Many things have changed the dynamics of the digital currency ecosystem over the past week, the most significant being the resignation of Liz Truss, the UK Prime Minister.

While the stock Exchange in the UK showed positive growth following the news, the crypto market was left in a state of uncertainty, and this was shown in the performance of some altcoins in the week-to-date period.

In this week’s edition of Altcoin Watch, we feature three of the worst performing tokens, giving investors a compass to guide their observation of trends in the crypto ecosystem this week.

Infinite Axis (AXS)

Axie Infinity is a top digital token in the Play-2-Earn (P2E) ecosystem, and is partially owned and operated by its players. The coin has had its worst days this year and is currently changing hands at $8.92, down from its 52-week high of $165.37 per data from CoinMarketCap.

Axie Infinity is among the worst performing tokens out of the top 100 coins, and while gaming is seen by the industry as the future of the ecosystem, the chances of AXS recovering and retesting its price best remain bleak in the short term. medium term.

Ethereum Name Service (ENS)

Ethereum Name Service is an open, extensible, distributed naming system based on the Ethereum blockchain. The protocol has continued to carve out a niche for itself in the broader ecosystem as one of the most popular naming service providers in the industry.

However, investors have not favored the digital currency over the past week, with its price of $16.70 trading down 15.51% over the past week. With a slight rejuvenation sweeping through the market, ENS may cut some of these losses, but traders will need to be careful due to its free fall.

Waves (WAVES)

Waves is a multipurpose blockchain platform that supports various use cases including decentralized applications (DApps) and smart contracts. While Waves is known as one of the top performing coins in recent months in relative terms, it was trading down 9.66% at $3.19 intraday.

The coin has high volatility and a good propensity to recoup your profits, but like other profiled altcoins, caution should be exercised when dealing with the coin.

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