Metaverse and gaming tokens haven’t had a simple March. The tokens have misplaced massively from 2022 highs. However it appears the month might finish on a excessive. Axie Infinity (AXS), one of many main gaming and metaverse tokens on the earth, has been surging in current days. Listed below are some particulars:
-
AXS has gained over 20% over the past 24 hours or so.
-
The transfer got here after the sport’s developer introduced new adjustments on governance.
-
The surge pushed AXS to a brand new two-month excessive.
Information Supply: Tradingview
Axie Infinity (AXS) – The outlook
The long-term outlook for Axie Infinity (AXS) has typically been fairly constructive. The volatility of the previous couple of weeks is barely a bump in what is predicted to be an incredible 12 months for AXS. The important thing now will likely be to observe how the coin will sustain the momentum.
Hitting a 2-month excessive is an enormous factor, particularly when you think about simply how far AXS had fallen. However AXS shouldn’t be the one blockchain gaming token rising. The truth is, after information broke that FTX and PUGB have been stepping into crypto gaming, virtually all Play-to-Earn tokens noticed main good points.
However AXS stays the stand-out performer with a 44% achieve for the week. We anticipate this bullish surge to take care of a minimum of in every week or so earlier than it retreats.
Is Axie Infinity (AXS) nonetheless an excellent purchase?
There have been a whole lot of fears that maybe AXS could have misplaced its momentum. After dominating GameFi in 2021, the NFT impressed sport has continued to face elevated competitors from different newer video games.
However regardless of this, we anticipate Axie to proceed taking part in a key function within the GameFi sector. As a long-term asset, it’s going to provide regular and respectable good points for traders. The largest draw back danger is a lower in energetic month-to-month gamers resulting from different entrants in GameFi.