There is news from popular metaverse project Sandbox (SAND), Axie Infinity (AXS), and DeFi project Aave (AAVE). Also, while Bitcoin prices remain high, altcoins follow suit. Popular assets like Cardano (ADA), Chainlink (LINK), and Quant (QNT) could hit highs by the end of the week, according to crypto analyst Sahana Vibhute.
SAND, AAVE and AXS news
First news from Sandbox (SAND)
You’ve probably come across the word ‘metaverse’ by now, some call it the decentralized web. SAND is one of the leading metaverse ecosystems consisting of 166,464 individual parcels of land. The Sandbox metaverse is still in its early stages of adoption. Despite this, it has already reached over 2 million users. More interestingly, cryptocoin.comAs you follow from Snoop Dogg and Paris Hilton, celebrities also participated. Meanwhile, Metaverse continues to scale. Also, SAND stands out as a favorite in the industry, competing with the likes of Decentraland.
DeFi project AAVE is developing
Aave is a permissionless liquidity protocol that allows crypto users to lend and borrow digital assets. This DeFi protocol hit the market during the 2017 ICO craze. It has since become an industry leader. According to DeFi Lllama merics, over $6.4 billion is currently locked in the Aave ecosystem. Here, Ethereum takes the lion’s share. More importantly, Aave has stood the test of time, given that most DeFi projects don’t deliver as promised.
With the DeFi lending and borrowing market gaining momentum, Aave recently launched a permissive pool targeting institutional investors. Called Aave Arc, this new product allows agencies to access Aave’s offerings while remaining compliant with regulatory bodies such as the SEC and FATF. A move that has seen the platform scale from its individual client base to the larger corporate market.
Popular metaverse Axie Infinity
Finally, we look at the paly-to-earn category. This niche has taken the crypto ecosystem by storm. Gamers from developing countries like the Philippines are flocking to the platform to earn extra income while playing games. The Axie Infinity game rose in the rankings last year.
ADA, LINK and QNT analysis
Crypto analyst Sahana Vibhute analyzes the price movements of Cardano, Chainlink and Quant as follows.
Cardano (ADA)
Cardano price is breaking out of the bearish triangle. It shows a bullish trend higher. However, the bears used all their resources to keep the price below $0.55. So, the break is still not confirmed. However, a clear break above certain levels is possible to confirm the upcoming bullish trend.
ADA price is currently out of the triangle. But due to the lack of pressure to buy, the probability of a fraud seems pretty high. Therefore, a daily close above $0.57 is likely to push the price higher than the bears can reach. In this case, it is possible to open a path towards the upper critical resistance at $0.64.
Chainlink (LINK)
With the start of the bullish week, the Chainlink price has also risen significantly. Altcoin broke out of the pattern. It has reached a high which indicates a resurgence of the bullish trend. Therefore, LINK is poised to increase by 8% to more than 10% to hit double digits soon.
LINK price has now broken the symmetrical triangle long before it reaches the top of the triangle. Therefore, the rally may be more prone to losing most of the gains and re-entering the consolidation phase. It is then possible for LINK to maintain the accumulated consolidation throughout the week. Also, it is likely to break out quickly after reaching the top.
Quant (QNT)
Quant price has been heavily depleted since the beginning of 2022. It hit lows near $40 in the recent past. However, the altcoin quickly recovered. It has risen significantly from the lows to current levels near $130.
QNT price has repeatedly recorded green candles with a spike in buying volume. Currently, the price seems to have reached its daily highs. Therefore, significant congestion is likely. Therefore, a minor pullback below $125 could trigger a catapult move to higher highs near $150.
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