Axie Infinity has become one of the highlights of this 2021 as the NFT game rose to popularity, and gamers that played right were able to make a significant amount of money. The question is, does the $AXS price analysis support a bullish or a bearish $AXS?
Bitcoin Market Cycle
As of the moment, many opinions regarding the crypto market note that it is going to become bearish, and the short rise in prices could actually be just a bull trap. Mr. Whale explained back in July that despite the bull trap, there are still a lot of traders that believed that Bitcoin was still in a bull market.
Mr. Whale then noted that the fake-out rallies everyone to start losing their minds over what was noted as very "common" in bear markets. Mr. Whale then noted that the same sight was present almost every month during the 2018 Bitcoin bubble.
Although Axie Infinity or $AXS is an altcoin, the market cycle of Bitcoin is known to have an effect on the whole market. When the market was extremely bearish just a few months ago, the price of most altcoins was affected. Although not all altcoins functioned bearish during Bitcoin's bearish cycle, it is important to do your own research or DYOR to really tell if Axie Infinity will be affected.
As of the moment, however, gamers are celebrating a new update that brings down the cost of breeding from two $AXS tokens to one. Axie Infinity just recently announced the update on their Twitter page, noting that although the cost of AXS per breed will decrease, the cost of SLP will increase.
Check out the new SLP cost per breed:
1 Breed would need 600 SLP
2 Breed would need 900 SLP
3 Breed would need 1500 SLP
4 Breed would need 2400 SLP
5 Breed would need 3900 SLP
6 Breed would need 6300 SLP
7 Breed would need 10200 SLP
The cost noted above, as seen on the official Axie website, was said to be the total cost per breed, as the first breed would require 300 SLP per parent. In an FAQ section that asks if Axie Infinity is sustainable, the page gives a beefy reply.
Axie Infinity Breeding Fee Update
According to the page, the Axie economy still needs to be balanced by actually rewarding the players' immediate efforts with supporting the game's long-term plan for community growth. It was noted that there are still some considerations that can be quite hard for some of the community members to be able to grasp, especially if they are new.
Axie notes that they need tens of millions of Axies for the future on-boarding rush which is expected with the launch of their Ronin Dex as well as Battles V2. The website itself notes that they will be having a situation in which the price of SLP will surge initially to meet demands but then crash back down to normalize SLP.
An article by CoinQuora gives a loose expectation of the future AXS price prediction.
- 2022 - AXS price prediction will reach $200
- 2023 - AXS price prediction will reach $350
- 2024 - AXS price prediction will reach $500
- 2025 - AXS price prediction will reach $720
Of course, it is still important to DYOR before investing in AXS or in Axie Infinity.
This article is owned by Tech Times
Written by Urian B.