Between 74-89% of retail investor accounts lose money when trading CFDs. We may receive compensation when you click on links to products we reviewed.ĮSMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. To learn more visit our Investing in Axie Infinity guide.Īdvertiser Disclosure: Securities.io is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. However, if this behavior is any indication, then Axie is bound to skyrocket as soon as the bearish part of the cycle officially ends, and the bulls come to take over right away, which might make Axie one of the best investment options right now. Now, with the prices attempting to surge again, it appears that the bear market might be taking another small break. It happened in mid-January, then again in mid-February, and then once more in late March and early April. The coin broke a number of supports in the past 7 months, but whenever the bear market made a small break, AXS would immediately attempt a recovery. The token saw its own losses, dropping from $95 in early January to the current $16, which is not even its lowest price this year. Of course, Axie could not single-handedly resist the bear market that was strong enough to take Bitcoin from $68,000 to under $20,000 in less than 6 months. Since then, AXS gained 45% to its value, and it is believed that Axie still has enough strength left to keep pushing further up. As one of the most notable metaverse and blockchain gaming projects around, its token became one of the top 10 most purchased cryptos that managed to capture the interest of Ethereum whales. This, in turn, allowed multiple projects to survive the bearish wave, at least for the time being.ĭuring the crypto market recovery, Axie Infinity saw significant inflows from Ethereum whales, as it managed to maintain its position as one of the largest representatives of GameFi.

Experts believe that this happened due to the recent rise of GameFi, which actually took the least amount of damage after the start of the bear market.ĭeFi and NFT sectors were not as lucky, but GameFi managed to keep relatively steady levels throughout this year. If this happens, it will represent a nearly 100% increase from where the token sits at the time of writing. What will happen next is still unclear at this time, but some assume that the project might use the former resistance as a way to launch itself back up towards the next barrier on the chart, which would be at around $35. Earlier, the project bottomed at $12.4, but the most recent bull run allowed the token to successfully break out of the 50-day EMA resistance level. Axie Infinity’s tremendous potentialĪccording to the experts, the token managed to form a higher low, which was taken as the first big indicator of a potential trend reversal. The AXS token’s value peaked at $18.73, but then it corrected to the current price of $16 in the second half of Sunday and early Monday. Axie Infinity blew up over the weekend, with its price on Friday evening dropping to nearly $15, only for it to skyrocket throughout Saturday and early Sunday.

Axie infinity token