2021-7-16 17:47 |
On July 14, The Axie Infinity token AXS/USD surged in trading volume by more than 35% over the span of 24 hours during which Axie price gained 8%. In fact, Axie hit a new all-time high of $22, and it shows no signs of stopping so it is not too late to buy Axie Infinity in July.
The Growth of Axie InfinityAxie Infinity has over 250,000 active players, where the most expensive Axie ever sold was 300 ETH, and where over 90,000 ETH was traded in their in-house marketplace.
The most fascinating aspect about all of this is the fact that, while almost all other digital currency markets are currently down in value, this token is reaching new highs.
In fact, the entire platform has seen massive demand throughout the past few days, and other tokens within the gaming section of blockchain technology have seen buying pressure.
In order for you to be able to play Axie Infinity, you will need to purchase three Axie NFTs on the game’s marketplace.
This has, however, become a difficult task due to the fact that they’ve gotten up in value quite a lot.
The Axie Infinity Shards or AXS is the ecosystem’s own unique governance token.
It’s used to participate in key governance votes and gives holders a say when it comes to how funds within the Axie Community Treasury are actually spent.
Should you invest in Axie Infinity (AXS)?On July 14, AXS was $22.
This marked one of its new all-time highs when it comes to value, and it showcased no signs of stopping.
However, this might not be the only indicator we need to look at.
On July 1, it had its lowest value of the month at $5, and it saw another spike on July 7 where it jumped to $16. It, later on, fell back to $11 on July 9, only to kick back up to $19 on July 10.
This showcases just how volatile this currency is, and we can see a pattern where even when it fell in value, it kicked back up to speed.
Furthermore, data from IntoTheBlock shows us that AXS has had $41.62 million transactions greater than 100K within the last 7 days.
However, since this is a game, and players will indeed need to purchase three NFT tokens in order to play, the community is also an important aspect that we need to analyze.
The data shows us that it has an increase of 27% when it comes to new telegram members within the last 7 days.
This growth in users showcases growth in demand. The more players join, the more NFTs will need to be bought, so the demand of AXS rises and so does the value.
This being the case, getting AXS at $22 is a worthwhile investment as we can see the token growing to the $28 range by the end of July if it keeps up this pace.
The post Why invest in Axie Infinity (AXS) in July? appeared first on Invezz.
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