AXS Price Analysis July 2022

AXS is a token of the platform Axie Infinity. Its current price is around $14.73 by the time of writing, with a low of $10.48, and has a market cap of 1.2 billion dollars.

What is Axie infinity?

Axie Infinity is a blockchain-based game in which players buy digital monsters NFT, train them, and put them up to fight. They can earn SLP tokens during gameplay, which can be sold for money in exchange. Axie Infinity has developed a game on the Ethereum blockchain that pays players to play. Rather than money, Axie Infinity offers ownership of their in-game characters.

Users should also know that Axie Infinity was a target of a hack by the North Korean Lazarus Group which resulted in a loss of more than $600M. Sky Mavis(parent company) and Axie DAO raised funds to reimburse users.

What is AXS?

AXS is the token of the Axie Infinity platform, which is around $14.73 by the time of writing, with a low of $10.48. It reached a high of $165.73, and its current ranking is #42 according to CoinMarketCap, with a market cap of 1.2 billion dollars.

AXS Coin Market Analysis 

AXS has a total supply of 270,000,000 coins worth around $14.73 with a market volume of 182 million dollars, whereas the market capitalization is 1.2 billion dollars at writing. AXS is an Ethereum token that powers Axie Infinity, a game where players can battle and level up their pets.

AXS Price Prediction

AXS may be worth investing in 2022, given that many crypto investors are likely to consider it. The overall trend for the price this year has been negative, implying that it will rise again as the years go on and will reach new highs for costs, as recent predictions have shown.

On the 4H timeframe, the price action of $AXS/USDT works below the resistance trendline of the descending triangle chart pattern. Therefore, we have to wait for a successful breakout.

Axs Price Chart July 2022
AXS Price Chart July 2022

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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