- Axie Infinity’s native token, AXS, is up nearly 40% in the past week.
- For any game to work it is important to have a community of active players, this growth could attract players again.
- The platform has lost 83% of its players that it owns in January 2022, when it reached its highest point.
In the crypto ecosystem, as in the rest of the world, there are fads, some last longer and others less. The gaming “fashion” had its moment after the COVID-19 pandemic, together with that of NFTs, for example, and seeks to resurface after hitting rock bottom in 2022. Axie Infinity, the game that managed to transcend, wants to stay again to the forefront
The video game that was all the rage in much of Asia and Latin America seems to have found the right path in 2023 and has greatly benefited from the growth of the entire sector.
AXS grows
Axie Infinity’s native token, AXS, has risen nearly 40% in the past week to settle at a price of $12.50, making it the 41st most powerful cryptocurrency on the entire market.
His rise, the second highest in the top 100, just behind Aptos, is a breath of fresh air for the game, which in the third quarter of 2022 lost 91% of its value, according to information published by bitcoinst. The all-time high value of AXS was $165 in November 2021; the minimum in the past month reached $5.86.
Beyond the revaluation of a token that has known better moments, for any game to work it is important to have a community of active players. With the rewards very low (previously users could easily withdraw hundreds of dollars), many have left the project and have assured that they do not think of returning.
This can be seen in the graph of activeplayer.io: The number of average players in the past 30 days was 432,001, with a loss of almost 8% compared to the 468,500 that closed in 2022. This drop is significant although it is far from the 55% loss that the game had in last June: it went from 2,160,254 players to just 958,044.
The historical maximum of players occurred at the end of January 2022 with 2,780,533 after months and months of growth. It is currently at a minimum, with a situation very similar to the one experienced in November 2020. Although there is an important difference: at that time the token was worth $0.12, managing to grow more than 10,000%. Does this mean a huge opportunity or a waste of money/time in a game that will never be the same again?
Axie NFTs, market leaders
Another point that is exciting to see the rebirth of Axie Infinity is that heThe digital gaming NFTs continue to be the most traded in the market. The total exceeds 4 billion dollars and is ahead of two very famous collections such as Cryptopunks or Bored Ape Yacht Club (BAYC).
The technical analysis carried out by Bitcoinist sees resistance at the price of $13.20, so it would be important to quickly overcome that race and thus turn it into a floor. From his perspective, there is good support at 12.23, which will allow it to continue climbing towards 15 in the short term.
“For now, investors and traders can confidently hold AXS in the short to medium term, as profits can still be made.”they highlighted.
Within the gaming category of Coin Market Cap, AXS appears as the third strongest cryptocurrency behind only Apecoin (APE) and Decentraland (MANA). Further back are The Sandbox (SAND), Enjin Coin (ENJ), Gala (GALA), and Stepn (GMT).
The question that everyone is asking and nobody has the answer is, will there be a new rebirth for Axie Infinity’?
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