The host of popular crypto channel Coin Bureau, Guy considers the hit online video game Axie Infinity (AXS). Then, gives predictions on its rally.
“Cryptocurrency has made it clear that play-to-earn is the future of gaming…”
“Creating a sustainable play-to-earn ecosystem is not an easy thing to do, however.”
More so, Guy notes,
“The only crypto project that has managed to pull it off so far is Axie Infinity,..”
“and it has consequently amassed over two million monthly users and counting…”
“AXS is crypto’s top gaming coin.”
Currently, AXS records over 25,320% this year from $0.53 on January 1st to its current price of $134.73.
“Axie Infinity’s updates have taken AXS to new all-time highs…”
“AXS is in a very strong uptrend and it looks like new all-time highs are ahead.”
Then, Guy adds,
That said, Axie Infinity’s market cap is quite large, and this means it’s going to take a lot…”
“more money to push up its price than it did before. At the same time,…”
“AXS stakers are earning handsome AXS rewards, and it’s very likely that some of them are selling.”
More so, Guy highlights the implications of Axie’s vesting schedule. Notably, this is about how a project locks and releases tokens to ensure its long-term viability.
Then, Guy explains.
“The vesting schedule for AXS is quite aggressive compared with other…”
“cryptocurrencies, and it’s likely that some of Axie Infinity’s early investors are taking profits, too.”
So, Guy continues.
“This is to be expected, given that the ICO (initial coin offering) price for AXS was just 10 cents.”
“That means many early investors are sitting on at least a 1,000x. In terms of numbers,..”
“it looks like around 10 million AXS have entered circulation since July.”
Lastly Guy notes that the game’s growing popularity means the AXS token will still grow in price. Of course, this is despite any sell-side pressure from profit takers and small time investors.
“The good news is that this increase in sell pressure is being offset by the continued…”
“adoption of Axie Infinity, which is creating a lot of demand for AXS…”
“With some luck, AXS will pull another 2x before the crypto bull market is over.”
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