In 2021, the Axie Infinity game had its “golden rush.” The story was spread to the general public thanks to the mainstream media. When everyone hopped on the P2E bandwagon, the AXS token experienced incredible growth. However, the token’s value substantially decreased when the crypto crash occurred. Today, cryptocurrency prices are consolidating as Bitcoin stabilizes around $17,000. However, AXS prices increased by more than 30% in the past week alone. Is this the start of a renewed uptrend? Will AXS reach 100 $ in 2023? Let’s assess in this Axie Infinity price prediction article.
What is Axie Infinity?
Sky Mavis is a technology-focused gaming studio that was established in early 2018 and is the creator of Axie Infinity. Pokemon and Tamagotchi video games served as inspiration for the entire Axie saga. Axie Infinity is categorized as an NFT game that enables players to get money by participating in game-related activities such as breeding, racing, combat, and trading Axie animals. The goal of Axie Infinity was to serve as an entertaining and educational means to expose blockchain technology to the general public. Many of the programmers and team members got to know one another through the Cryptokitties website, which led to them working on the Axie game and educating gamers about the wonders of blockchain technology.
Axie Infinity Coin: What is AXS?
AXS is the governance token. Those tokens allow their holders to earn a slice of the Axie universe as they’ll have governance rights and fee-sharing built into it. Players can earn this token by… simply playing!
How to Buy Axie Infinity AXS?
AXS tokens can be bought on more than 50 exchanges. However, it is important to choose solid exchanges. The latest FTX crash showed how important is it to choose the right broker. Centralized exchanges are still the gateway from legacy finance into blockchain tech. We at CryptoTicker recommend the following trusted exchanges:
How to Stake Axie Infinity Token AXS?
There are many exchanges that offer AXS staking. Binance is a crypto exchange that offers AXS staking. They currently offer a “Flexible” return of 12% and a “90 days” locked account for 52.9%.
Axie Infinity Price: Why is AXS Down in 2022?
Cryptos had a dismal year in 2022. Though some years are bullish and others are bearish, it’s all part of the game. Nothing rises without descending again. AXS lost more than 90% in 2022, dropping from a high of $1.3 to its current price of $0.32.
“Oh no! Cryptocurrencies are incredibly erratic! Check out Facebook’s pricing share, then. In 2022, the price of Facebook shares dropped by more than 65%, much as the price of Credit Suisse. The unfavorable price of AXS was caused by a number of fundamental events such as the war in Ukraine, the economical instability in the world, and most recently, the FTX crash.
Axie Infinity Price Prediction: Will AXS reach $100 again?
The native token of Sky Mavis’ play-to-earn blockchain game Axie Infinity is called AXS. The AXS token may be exchanged for game goods to be purchased and is used to breed creatures in-game. Since reaching an all-time high of $166.09 in November 2021, the AXS price has decreased inside a lengthy downward parallel channel.
We currently reached the very bottom of the trend, as AXS looks for a trend reversal. However, this is only doable if a short-term consolidation occurs. In addition to that, we need to see a positive outlook in the crypto market. Once that’s done, we can hope for an AXS comeback.
Reaching the $100 price mark is a bit far-fetched, especially in the medium term. This might be achievable towards Q4 2023 or even in 2024. This is when the crypto market should be on its uptrend once again.
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