming crypto Axie Infinity (AXS), privacy coin Monero (XMR) and four more altcoins are conditioned for rallies, according to data from analytics firm Santiment.

Besides AXS and XMR, the firm highlights decentralized application (DApp) platform Quantum (QTUM), Web3-focused Ankr, Solana-based liquidity provider Raydium (RAY), and XRP competitor DigiByte (DGB).

“There are usually at least a few crypto assets that are being excessively shorted by bearish traders at any given moment. Our latest insight looks at the negative funding rates of XMR, AXS, QTUM, ANKR, RAY, and DGB for potential opportunities.”

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Source: Santiment/Twitter

A short squeeze occurs when an excessive amount of short sellers enter the market, and then get hit by an unexpected price spike that causes a chain reaction of liquidations and consequently

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