Why does AXS continue to increase in the market while others experience dumps?

Oceat

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Quote from: doomloop on October 09, 2021, 04:12:38 PM

SLP price keeps dropping though? It is around 8 cents right now. That means an average person makes 8 dollars per day if they grind it every day. Which is not bad don't get me wrong, that is 240 dollars per month, but this was a lot more. AXS is still high but SLP drops which is a problem for the axie community.

I do not know which one will break first, either SLP will go up as well just like AXS and make it valuable with each other. However if AXS breaks and it goes down because people are not making as much profit as they used to, then it will be a doomsday for the people who are playing the game for profit. I never liked the "game" part of it anyway, I really hope something much better comes up.

It's probably the SLP will going to break first since it's obvious as you can see the price keeps dropping while the AXS is yet in a healthy state and I think it's because of the NFTs that they are selling that's why the AXS price is still going on while the SLP is not that profitable unlike before when it was in the trend.

I don't know if some people would still be giving some money on the game it the SLP price is dropping. And I think it's probably because of the breeders that's why AXS is still not dropping like what happened to ALS token. Devs are constantly changing the rules of the game to be able to maintain the stability of the game since most people are only after the ROI then pulling out their money which is not healthy in the Axie Community.

geegaw

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Quote from: SlimShadyMmp on October 08, 2021, 06:00:33 PM

Simple play to earn community and niche I think Different sectors in crypto are beginning to show their emergence point and the gaming ecosystem where axie belongs is growing so fast and with play to earn mechanism I think is easy to see why it grow Dont forget esport where gaming is wild more wild than some business People invest so much on characters and game play I think same think is happening in crypto and is may see great variety of p2e game on the horizon soon

Sports games and games that compete and fight against each other, the community of players pouring money into the character is an indispensable piece of code for players and producers, reducing the complexity plus enhancing the character's strength is the desire of the player while this piece of code is the developer's revenue supplement. However, AXS is not such an example, this game product cannot compete with the leading game companies in terms of value items as well as the level of player harmony, the increase in AXS just alludes to the topic of earning in-game earnings that is stirring up and creating a lot of public opinion spirals

tbct_mt2

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Quote from: doomloop on October 09, 2021, 04:12:38 PM

SLP price keeps dropping though? It is around 8 cents right now. That means an average person makes 8 dollars per day if they grind it every day. Which is not bad don't get me wrong, that is 240 dollars per month, but this was a lot more. AXS is still high but SLP drops which is a problem for the axie community.

What is the connection between SLP and AXS?

I see potential of growth from SLP on the price chart but I fail to see the connection between SLP and AXS. Did I miss something?

Why the fall of SLP is a problem of Axie community?

Quote from: Johnyz on October 09, 2021, 04:33:57 PM

There’s no new way yet to Burn SLP, so I will see its price to remain on the price of $.06 - $.09, but if there’s a new burning system, it can go high as $.2 again.

My target to take profit with SLP is $0.15 and the next one is $0.3. Burning or not, I don't care because the game is when whales finish their accumulation and retail investors shake hands to give control to whales, whales will pump SLP.

Johnyz

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Quote from: doomloop on October 09, 2021, 04:12:38 PM

SLP price keeps dropping though? It is around 8 cents right now. That means an average person makes 8 dollars per day if they grind it every day. Which is not bad don't get me wrong, that is 240 dollars per month, but this was a lot more. AXS is still high but SLP drops which is a problem for the axie community.

I do not know which one will break first, either SLP will go up as well just like AXS and make it valuable with each other. However if AXS breaks and it goes down because people are not making as much profit as they used to, then it will be a doomsday for the people who are playing the game for profit. I never liked the "game" part of it anyway, I really hope something much better comes up.

There’s no new way yet to Burn SLP, so I will see its price to remain on the price of $.06 - $.09, but if there’s a new burning system, it can go high as $.2 again.

AXS is the main token for breeding, and since the update of staking, airdrop its price started to pump, many believes that AXS can still go higher but for me its already overbought and we might see its correction as well, so be careful and keep analyzing, don’t get ride because of the hype.

doomloop

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SLP price keeps dropping though? It is around 8 cents right now. That means an average person makes 8 dollars per day if they grind it every day. Which is not bad don't get me wrong, that is 240 dollars per month, but this was a lot more. AXS is still high but SLP drops which is a problem for the axie community.

I do not know which one will break first, either SLP will go up as well just like AXS and make it valuable with each other. However if AXS breaks and it goes down because people are not making as much profit as they used to, then it will be a doomsday for the people who are playing the game for profit. I never liked the "game" part of it anyway, I really hope something much better comes up.

ipanks

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Maybe those investors still are interested in AXS to increase the price while the other coins experienced getting dumps. With bitcoin price now being up and down like before, AXS back getting green candle and it could make the price continue increases. But the hype can still happen to the market so it needs more research to find more information about AXS if you are interested in investing in that coin. Maybe waiting for a while until the price gets a correction will be a good time to buy.

molsewid

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Quote from: Beparanf on October 08, 2021, 08:06:10 PM

Yes, Hype is the real answer. The game just announced that they are planning to built a DEX which AXS token will be the utility, Knowing how many players and investos on this project. Any major news can easily pump this project without any interference from the crypto market condition. The project itself has there own loyal and solid community which is responsible for creating this hype. Swing trader, shrimp and other traders outside the game is just riding the wave that's why the growth continues in incredible rate.

And because of the hype of this game makes it also a rises of the investors that this project have had acquired this year which started to rise at the Q1 of the year up until now. Due to many investors and more investors coming to this project that's why there's no doubt that even bitcoin has dumped AXS were still pumping. The game has now have a strong and big community that makes it more valuable than before that's why I think the rise of the AXS price was not a trap

Beparanf

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Quote from: hello_good_sir on October 08, 2021, 07:55:36 PM

There is definitely a lot of hype surrounding the NFT space right now.

My personal view is that a lot of hype regarding this is unjustified and is reminiscent of the 2017 pumps with ICOs and coins like STEEM.

AXS seems like a pretty good project but I don't think that the valuations stack up, given that it has virtually no utility outside of its own metaverse.

Yes, Hype is the real answer. The game just announced that they are planning to built a DEX which AXS token will be the utility, Knowing how many players and investos on this project. Any major news can easily pump this project without any interference from the crypto market condition. The project itself has there own loyal and solid community which is responsible for creating this hype. Swing trader, shrimp and other traders outside the game is just riding the wave that's why the growth continues in incredible rate.

hello_good_sir

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There is definitely a lot of hype surrounding the NFT space right now.

My personal view is that a lot of hype regarding this is unjustified and is reminiscent of the 2017 pumps with ICOs and coins like STEEM.

AXS seems like a pretty good project but I don't think that the valuations stack up, given that it has virtually no utility outside of its own metaverse.

SlimShadyMmp

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Simple play to earn community and niche I think Different sectors in crypto are beginning to show their emergence point and the gaming ecosystem where axie belongs is growing so fast and with play to earn mechanism I think is easy to see why it grow Dont forget esport where gaming is wild more wild than some business People invest so much on characters and game play I think same think is happening in crypto and is may see great variety of p2e game on the horizon soon

Wakate

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The reason could because there is more demand for AXS than the selling range. We need to know that not all altcoins are dependent on Bitcoin for it to increase or decrease. Investors might have seen greater value in this coin that is making them to continuing purchasing the coin making the price to keep going upward. But we need to know that this coin has higher probability of falling when investors start selling there coins.

Davian144

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Quote from: Dread Pirate Roberts on October 06, 2021, 06:24:44 AM

I think it happen in any projects that are still hype and do have strong investment fundamentals. and it happened in axie. also nft game fans looking forward to updates on their land system and other updates as well which gonna launch december 2021 later . and maybe because the community is already big and the project is going well too . i dont think its trap or trick for anything . i could be wrong but personally not think that way.

Okay, but right now the price is $123 with a drop of almost 3%, well if that's not a trap, then it's more of the ongoing hype on NFT projects like in this AXS example where the pump is so big that it makes it really big strong in the community.

tbct_mt2

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Quote from: Dread Pirate Roberts on October 06, 2021, 06:24:44 AM

I think it happen in any projects that are still hype and do have strong investment fundamentals. and it happened in axie. also nft game fans looking forward to updates on their land system and other updates as well which gonna launch december 2021 later . and maybe because the community is already big and the project is going well too . i dont think its trap or trick for anything . i could be wrong but personally not think that way.

Anxie Infinity in the mania phase and it is the leader in NFT gaming trend so it is very understandable to see it keeps rising when people got hyped with altcoins last week.

Anxie Infinity is too high now and I feel safer when I stay outside the hype. I don't want to gamble and hope for nothing. It is better when I can control risk and protect my capital.

This week, it is the show of Bitcoin. It rocked again and October will be the test that whether Bitcoin will manage to make a new all time high for this bull run. I believe it will break $64k either in October or November.

Dread Pirate Roberts

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Quote from: Davian144 on October 04, 2021, 04:29:21 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?

I think it happen in any projects that are still hype and do have strong investment fundamentals. and it happened in axie. also nft game fans looking forward to updates on their land system and other updates as well which gonna launch december 2021 later . and maybe because the community is already big and the project is going well too . i dont think its trap or trick for anything . i could be wrong but personally not think that way.

Davian144

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Quote from: ?? on ??

I thought its because the hype of its game platform still high since many player keeps influence another on Youtube or Tiktok about the ability of AXS to earn money by playing its game.
If the hype continue, the price would keep rise until reach the point which the demand match the supply on that time.

It could be because of that as well because I also saw this two days ago, but for now I see that AXS has decreased by more than 15% so that the price is no longer at $150+ and I'm also sure that one day the price AXS will increase again once the market conditions have completely recovered from the correction, although Bitcoin is currently increasing for a few percent.

bitkanu

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Quote from: WeedGoW on October 05, 2021, 01:01:48 PM

Quote from: bitkanu on October 05, 2021, 11:18:37 AM

A lot of things happened with axie infinity started from staking. Strategic funding and card revamp. The price of AXS was also triggering SLP to increase again but this time so many AXS holders are staking their tokens in axie staking dashboard. The APR looks awesome right now but it keeps dropping even more from time to the another time as more and more AXS locked into the staking address to earn passive income. I see that in the various group if people are staking the axie infinity token massively. Some whales were also doing it at the same time. These whales were also pushing the price so hard.

The price of axs is going up drastically but it seems like this won't be so long as the correction may come soon. The whales make axie didn't care about what trend that is still happening in the market. AXS has over performed all of major coins. This is quite good for the metaverse coin.

So from what I'm trying to guess your point, this pump is most likely because average AXE users locked their coins behind staking make AXS easily be manipulated by whales? This is plausible as I also think AXS is quite overhyped as it keeps going up prone to an unhealthy grow and dump in the future. Coin going up and down and this is a fact.

True, that's why the total value locked in AXS increasing even higher. I will not count the total value locked in USD as the price was volatile but it can be seen through use how much supply that goes to the staking address. The whales were buying the tokens from the market and this will decrease the circulating supply. It goes to the staking address and that means less circulating supply as this goes to the staking address to be locked on it. Remember there will be a new feature will come.

WeedGoW

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Quote from: bitkanu on October 05, 2021, 11:18:37 AM

A lot of things happened with axie infinity started from staking. Strategic funding and card revamp. The price of AXS was also triggering SLP to increase again but this time so many AXS holders are staking their tokens in axie staking dashboard. The APR looks awesome right now but it keeps dropping even more from time to the another time as more and more AXS locked into the staking address to earn passive income. I see that in the various group if people are staking the axie infinity token massively. Some whales were also doing it at the same time. These whales were also pushing the price so hard.

The price of axs is going up drastically but it seems like this won't be so long as the correction may come soon. The whales make axie didn't care about what trend that is still happening in the market. AXS has over performed all of major coins. This is quite good for the metaverse coin.

So from what I'm trying to guess your point, this pump is most likely because average AXE users locked their coins behind staking make AXS easily be manipulated by whales? This is plausible as I also think AXS is quite overhyped as it keeps going up prone to an unhealthy grow and dump in the future. Coin going up and down and this is a fact.

bitkanu

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A lot of things happened with axie infinity started from staking. Strategic funding and card revamp. The price of AXS was also triggering SLP to increase again but this time so many AXS holders are staking their tokens in axie staking dashboard. The APR looks awesome right now but it keeps dropping even more from time to the another time as more and more AXS locked into the staking address to earn passive income. I see that in the various group if people are staking the axie infinity token massively. Some whales were also doing it at the same time. These whales were also pushing the price so hard.

The price of axs is going up drastically but it seems like this won't be so long as the correction may come soon. The whales make axie didn't care about what trend that is still happening in the market. AXS has over performed all of major coins. This is quite good for the metaverse coin.

arwin100

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Quote from: bbc.reporter on October 05, 2021, 01:29:29 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?

The game itself is really good since you need to be strategic to defeat your enemy in PVP an what more exciting about the game is the opportunity to earn that's why its so famous on Asian or other parts of the world right now.

There dev is also transparent that's why they gain more trust to their community so maybe if your interested about this game better search those current interview made by some content creators to the dev of Axie Infinity.

But also what most important thing here is still DYOR since anything bad can still happen since we are in crypto.

leea-1334

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Because a lot of people in Asia are using it and gaming it,,, and bringing even more and more people into it. It is being heavily promoted all over online spaces and Youtube gamer girls are all doing it.

So the growth is creating demand creating price surge. That is how simple it all is.

Until it stops becoming popular

Bitstar_coin

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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.

bbc.reporter

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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?

FrozenBit

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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.

cabron

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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.

GreatArkansas

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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.

stadus

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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.

el kaka22

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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?

babygun

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Quote from: bitcon on October 04, 2021, 11:40:42 AM

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. Lips sealed

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.

bitcon

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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. Lips sealed

Adbitco

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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/

Davian144

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Quote from: khiholangkang on October 04, 2021, 06:21:03 AM

Quote from: Davian144 on October 04, 2021, 04:29:21 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.

Good, I also thought that way so I felt that something was going on with AXS so that the coin experienced an increase in price in the middle of a market that was not very stable at all and amidst others being stuck without a good increase in the market

khiholangkang

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Quote from: Davian144 on October 04, 2021, 04:29:21 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.

makishart

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Quote from: Davian144 on October 04, 2021, 04:29:21 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.

Davian144

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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?

Topic: Why does AXS continue to increase in the market while others experience dumps? (Read 230 times)