2021-11-4 17:37 |
The Axie Infinity (AXS/USD) price has been in a tight range recently as last month’s spectacular rally fades. AXS is trading at $135, which is a few points below its all-time high of more than $165. Its total market capitalization has jumped to more than $8 billion, making it the 24th biggest cryptocurrency in the world.
Momentum fadesAxie Infinity is a major blockchain project that is at the convergence of the metaverse, gaming, and non-fungible tokens (NFT). The project enables people to create and play games virtually. These gamers are then rewarded using the AXS token that can then be converted into cash.
Axie Infinity has become incredibly popular among users. It has millions of users from around the world every day.
The platform is in one of the fastest-growing areas in technology today. First, gaming is a multibillion-dollar industry that is expected to keep growing over years. Second, the NFT industry generates millions in sales every month. And it is a relatively small industry that will see a lot of growth in the future.
For example, data compiled by Crypto Slam shows that Axie Infinity sold NFTs worth more than $25 million in the past 24 hours.
Third, Axie Infinity is in the metaverse industry. This is an industry where people interact with each other in a virtual ecosystem. It is an industry that is expected to grow so fast. Indeed, in a statement last week, Facebook announced that its holding company will be known as Meta. Meta is the short form for metaverse.
And in another statement on Monday, Microsoft announced that it was moving into the industry. Its first solutions in the industry will be incorporated in Microsoft Teams, which will have digital avatars. The company hopes that it will introduce more similar solutions in the future.
Axie Infinity price predictionThe four-hour chart shows that the AXS price has been in a tight range recently. This consolidation has happened after it staged a major rally in October. The price remains above the ascending trendline that is shown in black. It is also slightly below the key resistance level at $155, which was the highest level in October.
Therefore, there is a possibility that the Axie Infinity price will soon have a bullish breakout. This breakout will be confirmed if it manages to move above the resistance at $155.
The post Axie Infinity (AXS) price prediction as the metaverse industry booms appeared first on Invezz.
Similar to Notcoin - TapSwap on Solana Airdrops In 2024
AXS (AXS) на Currencies.ru
|
