Topic: Why does AXS continue to increase in the market while others experience dumps? - page 2. (Read 198 times)
October 05, 2021, 07:12:50 AM
Aside from the fact that axie is a play to earn project which seem to be the raining thing now in the crypto space, I think the hype on this project is genuinely high, because am not sure the demand of users on the platform is enough to pump the price this crazily high, it remained me of sol pump, unfortunately am not always lucky to hold this type of coin that will go parabolic, axie infinity has large community support too.
October 05, 2021, 02:29:29 AM
There is also news that a fund owned by famous venture capitalist Andreesen Horowitz will lead the series B funding for Axie Infinity worth $150 million. This recognition from Andreesen Horowitz is valued more than the money invested, I reckon.
Axie Infinity to Raise $150M Series B at $3B Valuation: Report A16z will lead the funding round, according to The Information, which cited two unnamed sources.
Source https://www.coindesk.com/business/2021/10/04/axie-infinity-to-raise-150m-series-b-at-3b-valuation-report/
Also, the demand to play on Axie Infinity continues to increase in Asian countries and across all age demographics. Is the game really very good? Why is everyone addicted?
Axie Infinity to Raise $150M Series B at $3B Valuation: Report A16z will lead the funding round, according to The Information, which cited two unnamed sources.
Source https://www.coindesk.com/business/2021/10/04/axie-infinity-to-raise-150m-series-b-at-3b-valuation-report/
Also, the demand to play on Axie Infinity continues to increase in Asian countries and across all age demographics. Is the game really very good? Why is everyone addicted?
October 04, 2021, 10:12:57 PM
The demand for using and interested in AXS is increasing, I see that the epidemic is contributing to promoting the development fields in this direction, which have received a lot of success recently. But honestly, it is helping players generate very good income in difficult times like the present.
October 04, 2021, 08:43:48 PM
They've announced staking recently, it may have allured more gamers to invest. The last time it dips, many users managers wanna be are buying characters for only 0.1ETH which is cheaper than the usual. Now they have more investors.
If you think this is hype, it may still be when the bear market starts, it's yet not known when to happen though and by the time maybe you will all see those stakers are going to unstake to sell for a low price.
October 04, 2021, 08:14:19 PM
This is one of the best examples of a project that is following and sticking to their roadmap.
As you can see on their whitepaper, they have this roadmap and everything is aligning especially this staking part of AXS which is for Q4 of this year, so they delivered it and for sure this is one of the reasons because of pumps and yesterday, they have this some leak about V2 of battle, which kinda another next level especially for user interface and more updates about the game.
As you can see on their whitepaper, they have this roadmap and everything is aligning especially this staking part of AXS which is for Q4 of this year, so they delivered it and for sure this is one of the reasons because of pumps and yesterday, they have this some leak about V2 of battle, which kinda another next level especially for user interface and more updates about the game.
October 04, 2021, 05:26:44 PM
Overall the market is still bullish, take a look at the big picture and see the last 7 days' performance of the top 100 altcoins and you will see it as positive or bullish. https://coinmarketcap.com/
Axie Infinity or AXS has achieved its ATH, it's normal in the bull run and this project is really hype right now, so it's expected that it will happen and those who were able to ride it should be happy now, but actually this is normal in crypto, some coins go up, some goes down, it's called volatility.
Axie Infinity or AXS has achieved its ATH, it's normal in the bull run and this project is really hype right now, so it's expected that it will happen and those who were able to ride it should be happy now, but actually this is normal in crypto, some coins go up, some goes down, it's called volatility.
October 04, 2021, 03:01:14 PM
It is living a very independent life because it is providing income for people. If you own 12 axies, there is no reason why you should not own 15, if you own 15 there is no reason you should not own 18. This causes people to buy as much as hundreds of axies, and in order to breed axies you need to have AXS as well. This means people are breeding their axies like crazy to own more and more of them. And since the price of AXS goes up, the value of their axies goes up as well.
People also try to breed good ones to create even better ones or at least another good one, because if you spend 200-300 dollars on creating one, but get a good one that worths 500 or even more then you make a great profit, if you do not and it is a horrible one you can still sell it for a small profit, or at least break even. This is why people know that there is no loss in axie world unless you do something very idiotic, and why would anyone drop the price of something by selling a lot if it is making them a profit?
People also try to breed good ones to create even better ones or at least another good one, because if you spend 200-300 dollars on creating one, but get a good one that worths 500 or even more then you make a great profit, if you do not and it is a horrible one you can still sell it for a small profit, or at least break even. This is why people know that there is no loss in axie world unless you do something very idiotic, and why would anyone drop the price of something by selling a lot if it is making them a profit?
October 04, 2021, 02:16:58 PM
You are right that there is usually a correlation between Bitcoin’s price and prices of altcoins, but there can be exceptions. As there is a hype around NFT-gaming now, and Axie Infinity is one of the most successful examples of such NFT-games, demand is still high and it supports the price!
But when the hype is over, it will also dump as investors will abandon this sphere.
But when the hype is over, it will also dump as investors will abandon this sphere.
It is currently indeed one of the best blockchain games out there, but I wouldn't buy any AXS right now. Price has risen already way too much thanks to the hype but when it falls back (and it will), than the dump will be severe. We have seen the same with TLM (from Alienword), that also got hyped massively at a certain moment but the hype was short lived.
October 04, 2021, 12:40:42 PM
You are right that there is usually a correlation between Bitcoin’s price and prices of altcoins, but there can be exceptions. As there is a hype around NFT-gaming now, and Axie Infinity is one of the most successful examples of such NFT-games, demand is still high and it supports the price!
But when the hype is over, it will also dump as investors will abandon this sphere.
But when the hype is over, it will also dump as investors will abandon this sphere.
October 04, 2021, 12:09:34 PM
Actually not all ALTcoin goes down when it happens that BTC declines, we have gainers and losers in CMC so most time when market is dip those currencies gain strength while others follows the dip.
Here solve your questions https://coinmarketcap.com/gainers-losers/
Here solve your questions https://coinmarketcap.com/gainers-losers/
October 04, 2021, 07:38:02 AM
The question is whether this is a trap or just an increasing buy demand?
Coin/token goes up while another dumps, usually because the project is getting good news. So market conditions have no effect on the token.
October 04, 2021, 07:21:03 AM
The question is whether this is a trap or just an increasing buy demand?
Coin/token goes up while another dumps, usually because the project is getting good news. So market conditions have no effect on the token. 
October 04, 2021, 06:03:07 AM
The question is whether this is a trap or just an increasing buy demand?
You must do a deep research before try to think if that was a trap. AXS has limited supply and AXS was not getting affected by bitcoin. This is a common thing if there was a coin that can stand without the help by bitcoin. This was the main reason. The buy demand was increasing a lot as the staking for AXS already started with great APY. People are rushing to buy AXS to be staked into the AXS (ronin) network https://stake.axieinfinity.com/The total value locked on the AXS staking was increasing a lot since a few days ago. We can expect if more coins were coming from the circulating supply in the market.
This is making the value was increasing a lot.
October 04, 2021, 05:29:21 AM
Usually when Bitcoin declines or dumps by a few percent, almost all Altcoins also experience the same thing, but I found a surprising thing today where AXS continues to increase in price up to 40% which seems to have no connection or influence from Bitcoin decline.
The question is whether this is a trap or just an increasing buy demand?
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