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#Axie infinity news trial#
The low cash liquidity followed by stringent policies from Federal Reserve would also trigger more losses for AXS tokens.During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. After the publication of a CPI report, AXS dropped by 7.5% in value. This further increased the fear among investors concerning the hiked interest rates by the Federal Reserve. In May 2022, the annual CPI or consumer price index increased by 8.6% as opposed to 8.3% in April. But amidst rising inflation, the bearish outlook of Axie Infinity has increased. It is true – rising inflation has had a negative impact on some of the best cryptocurrencies in the market. This new branding of the platform further proves that the game is no longer performing and appealing to players. Simultaneously, the top executives of the platform have changed their position to “play-and-earn” from “play-to-earn”. It is also important to understand that the in-platform volume of Axie Infinity, which is measured by evaluating its Ronin chain, is down to $2.12 million from $300 million. In fact, data predicts that the drop in player count can go from 8,950 to 63,240 in six months. If the player count continues to drop, you can expect to see an 85% decline by the end of the year. The fact of the matter is that ecosystem of Axie Infinity has been through several stages. Besides, no player wants to buy AXS and earn low-valued AXS and SLP units. After the native token of Axie Infinity started to drop in value, the game was no longer attractive to new players. And when new players are unable to do that – old players decide to sell their Smooth Love Potion native tokens along with AXS earnings in crypto marketplaces.Ĭonsequently, this triggers a downward trajectory for AXS and puts more pressure on the market rates. Ultimately, old players on Axie Infinity now depend on new players to increase or maintain the demand for Axies. Players can win big tournament grants to get additional AXS. After a win, the Axie Infinity ecosystem rewards players with Smooth Love Potion or SLP, which serves as a native token. Technically, when new users become part of the Axie Infinity platform, they need Axies to fight against other lines of Axies. These native non-fungible tokens revolved around Axies, flurry digital pets.Īt the same time, AXS also used to work as a dedicated token for players so that they can spend more and breed a new line of Axies altogether. This, in turn, made it possible for players to buy native NFTs. Historically, AXS worked as a settlement token as part of the gaming ecosystem of Axie Infinity. Low AXS Demand Due to Decreased Player CountĪs of now, remember that 90% of the drawdown is already in place, but Axie Infinity is still at risk of bearing more significant price losses.
Technical data also indicates that the performance parameters around Axie Infinity are no longer effective and robust. It looks like the cryptocurrency may further decrease in value in the next few months.
However, market experts believe that the worse has yet to come for Axie Infinity. In terms of performance, data shows that Axie Infinity has managed to hit the bottom top-tier cryptocurrencies. In fact, the sharp corrections continue to work against AXS.
After hitting a peak of $172 back last November, the current value of Axie Infinity is down by 90%. Although the Axie Infinity continues to face major setbacks, the technical setup of AXS forecasts a sharp 2500% continuum in its price.
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