Popular crypto game Axie Infinity AXS token gained good popularity in the circles of large Ethereum whales and managed to get into the top 10 most bought assets in 24 hours according to WhaleStatistics portal. The average purchase was 167 tokens or $2646.
It is unlikely that large ETH holders decided to play Axie Infinity at the same time, which means that the purpose of these purchases is to generate good potential profits. This idea correlates particularly well with the fact that the AXS has lost over 90% in price from its all-time high of $160. In the cryptocurrency market, a price adjustment between 75% and 90% is considered a good time to take a position. Apparently it’s time for AXS.
As can be seen from the chart, AXS quotes, following the entire cryptocurrency market, made a well-known movement in early June and ended up in a narrow price corridor with its lower border at $12.35 per token.
In-game crashes undermine the credibility of Axie Infinity
This does not mean that Axie Infinity is doing well. The game recently came under fire when it was revealed that many players were abusing the in-game mechanics by using multiple phones and accounts at the same time. As a result of these shenanigans, another SLP token game has emerged.
At the same time, many note that Axie Infinity still has a chance for the future, especially in the field of eSports, as the time to find an opponent still involves a large number of players.
Credit : u.today