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Axie Infinity to Go 100X! LINK, COSMOS and DOT Price to Follow!

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It can be seen from the green candles in the crypto market that many altcoins are making good profits showing the very first moments of the altseason. The crypto space regained the lost momentum with the start of the new quarter. As Bitcoin price broke a major resistance of $44,100 reaching $47,700. This fueled up the altcoin rally, where-in the assets like Axie Infinity, Chainlink, Cosmos, and Polkadot showcase the strong potential of a massive rally in Q4. 

Axie Infinity Price Hits New ATH!

Followed by the announcement of its staking program, Axie Infinity became the first altcoin to initiate the bull run surged by 48.63% in the last 24 hours. Coinmarketcap chart shows that since retesting at a low of $52.2 on September 21, the AXS price surged by 140% higher to hit new ATH at $119.92 on 2nd October 2021. Axie Infinity’s trading volume increased from $421 million to $1.95 billion

As the altcoin season is on the horizon, the asset is expected to continue the bull rally further. The next support level for the asset lies between $65 to $75 if it fails to hold the present resistance.

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Additionally, According to Crypto analyst Elliot Wainman, Axie Infinity can further drive other gaming platforms such as UFO gamingYield Guild, and other Play-to-Earn tokens. He suggested choosing the altcoins with a low market cap to have more profits once they begin the bull run.

These Altcoins to Follow Axie Infinity in the Quarter 4!

Chainlink, Cosmos, and Polkadot also showcase strong potential to follow the path of Axie. According to the popular crypto analyst, Michael Van De Poppe the above three assets can reach  $100 in the present quarter. 

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Chainlink producing a decisive close at $23.34, seems to have confirmed the bullish momentum. As the Link price surged by 8.39% in the last 24-hours reaching $26.03 at the press time. The next resistance level for the asset lies near $31, breaking out could result in a massive price surge. 

ATOM price breaking at $33.67 recently surged to $38.19 with a 5.55% gain in the last 24 hours. The altcoin has an immediate resistance level near $42.79, breakout could result in forming a new ATH. In failing to hold the current support level, the asset may fall well below $30.

DOT price recently encountered a major resistance at $26.33. With a gain of 9.30% in the last 24 hours, the altcoin is trading at $32.06 at the press time. The next resistance level lies at $37.38 breaking out could result in a price surge up to $50. On the contrary, if it fails to do so it may sit at a support level of around $26.

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Terra (LUNA)

Terra completes network update, bridging LUNA with Cosmos, Solana, and Polkadot

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  • Terra’s upgrade to Columbus 5 is on, expected to bring more scalability and features for projects. 
  • Columbus 5 is Terra’s most significant one yet since it introduces a new “burn” policy. 
  • The wormhole, or the bridge between Terra to Solana projects, goes live with Columbus 5. 

The Terra ecosystem undergoes major changes with the arrival of Columbus 5. The upgrade brings a slew of developments and features to the protocol. 

Columbus 5 is here, Wormhole and Burn policy to be live soon

Terra’s most significant upgrade yet has been set in motion at 3:30 AM GMT on September 30, 2021. The upgrade is bringing three critical changes to Terra. There is a planned upgrade to Stargate, integration of IBC protocol, Ozone, Wormhole and a new burn policy. 

These changes are expected to influence the growth of the ecosystem positively. 

The most-awaited addition is the ‘Burn policy’. Traders and speculators have awaited the implementation of burn in LUNA.

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Proponents expect this new policy to have a similar impact on LUNA as it did on the Ethereum ecosystem, pulling tokens out of the circulating supply by burning them. Furthermore, it is expected to have a positive impact on LUNA price by creating scarcity across exchanges. 

LUNA has offered relatively higher risk-adjusted returns than most other cryptocurrencies over the past two weeks in anticipation of Columbus 5 launch. Analysts have compared the altcoin to Solana before its explosive rally. 

Mike Novogratz, CEO of Galaxy Investment partners, is enthusiastic on the arrival of Columbus,

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Stargate will enable integration with the Inter Blockchain Communication protocol to facilitate more interchain use cases. As of now, Terra has 8 live protocols, and the number is expected to multiply in the future with Stargate.

UST is expected to emerge as a preferred stablecoin for decentralized applications. 

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Ryan Watkins, a senior research analyst at Messari Crypto, believes that UST growth will accelerate beyond $2.5 billion in circulation. 

The introduction of Wormhole and Ozone provides insurance to projects built by Terraform Labs and bridges projects on Terra to Solana. When UST moves between both networks, analysts expect further integration and collaboration between projects on both blockchain networks. 

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The launch of the wormhole triggered an explosive rally in Solana. It is therefore considered as a key factor that is likely to drive LUNA demand and utility higher. 

The team behind Terra will share further updates once the upgrade is complete. Until then, they recommend no interaction with the Terra blockchain. 

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Jay Jaboneta, managing director of DLSL Nexus, expects over 50 protocols to go live on Terra in the following months. Jaboneta tweeted,

Jay Jaboneta, managing director of DLSL Nexus, expects over 50 protocols to go live on Terra in the following months. Jaboneta tweeted,

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Cosmos

Cosmos Price Analysis: ATOM slowly retraces from $42, prepares for another push higher?

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  • Cosmos price analysis is bearish today.
  • ATOM/USD retraces from $42 today.
  • Closest support at $36.

Cosmos price analysis is bearish today as a lower high was set yesterday as bulls failed to sustain momentum. Therefore, we expect ATOM/USD to retrace and retest $36 support next.

Cosmos Price Analysis: ATOM slowly retraces from $42, prepares for another push higher? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded in the green over the last 24 hours. The market leader, Bitcoin is up by 0.84 percent, while Ethereum has declined by 2.62 percent. Meanwhile, Solana (SOL) continues to be among the best performers, with several other altcoins following close by.

Cosmos price movement in the last 24 hours: Cosmos tests $42 again

ATOM/USD traded in a range of $38.24 – $41.65, indicating strong volatility over the last 24 hours. Total trading volume has declined by 17.93 percent and totals $1.38 billion, while the total market cap trades around $8.56 billion, ranking the coin in 20th place overall.

ATOM/USD 4-hour chart: ATOM set to retrace today?

On the 4-hour chart, we see the Cosmos price action declining today as bears lacked the momentum to push above $42.

Cosmos Price Analysis: ATOM retraces from $42, prepares for another push higher?
ATOM/USD 4-hour chart. Source: TradingView

Cosmos price action has traded with a strong bullish momentum this month. After a quick spike lower on the 7th of September, support was found around $18, and the market has moved higher since.

On the 20th of September, a new swing high was set around $44.5 after several days of strong upwards pressure. However, bulls were exhausted, and a reversal of 35 percent followed to the $29 mark.

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Late last week, ATOM/USD rallied again and retested the previous major swing high. Any further upside was rejected again, resulting in a consolidation formed above $36 support, leading to the current failed test of $42 resistance and a minor retracement earlier today.

Cosmos Price Analysis: Conclusion 

Cosmos price analysis is bearish as the $42 mark rejected further upside overnight, and the market has declined so far today. Therefore, we expect further downside for ATOM/USD, with the $36 previous support likely to be retested again. 

While waiting for Cosmos to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

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Cosmos

Coin Bureau: Cosmos ($ATOM) Is One of the Most Important Crypto Projects

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Recently, the host of popular crypto trading and market analysis show “Coin Bureau” explained why Cosmos is one of the most important projects in the crypto space.

Cosmos is “a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus.” The designers of Cosmos consider it 3rd generation blockchain technology; they call Bitcoin “Blockchain 1.0”, Ethereum “Blockchain 2.0”, and Cosmos “Blockchain 3.0”.

Here is how they describe the vision for Cosmos:

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The vision of Cosmos is to make it easy for developers to build blockchains and break the barriers between blockchains by allowing them to transact with each other. The end goal is to create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way. With Cosmos, blockchains can maintain sovereignty, process transactions quickly and communicate with other blockchains in the ecosystem, making it optimal for a variety of use cases.

Speaking in a recent YouTube video, the Coin Bureau host “Guy” told viewers the market is significantly undervaluing $ATOM. Guy highlighted the network’s inter-blockchain communication (IBC) feature, launched in March, which allows multiple blockchains to interact on the Cosmos Network.

As reported by The Daily Hodl, he said:

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Cosmos is probably one of the most, if not the most, important cryptocurrency projects out there. This is simply because, without widespread interoperability, cryptocurrency is doomed to fail.

Guy said the release of IBC has cemented Cosmos in a niche that “no other cryptocurrencies are competing in.” Coin Bureau’s host predicted that the price of $ATOM (which is around $33.15 as of September 22) could appreciate 200% in the near- erm, saying that he would be surprised if it didn’t hit “at least $100.” 

Guy said ATOM’s price had yet to reflect the continual increase in fundamentals and the growing number of blockchains adopting the network as a hub. Guy also called the coin’s market capitalization “miniscule” compared to what it ultimately could be. 

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