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Inside AXS’s effort to come back in time

Axie Infinity (AXS) fell by 89.74% in the past year, which made 2022 a tough year for AXS holders.

The decline didn’t just affect the governance token of the Axie Infinity ecosystem, but the performance of the token itself. Every time other cryptocurrencies got a break, AXS wasn’t able to follow in their path.

If AXS reaches Ethereum’s market cap, it could rise by 187.33 times.

Still, the coin’s value has increased significantly by 14.37% in the last week, which may be a good sign for the year 2023. Also, the crypto whales on Binance Smart Chain seem to have taken interest in the coin.

Whale Stats says that AXS is the seventh most popular cryptocurrency bought by investors with emerging wallets.

Axie+Infinity+(AXS)+fell+by+89.74_ (1)

Will this be the last time you can get it?

Sentiment, an on-chain analysis tool, showed that the market capitalization of AXS supply was going up compared to its real value. This was the case, as shown by the Market Value to Realized Value (MVRV) ratio.

At the time this was written, MVRV was rising on the market by 5.376%. Short-term investors often do things like this to lock in their profits. Surprisingly, Axie Infinity has drawn a huge number of investors who want to join the AXS network.

After the number of active addresses for 24 hours went up to 350, this conclusion was made. Since it has been hard for AXS to find new customers who want to send or receive transactions over the past year, the increase could be good for the company.

Axie Infinity (AXS) Price Prediction for 2023 and 2024

Concerning tokens that can’t be traded, the Axie Infinity team said that “new Secret AXIE Eggs” would be coming out. In the full statement, it says that each egg reveal will have its own class.

The blockchain shows that the total value of all NFT transactions for AXS was $409,000. Even though there was an increase from the 9th of January, the volume was the lowest since the 2nd.

But compared to yesterday, more traders bought AXS NFTs worth more than $100,000. At the time this was written, Sentiment data showed that these collectibles were being sent to three different addresses.

This doesn’t mean that people are becoming more interested in owning AXS NFT. Depending on how the NFT and crypto markets are doing, this could be a big deal or not.

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About MahKa

Inside AXS's effort to come back in timeMahKa loves exploring the decentralized world. She writes about NFTs, the metaverse, Web3 and similar topics.

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