Axie infinity price prediction: The battle for AXS momentum

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Axie Infinity (AXS) has experienced some peaks and troughs, but what’s the latest price prediction?

AXS logo on a smartphone and laptop                                 
Will AXS’s bullish trend continue? – Photo: Shutterstock
                                

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The Axie Infinity game is not the only one seeing intense action: over the course of 2021, the price of Axie Infinity Shards (AXS) skyrocketed from just over 50 cents in January to $160 in November.

Axie Infinity is a blockchain game that allows players to earn cryptocurrency by battling characters called Axies and trading them on its non-fungible token (NFT) marketplace. Players are rewarded for winning battles with two tokens, Smooth Love Potion (SLP) and Axie Infinity Shards (AXS). AXS is the rarer and higher-priced of the two; it also saw its price shoot up last year.

With traditional games, developers will update their projects to increase the number of players and maintain current users. But Axie Infinity’s updates have proved to have more worth, as AXS has frequently seen bullish trends after such upgrades. 

Axie Infinity has recently launched its next major update, under the name Origins, with improvements to gameplay and user interface. However, it is only just recovering from a $625m hack in March 2022 and the AXS price shows it. 

From the AXS whitepaper

The Axie Infinity Shards – $AXS whitepaper states: “Axie Infinity Shards (AXS) are an ERC-20 governance token for the Axie Universe. AXS holders will be able to claim rewards if they stake their tokens, play the game, and participate in key governance votes.

“Players will also be able to earn $AXS when they play various games within the Axie Infinity Universe and through user-generated content initiatives.”

According to the site, the goal of Axie Infinity Shards is “to align the incentives between the players of the game and the developers in novel and exciting ways”.

Axie Infinity web profile

Looking at its ratings on CoinMarketCap, Axie Infinity currently holds a 74% favourable majority.

Meanwhile, the Axie Infinity game has accumulated more than 956.3k followers on Twitter, and 104k members on Reddit.

Before diving into what the future holds for the crypto game token, let’s look at its price history.

AXS’s bullish price history

The first three months of 2021 were fairly uneventful for the AXS price, with the token not going much further than the $2 mark.

AXS saw a spike in April 2021 as the game migrated from Ethereum to Ronin, an Ethereum-linked sidechain made specifically for Axie Infinity – think of it as a blockchain within a blockchain. Since April, Axies have been bred, bought and sold on Ronin. AXS gameplay rewards are also claimed on the sidechain.

Ronin has allowed Sky Mavis, the company behind the Axie Infinity game, to steer the direction of the product, and the migration brought with it many bonuses for players. It has drastically reduced gas fees and simplified the process for new users. It has also given players 100 free marketplace actions each day. Subsequently, the AXS price saw a boost after the blockchain migration, reaching $10.85 on 28 April 2021.

The price dipped to around the $4 mark in May and June 2021, but rallied by more than 100% by the end of July. The July update from the Sky Mavis team revealed that it reached 800,000 daily active users and was the number one NFT product by 30-day volume, with sales above $600m.

The update also announced content for an adventure mode in which players battle against the computer AI, as well as an update to Land, a system whereby players can buy plots of land in the game using the marketplace.

The AXS price saw an initial spike on 15 July, reaching $23.96. The bullish trend then continued throughout the rest of the month, skyrocketing to above $40 on 31 July 2021.

SLP burned to make rewards rarer

The momentum of the AXS price carried on into August. Sky Mavis found that SLP, Axie Infinity’s other crypto token, was on an inflationary trajectory – for every five SLPs produced, only one was burned. As a result, the game studio updated Axie Infinity to make SLP rewards much rarer.

On 10 August 2021, the day the new update went live, the AXS price ballooned from $43.71 to $64.05. The price kept rising for the rest of the month and reached $72.20 on 31 August 2021.

September saw another major update to the Axie Infinity ecosystem. The staking feature went live on 30 September, allowing users to stake their AXS tokens. Through staking AXS, users are given AXS rewards as well as voting rights on the future of the game. The voting rights give users a say on the community treasury, an account that currently holds $2.7bn worth of AXS.

This update pushed the AXS past the $100 mark, as it gave users a reason to be involved for the long term. The price jumped from $74.51 on 30 September 2021 to $110.54 on 1 October.

The bullish trend did not halt for the next few months. In early November, Sky Mavis launched Katana, a decentralised exchange for Ronin. At launch, users were able to trade between AXS, SLP, USD coin (USDC) and wrapped ether (WETH). Katana was built to make Axie Infinity and the subsequent tokens easier to use and less expensive. It proved a success – on 5 November 2021, the day after it launched, the price surpassed the $150 mark.

On 7 November 2021, the price reached an all-time high of $160.36, but it has since fallen after new research revealed that the Axie Infinity game may be losing its user base.

According to PlayerCount, 41% of Axie Infinity players are based in the Philippines. However, research from Naavik found that since September, full-time players have started earning less than the Philippines’ daily average wage. The price fell below $150, and on 16 November 2021 the price was hovering around the $133 mark.

On 24 November 2021, the popular metaverse game sold a digital plot for 500 ETH. Axie Infinity has confirmed that this is the highest price yet paid for a digital plot of land in the metaverse. Bank of America also made bullish statements regarding the “massive opportunity” presented by the metaverse and by 3 December 2021, some recovery had been made and the token was valued at around $141. 

The price continued to concede to the bears and on 25 January 2022, the Axie Infinity price saw lows of $49.58. Since then, however, the coin has been on a general upward trajectory. Axie Infinity Update 1.1.3.3, which went live on 25 January, added some balancing changes to the game ahead of the launch of Axie Infinity Season 20 on 9 February. The AXS coin reached a high of $68.08 the following day.

Axie Infinity: Origins

The play-to-earn game revealed even bigger news in February – Sky Mavis would be revamping the game with the title Axie Infinity: Origins. It announced on 11 February that it would be releasing the update in phases, starting at the end of the first quarter of 2022.

The team wrote in a blog post: “It will have brand new interfaces, game mechanics, art, special effects, storylines, and an expansive onboarding experience. Origin has been built from the ground up to be more approachable for a mainstream audience.”

The early access version of the update went live on 7 April, giving players a taste of what’s to come. But it was not enough to permanently save the AXS cryptocurrency. The cryptocurrency saw a slight peak of $71 on 24 March, but stooped to $43.01 on 26 April. The slump followed a massive attack on the Ronin blockchain, with hackers walking away with $625m worth of cryptocurrencies. The network said it was committed to recovering and reimbursing the stolen funds.

The Ronin network finally went back online at the end of June, over three months later. This was after an internal audit of the code was completed, along with external checks from Verichains and CertiK. But this has currently not helped its AXS price. At the time of writing, on 30 June, the gaming token is hovering at $13.45 and is down 7% in a recent seven-day peroid.

Axie Infinity price prediction

TradingBeastsAXS coin price prediction believes it will continue its bearish trend this year. The Axie Infinity token is expected to fluctuate around the $20 level for most of 2022, but drop to $13 in December. However, it does think AXS will eventually start rallying. TradingBeasts’ AXS crypto price prediction expects it to climb past $40 in 2025.

WalletInvestor says AXS is an “awesome long-term investment”. Its Axie Infinity price prediction for 2022 expects it to reach $55 in a year. The site’s Axie Infinity price prediction for 2025 is for the coin to surge above $100. The momentum is expected to continue, and in five years’ time could be worth $207. 

There is an even more positive AXS coin price prediction from Gov.capital, which suggests the price will reach $223 in one year’s time and climb above $300 in August 2023. The five-year AXS prediction for 2027 is $1,944. An Axie Infinity price prediction for 2030 remains scarce.

FAQs

What is the Axie Infinity coin price prediction for 2025?

According to DigitalCoinPrice, the average price of Axie Infinity in 2025 should be around $25.

PricePrediction.net suggests the coin could see an average price of $86.87 in 2025.

Please note that these predictions are algorithmic, and cannot represent all of the external factors and influences that cause values to change in their data sets. All price predictions and forecasts provided are for general information only. 

Is Axie Infinity a good investment?

It might be. In 2021, the AXS price ballooned from $1 to $160 but it is now back below $20. Analysts expect bullish momentum over the course of this year, however, and Gov.capital’s AXS crypto price prediction is for it to pass $300 in August 2023.

Remember, algorithmic predictions change frequently, so you should always do your own research before investing, and never invest any money that you cannot afford to lose.

How to invest in Axie Infinity

AXS can be bought on a variety of exchanges, including Kraken and Katana. It can also be earned as a reward when playing the Axie Infinity game, and through staking the tokens.

Remember, though, that cryptocurrencies are highly volatile and the price can always fall – so never invest more than you can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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