While the cryptocurrency market has been rising in recent days, Axie Infinity (AXS) is content to watch in a corner. The rally that started on October 25 was a bad date for the metaverse game.
Here is the news that reins in the price of Axie Infinity (AXS)
Most altcoins naturally experienced downward pressure due to the bear market. Others had a rough year due to hacker activities. Many DeFi projects were victims of this hacker activity. Axie Infinity (AXS), one of the victims of the metaverse market, lost $625 million in the Ronin hack last March. The AXS price then completed a long journey from $75 to $11.
21.5 million AXS unlocked
Axie Infinity announced via its official twitter account on October 25 that the team will eventually unlock a massive 21.5 million AXS for staking the platform, its team and advisors, representing 8% of its total supply. This caused panic among investors. Selling pressure has started for AXS as many expect the price to break $5. cryptocoin.com We have given the details in this article.
Aleksander Leonard Larsen, co-founder and COO of both Axie Infinity and Sky Mavis, highlighted that there are many misunderstandings about an imminent AXS token unlock that needs to be fixed. He tried to quell fear, pointing out that the unlocked tokens are different from the tokens currently in circulation. He went on to detail the facts in the tweet thread below. He explained that the token lock is just the usual program:
However, despite Aleksander Leonard Larsen’s best efforts, AXS was unable to evaluate the final rally. At #57 by market cap, Axie Infinity has not moved at all in the last 24 hours at the moment. It has lost more than 8% in value since last week. For comparison, almost all altcoins are currently rallying in double digits, including Ethereum. Axie Infinity, on the other hand, remained silent throughout the process.
According to data from CoinMarketCap, the AXS market cap currently stands at $861,069,398 after clearing nearly $200 million in recent weeks. Today, Axie Infinity remained stable, spending time in the $9.2 region. The 24-hour trading volume was $213,194,219. Despite the price drop, Axie Infinity is still one of the top metaverse projects with a total of 275,701 owners. As a result, despite all the negativity, it manages to maintain its position in terms of investors.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.