This year has been a tough sail for Axie Infinity since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of AXS.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Axie Infinity to reclaim its all-time high in 2023? Continue with the article to learn about Axie Infinity price analysis and prediction by Coinpaper.
Read also: Axie Infinity updates Origin as users drop out
What is Axie Infinity?
Axie Infinity is a leading play-to-earn NFT game based on the Ethereum blockchain. The game allows players to collect, raise, breed, pit and sell the ecosystem pokemon-like fantasy creatures called Axies in form of NFTs. As part of the online game, users can earn Axie Infinity Shards (AXS) tokens that entitle holders to staking rewards and rights to voting on community proposals.
Axie Infinity (AXS) price
Currently, Axie Infinity Price is USD. AXS has a circulating supply of coins and a total supply of . If you are looking to buy or sell Axie Infinity, Binance is currently the most active exchange.
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Axie Infinity price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Axie Infinity 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Axie Infinity price at $9.82 to $14.35. On the flip side, a fading interest in the new meme coin may push the price of Axie Infinity to $4.52-$3.12 lows.
Axie Infinity price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Axie Infinity (AXS) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Axie Infinity to climb as high as $20.55, with the more distant prospect of reaching $25.96 in 2024. The bearish scenario is likely to see Axie Infinity (AXS) trading between $12.93 and $9.83 in 2024.
Axie Infinity price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Axie Infinity (AXS) price analysis and prediction is based on pure speculation and observation of Axie Infinity historical price movements.
Our Axie Infinity 2025 price forecast expects AXS to rally towards $38.39 and reach $45.82 by the end of the year. The bearish scenario would see Axie Infinity at $21.59 to $16.73.
Axie Infinity (AXS) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Axie Infinity is neutral. In 2026, we expect Axie Infinity to reach at least $59.27 before climbing higher to $78.85. In case of a bearish scenario, Axie Infinity may fall to $41.27.
Is Axie Infinity (AXS) a good investment?
Whether AXS token is a reasonable investment for you depends on your risk profile and how much you intend to invest. As a governance token of Axie Infinity game, this coin recorded a huge downfall as a result of a Ronin bridge exploit that drained $625 million from the platform. What’s more, the number of active players has been steadily shrinking since the exploit, so the current moment may not represent the best buying opportunity.
Bottom line
Are you ready to invest in Axie Infinity? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy AXS from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Axie Infinity?
Axie Infinity was created by Vietnamese game maker Sky Mavis led by Trung Nguyen.
What was the all-time high for Axie Infinity (AXS) ?
The all-time high price of Axie Infinity is $ on 2021-11-06
