Sky Mavis, the company behind Axie Infinity, is laying off 21% of its workforce as part of a strategic refocus. Laid-off Workers to Receive Job Placement Assistance Sky Mavis, the blockchain startup behind Axie Infinity, announced plans to lay off about 50 employees, or 21% of its workforce.

The firm's founder has stressed that the layoffs are not financially motivated.

Sky Mavis is pushing for growth, and as part of this restructuring, it has downsized its workforce.

Axie Infinity creator Sky Mavis lays off 50 employees as part of broader efforts to adapt post-hack and market shifts.

Sky Mavis co-founder and CEO Trung Nguyen said resources freed up from the layoffs will be used in a new Axie Infinity game and other projects.

Sky Mavis cut 21% of its workforce to focus on core products, with the CEO claiming it wasn't due to financial issues. The post Axie Infinity Creator Sky Mavis Lays Off 21% as Part of Restructuring appeared first on Cryptonews.

Sky Mavis has laid off 21% of its workforce The web3 firm said the decision was not related to its finances.

The layoff reflects a strategic move to focus on its projects, including a new Axie Infinity game, according to its CEO.

This week's 'top cryptocurrencies to watch' are all from the gaming market segment: Sandbox, MANA and Axie Infinity.

Bitcoin (BTC) continued towards the $100,000 mark, rising to a new all-time high of $99,314 before declining to its current level of $99,124. BTC is now up 45% since Donald Trump was announced as the winner of the US elections.

Axie Infinity (AXS) and Smooth Love Potion (SLP) tokens have crawled back in the past few days as the ecosystem started to bounce back. The SLP coin was trading at $0.0035 on Friday, up by 65% from its lowest point this year. Similarly, the Axie Infinity coin was trading at $5.

HBAR, OM, and APE are grabbing the spotlight as Binance unveils expanded trading pairs and Spot Algo services. Launching November 22, the announcement has market watchers eyeing a rally despite recent turbulence in token prices.

Surge in Whale Activity: Several altcoins, including ApeCoin (APE), SushiSwap (SUSHI), and Treasure DAO (MAGIC), have experienced a significant rise in whale transactions. According to Santiment, these cryptocurrencies have seen a marked increase in large trades, indicating potential price shifts that may go against their recent patterns.

Bitcoin (BTC) has rocketed by almost 10% in the past 24 hours and has just set a new all-time high of $74,730, as Republican candidate Donald Trump took an early lead in the presidential elections.

ApeCoin (APE) faces strong downward pressure, with several indicators signaling potential further declines. The 7-day MVRV suggests recent buyers are mostly at a loss, which hints at undervaluation but leaves room for additional downside.

In a recent court decision, Aurelien Michel, creator of the “Mutant Ape Planet” NFT collection accused of defrauding investors, has avoided prison but will forfeit over $1 million as part of his sentence.

In an interesting development, the creator of the fraud NFT collection “Mutant Ape Planet” Aurelien Michel is set to avoid a prison sentence following a recent court ruling. However, the defendant has been ordered to forgo over $1 million as punishment for conducting a rug pull.

Michel sentenced for defrauding investors through Mutant Ape Planet NFTs. Court ordered $1.4 million forfeiture and a $15,000 fine.

Mutant Ape Planet creator Aurelien Michel pleaded guilty to defrauding investors and avoided a prison sentence.

ApeCoin is holding steady at the crucial $1 support level, fueling speculation on whether the bulls are ready for a comeback as it maintains its position above this key mark. Recent bearish pressure has driven the token to a point where a recovery might be on the horizon, yet the critical question is: can buyers defend this level and push prices higher?

Bitcoin (BTC) is teasing a record high after it peaked at $73,464 on October 30, bringing it within touching distance of its all-time high of $73,750. However, the cryptocurrency has registered a marginal decline during the ongoing session and is trading just above $73,200.

Here is how some of your favorite assets concluded the week.

Altcoins outperformed this week as BTC traded in a tight range.

Despite a recent pullback, AXS is set for a strong recovery.

ApeCoin (APE) price has surged 63.86% in the last seven days, but major holders remain skeptical. The number of wallets holding between 1 million and 10 million APE has dropped consistently since October 19.

Apecoin has experienced a strong upswing over the past month. However, dormant wallets are on the move and prices have tumbled.

As 2024 draws to a close, the cryptocurrency market is abuzz with anticipation, especially for altcoins that demonstrate potential for substantial profits. Apecoin (APE), SUI, and Rexas Finance (RXS) are particularly notable among these options.

On the other hand, POPCAT has skyrocketed by 17% in the past 24 hours.

ApeCoin (APE) price is down roughly 15% in the last 24 hours after rising more than 100% between October 19 and October 21. The MVRV suggests that many holders are still in a position of unrealized losses, indicating weak market sentiment.

The on-chain analytics firm Santiment has revealed the potential reason behind the corrections that Dogecoin and Apecoin have faced recently. Dogecoin & Apecoin Are Among Memecoins That Fell Prey To FOMO Recently As explained by Santiment in a new post on X, the Positive Sentiment vs.

On "Markets Daily", CoinDesk's Jennifer Sanasie breaks down the driving forces behind the surge in ApeCoin. Plus, the challenges faced by the ApeChain when it comes to maintaining momentum.

ApeCoin is facing a tough setback as bearish momentum intensifies, with the price hitting a strong resistance at $1.755. After an attempt to push higher, the bulls have lost ground, allowing the bears to take control and halt the upward movement.

Positive sentiment surrounding ApeCoin initially propelled its price upward; however, excessive bullishness indicated a potential correction, which materialized with a 15% decline over the past day.

The Apecoin (APE) token has been the hype of the week, from the top performer of the week to the worst performer today. So, what's next?

Almost all major cryptocurrencies, including Ethereum (ETH), Solana (SOL), Ripple (XRP), Dogecoin (DOGE), Chainlink (LINK), and Polkadot (DOT), have registered substantial declines. The crypto market cap has also dropped by 0.82% and currently stands at $2.31 trillion.

One altcoin running on the Ethereum (ETH) network is seeing massive gains after a new blockchain launched in its ecosystem. ApeCoin (APE), the digital asset associated with the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, soared to $1.74 on Monday, a 135% jump in value form Saturday.

Are NFTs making a comeback? Following the surge in BAYC's ApeCoin after the ApeChain launch, investment is now shifting towards Axie Infinity, The Sandbox, and emerging layer-2 blockchains.

The cryptocurrency market continues to recover, with Bitcoin holding steady at around $69,000 and Ethereum reclaiming the $2,700 mark, investors are buzzing with excitement. Many analysts believe we are on the cusp of a significant Altcoin Season, where mid-cap and small-cap altcoins could see explosive growth.

D3 Global, a web3 domain name company, has launched top-level domain names for the ApeCoin community. An announcement the firm published on Oct. 22 noted that the ApeCoin (APE) ecosystem can now use the.

ApeCoin token experienced a sharp reversal on Oct. 22, erasing some of the gains made in the previous five days. ApeCoin (APE), associated with Yuga Labs, the creators of Bored Ape Yacht Club, retreated to $1.

The launch of Apechain was one of the most bullish events for the APE price rally as the token surged above the current consolidation.

The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 22, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

The ApeChain launch still provides Ape Coin price with tailwinds, but Bitcoin has taken a more prominent role in defining market direction.

ApeCoin has doubled in value, with bullish options activity suggesting traders are optimistic about further growth, driving up open interest by over 800%.

ApeCoin has surged a remarkable 100% in the last week following the announcement of Apechain and a new staking program.

APE has doubled in value to $1.5 since the weekend.

The altcoin market, led by ApeCoin (APE), has been gaining bullish momentum following the recent Bitcoin (BTC) price pump towards the 2021 all-time high (ATH) above $69k. The web3 projects have been making impressive and strategic partnerships in the recent past to ensure sustainable growth shortly.

With renewed interest, ApeCoin's momentum is set to grow, fostering a community of both newcomers and seasoned holders.