Is Axie Infinity a good investment? What will it be worth?
Is Axie Infinity a good investment: Changes in the runes, charms, cards, and mechanics will be rolled out on December 14th, which will be focussed on making Season 2 more competitive?
The current price of AXS is
Latest Updates-7th December
The current market price of AXS, at the time of writing, is $8.96 and is up by nearly 6.45% in 24 hours. Its price 7 days ago was $6.85 and hence, has hiked by 23.54% in a week.
Below attached is its Google trends data, indicating that people are actively searching for Axie Infinity in the past day, but the search rate has decreased by 18 points in a single day.
Image: 24-hours Google trends data
Reddit community discussions- 7th December
In a recent discussion regarding AXS’s price recovery, there are mixed opinions from different users on Reddit. One user believed that AXS’s price is recovering because of its new series of updates.
While, another user wrote, “No it’s just going to crash again”. One comment says, “Niceeeeeee….staking it for 70%. Can’t wait for the bull”.
Axie Infinity is building Axie Core
Axie Core is the eternal Axie experience which is not tied to any specific game but aims to strengthen the bond between Axies and the users.
It includes Equipping accessories, upgrading parts, breeding, downloading an avatar and axie raising. Equipping accessories (i.e., cosmetic pieces) can help the users to add more attachments to their axies.
Axie Core is launched with the aim to provide a link between collectability and play. Axie’s this step will certainly help it move near to its ultimate goal.
Interesting Reddit discussions
The AXS’s price is increasing for a day and it is now in the headlines too. In the latest discussion on Reddit regarding the price hike of axie Infinity, most of people believed that its price is still far below its worth.
One user wrote. “AXS was $150 it’s now $8.50 Calm down”.
Axie is on its way to progressively decentralising the platform
At the beginning of the year, Axie shared its aim to progressively decentralize the network. It aimed to work towards an end-state where the community members can make resourcing decisions around its ecosystem.
The ultimate goal of the Axie was to advance the community’s mission via self-organisation.
Note that Axie Infinity has made progress to fulfil its aim since May 2022. It built a “Town Builder” in May i.e., established community members with a history of governance contributions. Later in July, Town builders brought in the Contributor Electors to design and execute the pilot program.
Since then, 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 newy created “Governance” section in the Axie Infinity Discord.
Axie Infinity has seen an increase in the $AXS holders
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.
Is Axie Infinity a good investment: Axie Infinity updates
Axie Origins started its road to Season 2 on November 23rd. Note that the season was aimed to roll out in various stages for the purpose of ensuring a smooth process. Below attached is the tweet highlighting the various stages of S2:
Image Source: Twitter
With season 2, Axie origins will have new mechanics such as Keep, Energy Burst and Bloodmoon tweaks. This season will also focus to create specific playstyles for every class by making changes to the cards, runes and charms.
Is Axie Infinity a good investment: Why is Axie Infinity down?
The declining number of players
Note that Axie’s number of active players 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 Ronin bridge hack in March 2022. Since the Ronin network has seen a network breach, the number of active players is falling. Therefore, it is one of the reasons behind the falling prices of AXS.
Unlocking of AXS tokens
According to the reports, Axie Infinity released 10 million restricted tokens to investors and insiders in late October. It was its first batch, which was a part of its $200 million unlocking event.
After the expiry of the vesting period (the time when investors cannot sell their investments for a certain period) in October 2022, investors were free to sell their AXS tokens. This is therefore another probable reason behind the falling prices of the token.
Fed Rate Prediction
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.
According to the latest press release, there can be another hike in the de rates. Although the final decision will be made on December 14th, there are a lot of data that favors the hike in fed funds rates. Let’s explore.
Let’s first discuss November’s inflation data of the U.S. According to the forecast, inflation will continue to rise, which can result in a 75-basis point hike in the fed rate. Another factor is the job market i.e., the employment situation in the country.
Recent reports say that in October 2022, U.S. employers hired more employees than required and the job market is stronger in 2022 than expected. According to the news release by BLS, the total non-farm payroll employment increased by 261k in the month of October. Note that for the purpose of squeezing liquidity, U.S Fed aims to maintain a 7.5% unemployment rate, and currently it is 3.7%. It means that there are the highest chances of a hike in fed rates.
How is the increase in fed funds rates going to affect Axie Infinity?
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.
In case, more people cut back and sell their AXS tokens in this scenario, the prices of the crypto will continue to remain low.
Is Axie Infinity a good investment: Axis Infinity Price Prediction Today
|Overall Outlook||Partially Positive|
|1. Market's Wisdom||Partially Positive|
|1a. Market Data||Neutral|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Neutral|
|2b. Social Media Sentiment||Neutral|
Axie Infinity Coin Price Prediction And Forecast: 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.