Polygon, Axie Infinity & Crypto.com — Asian Wrap 03 Feb

MATIC price continues to consolidate between the $1.60 and $1.70 support zones. As a result, buyers look for an opportunity breakout towards the $1.90 zone, while bears look for a return to $1.40. Large price swings are expected on the long and short sides of the trade.

Axie Infinity price action shows some signs of losing momentum near the $55 price level. Apprehension is understandable given the deep retracement. It’s sometimes hard to forget when looking at the day-to-day movements of various cryptocurrencies, but Axie Infinity dropped over 73% from its all-time high in just 79 days.

Crypto.com has offered Australian users its exchange and application, protection from hacks, phishing scams and unauthorized transactions. Proponents believe that the announcement is one of the key factors that could fuel a bullish narrative for Crypto.com’s native token.