Million altcoin analytics channel Coin Bureau analyst lists compelling catalysts that could push Axie Infinity (AXS) to ATH…
Axie Infinity’s price catalysts
The analyst lists the main price catalysts that will drive AXS to its peak prices.
- First on the list is the FTX cryptocurrency exchange’s announcement that it will partner with yield guild games to provide scholarships to Axie players.
- In second place is Sky Mavis raising $152 million in a funding round led by famous crypto VC Andreessen Horowitz.
- Third and most importantly, at the end of October, it joined the hype around Facebook’s Metaverse rebranding as Axie Infinity was in the process of releasing its own Metaverse.
- Also, the game launched its own decentralized exchange called Katana.
And the last price catalyst is related to a Singaporean gaming guild called Crypto Gaming United or CGU. Cryptocoin. com, CGU announced that it will provide scholarships of up to four thousand dollars to Axie Infinity players along with their retirement plan.
Altcoin AXS technical price analysis
According to the analyst, updates to the altcoin project have pushed the AXS price to ATH levels and have been valued almost 10x since January. However, AXS is in a very strong uptrend and continues to erode its peak prices. The analyst also states that the market cap of Axie Infinity is quite large, meaning that it requires more money than before to raise the price. At the same time, AXS stakers earn satisfying rewards and provide market liquidity by selling some.
Still, the analyst shares his strong belief that the increase in selling pressure is offset by continued adoption of Axie Infinity, which has created so much demand for AXS. And more importantly, he predicts that AXS could be worth 2x before the crypto bull market ends.