Axie Infinity – Significant Price Losses
The technical setup of AXS predicts a steep 2500 percent increase in the price of the Axie Infinity despite the fact that it continues to experience significant obstacles. The price of Axie Infinity has decreased by 90% after peaking at $172 in November of last year. In actuality, AXS continues to suffer from the abrupt adjustments. Data indicates that Axie Infinity has reached the lowest tier of leading cryptocurrencies in terms of performance.
The worst, according to market analysts, may still be yet to come for Axie Infinity. It appears that the value of the cryptocurrency might continue to fall over the coming several months. The performance characteristics around Axie Infinity are no longer reliable and effective, according to technical data.
First Mystic bought with Lunacian code? pic.twitter.com/3BF6qbLSXz— The Jiho.eth 🦇🔊 (@Jihoz_Axie) June 17, 2022
Reduced Number of Players
Even if 90% of the downturn is already in place as of right now, Axie Infinity is still at risk of experiencing more major price declines. In the past, AXS served as a settlement token for the Axie Infinity gaming network. Players were then able to purchase native NFTs as a result of this. Axies, the flurry digital pets, were the focus of these native non-fungible tokens.
AXS also used to serve as a dedicated token for gamers, allowing them to spend more and create an entirely new line of Axies. In order to compete against other lines of Axies, new users of the Axie Infinity platform technically need Axies. Axie Infinity’s ecosystem rewards participants with Smooth Love Potion, or SLP, a native token, after a victory.
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