Axie Infinity (AXS) is back to a lower tier under $75, facing the need to recover lost ground. AXS managed to hold close to $100 for weeks before a series of flash crashes took down all assets. AXS now has the chance to move along with chances of market recovery.
AXS traded at $72.99 after a brief hike to around $74, so far stalling as major assets slowly moved up from their lows. AXS has a long way to go, as it erased more than 21% net from its value, sinking deeper in comparison to other play to earn tokens.
The entire play to earn market is slightly recovering, marking $24B in market capitalization.
AXS Price Prediction: Coin Regains Appeal in Asia
ASX is regaining its appeal among Asian players and investors, as shown by CoinGecko activity statistics.
Axie Infinity is setting the pace for more upgrades in 2022, with land plots available and an improved Smooth Love Potion (SLP) staking and earning schedule.
AXS Price Prediction: Network Growth Continues
For Axie Infinity, signs of wider adoption are lagging in comparison to other currently hot play to earn projects. But the Axie Infinity addresses are also showing signs of robust growth.
Part of the reporting problem may be coming from the adoption of Ronin Network for the Axie Infinity game. Ronin Network is yet to launch its RON asset and set prices, but the launch may also boost AXS.
AXS Price Prediction: How High Can AXS Go
AXS attitudes remain bearish, despite only 4% of buyers being out of the money. One of the reasons is that the price of SLP remains depressed at under $0.02 with no signs of stemming the outflows.
Low SLP incentives and a glut of Axie characters means less appeal to players. AXS failed to fulfill the $150 predictions for year-end prices in 2021, and may have difficulties reaching $300 valuations as predicted during more hot price action periods in Q2 2021.
Axie Infinity is still the most widely engaged community, with the potential to positively affect prices in the coming months as one of the still most widely known play to earn games.