Will Axie Reach $1000, $100?
Latest Axie Infinity Price
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Latest Axie Infinity News
- Axie Infinity $AXS is now listed on Binance Japan.
- The Axie Infinity meta report for the Early Rare Era (August 1, 2023) reveals a diverse meta, with Leafy being the most dominant archetype. The new Starter Axies, Momo, and Venoki are also making an impact. Topaz remains strong despite the nerf, while Sustain and Triple Owl are also viable. Hot Butt teams are gaining traction, and there’s some experimentation with Sandal.
Will Axie Reach $1000? What is Axie Infinity?
Axie Infinity is a blockchain-based game reminiscent of Pokémon and Tamagotchi, allowing players to battle, collect, and cultivate empires for their unique pets using non-fungible tokens (NFTs). Operating on a play-to-earn model, the game has garnered significant attention, especially in developing countries like the Philippines, Vietnam, and Brazil. Despite global economic challenges during the COVID-19 pandemic, the game’s token price experienced a remarkable surge, partly due to many Filipinos adopting it as an alternative income source.
Aiming for a decentralized platform, Axie Infinity has made strides since 2022, introducing “Town builders” and inducting Contributor Electors to foster community-led governance. With over 700 community members now participating in its inaugural pilot program, Axie’s governance structure is steadily evolving. Beyond being a mere cryptocurrency, AXS offers tangible utility within the Axie ecosystem, where token holders can stake to earn rewards and players can monetize their in-game activities, solidifying Axie Infinity’s potential for future growth in the blockchain gaming realm.
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.
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 is required 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.
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 level.
Overall, it is likely that Axie Infinity will reach $100.
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.