Main navigation

AXS of Axie Infinity Gets Massive Attraction from Biggest ETH Whales with Its Price down 90% Since ATH

Advertisement
Fri, 22/07/2022 - 10:14
AXS of Axie Infinity Gets Massive Attraction from Biggest ETH Whales with Its Price down 90% Since ATH
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Popular crypto game Axie Infinity AXS token gained good traction in the circles of major Ethereum whales and managed to get into the top 10 most bought assets in 24 hours according to the WhaleStats portal. The average purchase amounted to 167 tokens, or $2,646.

Advertisement

It is unlikely that large holders of ETH decided to play Axie Infinity at one time, which means that the purpose of these purchases is to obtain a good potential profit. This idea correlates particularly well with the fact that AXS has lost more than 90% in price from its historic highs of $160. In the crypto market, price corrections of 75% to 90% are considered good times to gain a position. Apparently the time for AXS has come.

Article image
Source: TradingView

As can be seen from the chart, AXS quotes, following the entire crypto market, performed the famous movement of early June and found themselves in a narrow price corridor with its lower boundary at $12.35 per token.

In-game malfunctions undermine credibility of Axie Infinity

That is not to say that Axie Infinity itself is doing well. Recently, the game was heavily criticized when it was revealed that many players were abusing the in-game mechanics by using multiple phones and accounts at once. As a result of these shenanigans, there was another token SLP game offering.

Advertisement

At the same time, many point out that Axie Infinity still has a chance for the future, especially in the e-sports realm, with the timing of the opponent search still suggesting a large number of players.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD