Axie Infinity has become one of the highlights of this 2021 as the NFT game has become popular and players who have played well have been able to earn a lot of money. The question is whether the $ AXS price analysis supports a bullish or bearish $ AXS?
Bitcoin Market Cycle
At the moment, there are many opinions regarding the crypto market that it is going to turn bearish and that the short rise in prices may in fact be just a bull trap. Mr. Whale explained In July, despite the bull trap, many traders still believed Bitcoin was still in a bull market.
Mr Whale went on to note that counterfeiting is rallying everyone to start losing their minds on what has been considered very “common” in bear markets. Mr Whale then noted that the same show was present almost every month during the Bitcoin bubble of 2018.
Although Axie Infinity or $ AXS is an altcoin, the Bitcoin market cycle is known to have an effect on the entire market. When the market was extremely bearish just a few months ago, the price of most altcoins was affected. While not all altcoins have gone down during Bitcoin’s bear cycle, it’s important to do your own research or DYOR to really know if Axie Infinity will be affected.
For now, however, players are celebrating a new update that reduces the reproduction cost from two AXS tokens to one. Axie Infinity has just announced the update of their Twitter, noting that while the cost of AXS per race will decrease, the cost of SLP will increase.
Check out the new SLP cost per race:
1 race would need 600 SLP
2 Race would need 900 SLP
3 Race would need 1500 SLP
4 Race would need 2400 SLP
5 Race would need 3900 SLP
6 Race would need 6300 SLP
7 Race would need 10,200 SLP
The cost listed above, as seen on Axie’s official website, would be the total cost per breed, as the first breed would require 300 SLP per parent. In an FAQ section that asks if Axie Infinity is sustainable, the page gives a tough answer.
Axie Infinity Breeding Fee Update
According to the page, Axie’s economy has yet to be balanced by genuinely rewarding players’ immediate efforts by supporting the game’s long-term plan for community growth. It was noted that there are still some considerations which may be quite difficult for some members of the community to understand, especially if they are new.
Axie notes that they need tens of millions of Axies for the future integration rush that is expected with the launch of their Ronin Dex as well as Battles V2. The website itself notes that they will find themselves in a situation where the price of SLP will initially rise to meet demand and then fall back to normalize SLP.
Read also: Best NFT games of September 2021 like ‘Axie Infinity’ and ‘CryptoZoon’ | Be early for the next games
A CoinQuora article gives vague expectations for the future AXS price prediction.
- 2022 – AXS price prediction will hit $ 200
- 2023 – AXS price prediction will hit $ 350
- 2024 – AXS price prediction will hit $ 500
- 2025 – AXS price prediction will hit $ 720
Of course, it is always important to DYOR before investing in AXS or Axie Infinity.
Associated article: Upcoming NFT 2021 Games | Become the first players of “Axie Infinity” type games
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Written by Urian B.
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