TRADING UPDATE: Crypto downtrends, Azuki declining, Shibarium woes, and Bitcoin lows

Crypto on a downtrend or pausing for air?

Bitcoin has settled under $27,000 at $26,400 after falling from just over $29,000 in recent weeks. On Wednesday the token fell to around $25,800 before regaining a few hundred.

The market overall has slowed and even some memecoins are on a downtrend after making multiple X’s for traders in previous weeks.

After the launch of Shibarium and its bridging issues, the Shiba Inu token is down 10% over the past 7 days. Shibarium users are still encountering issues with the new layer 2 network including transaction blocks not being created.

Launching with an airdrop for dedicated web3 users across all blockchains, Sei Network’s SEI token is down 20.8% over 7 days. Days after launch, SEI pumped to 0.45, its current all-time high.

In NFTs, Azuki seems to have lost its blue-chip status among NFT traders when the Azuki team expanded the brand with the Azuki “Elementals” collection. The uniqueness of the NFTs was called into question and holders became dissatisfied with the Azuki team’s performance over time.

Azuki NFTs now sit on a 3.9 ETH floor after maintaining a 10+ ETH floor for most of its lifetime up until the release of Elementals. Similarly, Bored Ape Yacht Club NFTs are on the decline with BAYC NFTs trading on a 24.49 ETH floor after going for almost 100 ETH last year.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex Buckley

Alex is an editor at who focuses on cryptocurrency and web3 gambling.

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