![]() ![]() Not all crypto coins have a maximum supply, AXS is one that does. I don't think we've found a bottom yet in this coin. Taken with the token supply metrics, I think AXS is a serious avoid even with the recent rise. The market demand for the in-game Axie Infinity assets is concerning enough. Still a far cry from the 48k during the 2021 summer months. ![]() There were 6,078 new Axie accounts in November - up from 3,449 in October. However, November did produce a noticeable bump in new user accounts. The demand for the NFTs is simply not there any longer. Axie hasn't cumulatively done that much in sales in the last 7 months and hasn't produced more than $41 million in a single month since February 2022. On November 4th 2021, Axie did nearly $41 million in sales in one day. There were times during the bull run when Axie Infinity was doing 8 figures in daily sales. When we look at the bigger picture, we can really get a sense for how depressed the Axie Infinity NFT market actually is: I want to actually show the short term trend of the sales volume. And to be clear, the above chart is zoomed for a reason. That was actually below the volume from Sunday and well beneath the average from the last three months. On Tuesday, there was $33,500 in total sales volume for the day. Measured in USD the daily sales volume for the Axie NFTs is still nearly at the basement. Despite the Axie Core roadmap update and AXS price pop, we've yet to see that excitement reflected in the actual in-game assets: Because AXS is used as an in-game currency, it's important that there is demand for the in-game NFTs to justify a bid on the AXS coin. ![]() One of the things that I generally look for in any crypto token is strong supply/demand dynamics. While the market took the opportunity to bid the coin, the actual NFTs used for the gameplay have seen very little action. The market response to this news was very favorable and saw AXS rally from $7 on Sunday to over $9 Tuesday. Only by harnessing unique game loops and mechanisms, that merge collectibility, ownership, and economics with amazing and immersive gameplay can we once again define the path forward for this nascent industry. On Monday, the Axie Infinity team detailed the vision for "Axie Core." The roadmap for the future included details on character accessories, breeding, and avatar pictures with an emphasis on collectability to generate an emotional attachment to what is essentially the Axie Infinity brand: But beyond just rallying with other metaverse coins, Axie Infinity has created some buzz in the crypto market because of an update to the project's future roadmap. I've detailed why I think APE is a sell here. There is some element of excitement in the market because of ApeCoin ( APE-USD ) staking going live this month. Why Is Axie Infinity Rallying?ĪXS isn't the only metaverse/NFT coin that has been rallying over the last week. In this article, we'll explore what has likely caused the price increase in AXS, the supply dynamics of the AXS currency, and the market activity for the in-game NFTs. It has also served as something of a proof of concept model for other play to earn projects like STEPN ( GMT-USD ), among others. Axie Infinity is notable because of its immense success during the 2021 crypto bull run. Fundamentally, Axie Infinity is a Pokémon-like game that utilizes public-blockchain NFTs and the AXS currency both can be used as in-game assets or swapped outside of the Axie Infinity ecosystem. When you return to the cookie will be retrieved from your machine and the values placed into the calculator.Axie Infinity ( AXS-USD) is one of the original play-to-earn crypto games. Pressing the button will place a cookie on your machine containing the information you entered into the Holdings Calculator. If your browser is configured to accept Cookies you will see a button at the bottom of the Holdings Calculator. The spot price of Gold per Troy Ounce and the date and time of the price is shown below the calculator. Totals for Gold and Silver holdings including the ratio percent of gold versus silver will be calculated. The Current and Future Gain/Loss will be calculated. Optionally enter number amounts for Purchase Price and/or Future Value per unit of weight chosen. The Current Value for the amount entered is shown. The current price per unit of weight and currency will be displayed on the right. If you wish to select a currency other than USD for the Silver holdings calculator. NOTE: You must select a currency for gold first, even if you don't enter a value for gold holdings. Select Ounce, Gram or Kilogram for the weight. The Holdings Calculator permits you to calculate the current value of your gold and silver.Įnter a number Amount in the left text field. ![]()
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