One of the popular channels of the crypto world Coin Bureau In a new video he recently released, the popular online video game Axie InfinityHe discussed whether AXS (AXS) could make more earnings after hitting dazzling highs this year.
The analyst, known by the nickname “Guy”, stated that the “play-to-win (P2E)” game, which also hosts the non-changeable token (NFT) market, currently dominates the P2E space as well.
“Cryptocurrencies have clearly proven that play-to-play is the future of gaming. However, creating a sustainable play-to-win ecosystem is quite a challenge.
The only crypto project to achieve this so far is Axie Infinity, and as a result it hosts over two million monthly users and that number continues to grow…
AXSis the best gaming coin in crypto!”
AXS has managed to rise over 25.32% from its price of $0.53 on January 1 to its current price of $134.73 this year. Even after the staggering rise of the gaming altcoin, Guy thinks AXS can still rise.
“Axie Infinity’s updates have pushed AXS to all-time highs… AXS is in a very strong uptrend and it looks like all-time highs are ahead.
However, the Axie Infinity’s market cap is quite large, which means it will take a lot more money than before to raise its price. At the same time, AXS shareholders are earning nice AXS rewards and it is quite possible that some of them will sell them.”
Guy also touched on the impact of Axie’s vetting program, expressing how a project locks and releases tokens to ensure its long-term viability.
“The vesting program in AXS is quite aggressive compared to other cryptocurrencies and it is likely that some of Axie Infinity’s early investors continue to take profits as well.
AXS This is quite possible, given that the ICO (initial coin offering) price for the ICO is only 10 cents. This means that many early traders are earning at least over 1000x. In terms of numbers, it looks like around 10 million AXS have been in circulation since July.”
Guy concluded his analysis by saying that the continued popularity of the game means that the price of the AXS token is likely to rise, despite any selling pressure from profit takers.
“The good news is that this increase in sales pressure is offset by continued adoption of Axie Infinity, which has created so much demand for AXS. With a little luck, AXS could rise 2x before the crypto bull market ends.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.