Axie Infinity Shards (AXS) is a governance token used in the Axie Infinity game — the hottest blockchain game of the summer of 2021. The creators of Axie Infinity claim that its purpose is combining work and play — meaning that the players can earn real-world rewards while having fun.
Axie Infinity is a game inspired by Pokemon and other titles like it. Players start by purchasing Axies — the creatures that can breed, get ability upgrades and fight against other players’ Axies. There is a wide variety of body parts that a player can choose to add to their Axie and evolve it, so there are some unique and valuable builds out there. Every Axie is an NFT token and can be traded with other players or sold — the most valuable ones selling for upwards of $820,000. A player can also build the environment for their Axies, such as purchasing land, which is also tradable. To get more unique combinations, Axies can be bred, which requires the second token circulating in the game — Smooth Love Potion (SLP). Those tokens are earned in battles as experience points.
AXS token is used for governance of the Community Treasury. Players’ tokens must be staked to participate in the voting process, which also allows them to earn rewards. AXS is also the main currency of the Axie NFT marketplace.
During the first half of 2021, AXS token price followed the crypto market trend spurred by the Bitcoin rally, growing from $0.5–$0.6 in January to over $10 by April and then going down to ~$4 at the beginning of the summer. However, while the market has generally been staying low since the May crash, Axie Infinity Shards price has been experiencing unprecedented growth in July 2021, surging first to $28.6, then dipping briefly to ~$14.2 (still higher than any previous highs) and then soaring even higher, breaking a few possible resistance lines with no sign of stopping. On July 27, AXS token price reached a new all-time high of $53.28. This growth may be possibly prompted by Axie Infinity game migration from Ethereum to its own sidechain, as well as the network effects making its user base grow exponentially. In any case, AXS having its price continually trending up since the beginning of 2021 through the summer makes it a fairly unique player in the crypto world and a very interesting project to watch.
Despite the fact that 100% accurate technical analysis for Axie Infinity cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated AXS buy-and-sell rating for selected timeframe. The summary for AXS/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for Axie Infinity (AXS) from popular forecast platforms.
According to WalletInvestor, Axie Infinity price will grow from $41.85 to $67.320 in one year. That makes AXS an awesome investment. The long-term earning potential is 60.86%. Predicted price for the end of 2026 is $173.325.
Answering the question about if Axie Infinity is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $45.386 with a growth to $82.279 by the end of 2022.
In DigitalCoin analysis, the price of Axie Infinity cryptocurrency will rise in the next 5 years starting from $42.0553 as of today’s price to $161.1579203. It will go up to $71.2635566 by 2022 and continue its growth in 2023–2024. Based on this forecast, Axie Infinity is a profitable long-term investment.
In 2021, the average Axie Infinity price will go up to $46.24. In 2022, Axie Infinity’s price will rise significantly to an average of $68.2304167.
As it can be clear from the analysis cited above, Axie Infinity (AXS) projections are rather contradictory. There is no universal consensus either about positive or negative future AXS price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Axie Infinity projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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