Axie Infinity, Decentraland & Binance Coin — Asian Wrap 11 Feb

Axie Infinity price faced intense selling pressure during the release of U.S. CPI data. The data was higher than expected, and fears of the Fed introducing higher rates returned, but those concerns were already known. As a result, the initial selling pressure across all risk-on markets resulted in a massive ‘buy-the-dip’ opportunity for AXS longs.

Decnetraland price action has tested the bottom of the Ichimoku Cloud (Senkou Span A) at $3.15 for the past five trading days as support. $3.15 has thus far held, but the frequency of the tests has caused some concerns for bulls. Substantial downside risks if bulls cannot keep MANA above crucial support zones.

The world’s largest exchange’s latest investment in media and publishing giant Forbes had a negative impact on Binance Coin price. Forbes would use the $200 million investment to merge with a SPAC. Binance announced its $200 million strategic investment in Forbes.