Will Axie reach $1000?Axie Infinity Price Prediction 2023-2030
Will Axie reach $1000? AXS will need to rise 100x from current levels, this is not unusual for cryptocurrencies, but can it rise 100x? read on
Read about Axie Infinity Price Prediction 2023, 2025 and 2030 in detail
Latest Axie Infinity Price
Axie Infinity Performance in the last 12 Months
- Last 5 Days: -1.2%, Parity*
- Last 1 Month: -16.6%, Underperformer*
- Last 6 Months: -35.0%, Underperformer
- Last 12 Months: -87.9%, Underperformer
Axie Infinity Price Prediction: Is Axie Infinity a Good Investment?
Axie Infinity is a blockchain-based game where players can fight, collect, and build digital empires for their pets. The game is like Pokémon and Tamagotchi in that it uses non-Fungible tokens (NFTs) to represent unique creatures, abilities, land plots, and other in-game assets. This coin has established itself as a leader in non-fungible token (NFT) gaming, where the AXIE creature is represented by the NFT in the game. This game works on a play-to-earn business model where a player can start this game for free and then get paid to add new features and content.
What is Axie Infinity Used for?
- Axie Infinity Shards (AXS) and Small Love Potion (SLP) are the two in-game currencies that are key to the Axie Play-to-Earn environment, and cryptocurrency investors can trade AXS and SLP in various exchanges.
- There is no age-verification process to play this game, but this game is rated as 18+. When you sign up for a crypto wallet to trade it, eligibility is 18+.
- There was a risk of a fall in the price of this Token during Covid-19. But in the Philippines, many workers turned to the game as a source of income. This drove demand for the Token and it rose from $2 to around $160.
- Axie Infinity has around 0.74 million gamers worldwide. It has become famous as a play-to-earn game that allows gamers in developing countries like the Philippines, Vietnam, and Brazil to earn real money.
How is Axie Different?
AXIE Infinity uses blockchain economic design to reward its players for their great performance.
- While other blockchain games – such as Evolution Land and Gods Unchained – have a niche-specific market, Axie Infinity has attracted people of different age groups from around the world.
- The developers claim that their game presented people with a unique income stream during the pandemic. Many Axie Infinity players are older generations who were unfamiliar with blockchain technology before they started playing the game.
- The popularity of Pokémon Go is comparable to Axie Infinity, from which it drew its inspiration. Nevertheless, it has given gaming an economic importance that other games have yet to achieve.
Is Axie a Good Investment? Utility Perspective
Axie is a trading and gaming platform based on blockchain, which is partially operated by its players. Unlike few other cryptos available in the market, AXS has its utility within its ecosystem.
Below mentioned are two main use cases of AXS:
- Axie token holders can stake their AXS tokens to receive regular rewards.
- The players can earn non-fungible tokens and cryptocurrencies while playing by staking AXS tokens.
It means that Axie Infinity has the potential to grow in the future because it is one of the top-performing gaming cryptocurrencies in recent times.
Is Axie a Good investment? Progress in Development
At the start of 2022, Axie Infinity shared its goal of progressively decentralizing its network. The aim of Axie is to work towards an end-state so that the community members can make resourcing decisions for the platform.
Since the announcement, the team is actively performing the necessary steps too.
- To begin with, it established “Town builders” in May 2022, which were well-established community members having demonstrated governance history.
- Later in July, those Town Builders brought in numerous Contributor Electors to design and execute the pilot program.
- By the end of October, Town Builders and Contributor Electors have distributed the applications for the contribution program and in November 2022, a final list of entrants was rolled out into the pilot program.
Thus, it is slowly making progress and now it has more than 700 community members to join the inaugural pilot season of Axie Contributors. Every contributor will soon have access to the newly created “Governance” section in the Axie Infinity Discord.
Therefore, Axie infinity is progressively moving towards its ultimate goal of decentralizing the platform and getting an excellent response from the crypto community (especially the gaming community) too.
What Factors could Include Axie Infinity Price Prediction?
Several other factors could impact the price of Axie Infinity (AXS) in the coming years
1. For example, the adoption rate of blockchain technology and NFT gaming is a significant factor in the growth of the platform. Any positive developments in the adoption and use of blockchain technology and NFT gaming could result in an increase in the value of AXS.
The NFT gaming niche is experiencing an upward trend, with almost half of all crypto traders considering it as a viable investment route. There are currently over 500 NFT games for mobile devices in a live playable state, with many more in various forms of testing. The top five most played NFT games in 2022 are Axie Infinity, Splinterlands, The Sandbox, Alien Worlds, and Sorare – Fantasy Football. Alien World was leading the NFT games on mobile with the highest number of users, with an average daily rate of over 225,000 Unique Active Wallets. Third-world countries, such as India, Hong Kong, UAE, and the Philippines, see the most significant appeal in the NFT/play-to-earn games genre.
2. The overall health of the cryptocurrency market. As with other cryptocurrencies, the value of AXS is closely tied to the health of the market as a whole. Factors such as central bank regulations, major hackings, or scams, or economic downturns can impact the overall health of the market and result in a decline in the value of AXS.
Will Axie Recover? Why was Axie’s price declining?
- The first reason is the declining number of players in Axie’s ecosystem. The number of active players on the platform was 2.78 million at the start of 2022 and the number has decreased to 701,447 as of October 2022. One of the causes of its declining popularity was the Ronin bridge hack in March 2022. Since the Ronin network has seen a network breach, the number of active players is falling.
- Another reason for the price decline is the unlocking of AXS tokens in late October. According to the reports, Axie Infinity released 10 million restricted tokens to investors and insiders as a part of its $200 million unlocking event. It means that investors were free to sell their AXS tokens.
- Federal funds rates are a major contributing factor to the growth of an economy. Thus, they can also affect the prices of cryptocurrency in a certain way. Reports say that the federal funds rate has increased to 4% as of November 2nd. The increase in the interest rates by Federal Reserve can certainly result in cutting the spending by investors. High inflation and thus, high fed rates can impact people to don’t risk their money in gaming and thus in Axie Infinity. An increase in the fed rate can lead investors to go for other investments, such as Banks, brokerage firms, and cash-rich companies, instead of speculative investments (like cryptocurrencies), such as AXS.
Will Axie Infinity Recover: Conclusion
One month ago, the number of $AXS holders was 59,638, and today the number is 63,688, meaning that there is an increase of 6.35% in just one month.
Image Source: CoinCarp
No doubt that current modifications in the Axie ecosystem are well received by its community.
Axie Infinity has its own utility and use cases, which makes it a useful coin. Also, the Axie team is actively taking steps to make the platform even better along with fulfilling its long-term goal.
Moreover, after FTX’s crash, crypto users are actively moving towards Defi platforms because they are prioritizing self-custody now. Therefore, Axie has a good scope for growth in the future.
Thus, Axie Infinity has a huge potential to bounce back. But, as the macroeconomic and liquidity factors are not much in favor of the crypto industry, AXS’s price might not get back to the pre-covid levels.
Also, we can see that the current fed rates are also not in the favor of the crypto industry.
Therefore, it needs the current liquidity and macroeconomic factors to ease out for Axie to reach its all-time high price again, which indeed will take more time.
Will Axie Infinity reach $100?
To reach $100, AXS will have to rise 12 times higher. At $100, Axie Infinity’s market cap will be $11.6 Billion. If Axie Infinity were to rise 25% every year, it would take 12 years to reach this levels.
Overall, it is likely that Axie Infinity will reach $100.
Axs Price Prediction: Will Axie reach $1000?
Price movements are always one of the crucial factors to determine and predict the price of crypto. Below is AXS’s all-time graph; we can see that the coin peaked at $160.62 in November 2021.
Image: AXS’s all-time graph
AXS’s lowest price was $0.18, meaning that it took nearly 1 year for Axie Infinity to reach its all-time high price of $160.62. Note that, it was almost 892 times growth from its lowest to its all-time high price.
Keeping in mind, its current price of $7.19, we can safely say that AXS’s price has declined by 22.33 times in just 13 months, though it has faced many ups and downs in between.
Considering a growth rate of 892 times (which it showed to reach its all-time value) which it completed in 12 months, we can say that it can grow at a rate of 74.33x in one month.
Can Axie Infinity reach 1000?
To reach a level of $1000, AXS requires to grow at a rate of 139.08x keeping in mind its current price of $7.19.
Therefore, it should theoretically reach a value of $1000 within 2 months (keeping in mind its 74.33 times growth in one month). However, it is not the only factor to consider and it is not practical either.
One of the crucial reasons is the difference in macroeconomic and liquidity factors in recent times, compared to earlier times. It means that AXS cannot show a 74.33 times growth in one month, as opposed to the previous years.
Let’s consider its growth from February 2022 to March 2022 to have a relatively more practical approach to studying the price movements. Its price in Feb 2022 was $51.08 and in Mar 2022 was $71.66. meaning that it faced a 1.4 times hike in one month.
It means that to increase by 139.08 times (to reach $1000), it will need nearly 8.17 years, which is again possible only if the liquidity and macroeconomic factors remain similar to this year and if Axie Infinity continues to outperform its competitors.
Note that Axie is currently outperforming Sandbox in terms of the number of active players. Axie Infinity’s number of monthly active players is reported to be 680,144, in comparison to 200,000 players in the case of Sandbox. So, will Axie Infinity reach $1000? Certainly, yes, but not sooner.
Axie Infinity Price Prediction 2023, 2025 and 2030
Axie Infinity Price Prediction 2023 is $17.6
Axie Infinity Price Prediction 2025 is $36.3
Axie Infinity Price Prediction 2030 is $180
Axie Infinity Price Prediction Today
|1. Market's Wisdom||Positive|
|1a. Market Data||Partially Positive|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Partially Positive|
|2a. Social Media Buzz||Higher|
|2b. Social Media Sentiment||Neutral|
For all the latest Axie Infinity News and Announcements, follow this link
How to buy AXS Coin?
Axie Infinity is one of the best-performing metaverse tokens. AXS is the native token of Axie Infinity Network. It is built by Vietnam-based company Sky Mavis for trading resources earned in the Axie Infinity video game.
Like the rest of the tokens, AXS can be purchased by following steps:
- Choose a Crypto Exchange Offering Axie Infinity tokens
- Create your account with the Crypto Exchange
- Fund Your Wallet
- Buy AXS
- Store AXS in Crypto Wallet
Some of the exchanges offering AXS tokens for trade are 1. Binance 2. Uphold 3. Gate.io 4. Coinbase
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.