![]() Compared to the spot market, in which there are fewer ways to be short, derivatives like futures contracts can easily facilitate hedging. Patel said that traders who were entitled tokens once they were unlocked may have started opening short positions via futures contracts as a partial hedge, which they then began to unwind after receiving their unlocked tokens.įutures contacts allow traders to open positions on an asset's price without needing to own the asset outright. In the weeks leading up to the previous AXS unlock on October 25, 2022, AXS had been significantly underperforming the rest of the market, per Delphi Research analyst Priyansh Patel. Source: Token Unlocks.Īccording to the vesting schedule, however, today's unlock will only be distributed to those who earned staking rewards, which is why there will be fewer tokens unlocked today compared to previous unlocks. Looking at data from TokenUnlocks, today's unlock is significantly smaller than the previous event in November or the upcoming unlock in May.Īccording to Axie Infinity's tokenomics and allocation as described in its whitepaper, the largest share of the tokens unlocked over the entire vesting schedule will be distributed as staking rewards (29%), with the second-largest share going to the team (21%). Unpacking the AXS unlockĪXS currently has a market capitalization of $1.47 billion and a fully diluted value of $3.46 billion, per CoinGecko. Unlocks of vested tokens generally result in bearish pressure, as they dilute the circulating supply and often instigate increased selling pressure.Īnd with today’s unlock now behind the market, it appears that this selling pressure could be underway. While Axie Infinity players use the Smooth Love Potion ( SLP ) token to facilitate in-game functions, holding AXS lets players vote on the game's development and how to deploy the project's treasury. You can find more details about Axie Infinity on its official website and on the block explorer.$0.04833585 -0.65% Terra Classic (Wormhole) The current circulating supply of Axie Infinity is 115.66 Million tokens, and the maximum supply of Axie Infinity is 270.00 Million.Īxie Infinity’s 24 hour trading volume is $ 15.45 Million.Īxie Infinity's current share of the entire cryptocurrency market is 0.07%, with a market capitalization of $ 820.74 Million. Axie Infinity Price TodayĪxie Infinity's current price is $ 7.10, it has dropped -1.41% over the past 24 hours.Īxie Infinity's All Time High (ATH) of $ 164.34 was reached on, and is currently -95.7% down. Where can you buy Axie Infinity?Īxie Infinity (AXS) can be bought at any of the DEXs and CEXs listed on the Market tab. For example, players will also be able to earn $AXS when they play various games within the Axie Infinity Universe and through user-generated content initiatives. It is an ERC-20 token used for governance, staking, and also has in-game functionalities. The platform’s native token is the Axie Infinity Shard (AXS). Farming for love potions that can be sold on exchanges such as Uniswap and Binance.Collecting and speculating on rare Axies such as Mystics and Origins.Breeding Axies and selling them on the marketplace.Competing in PVP battles to win leaderboard prizes.The game offers players several ways to earn: This means that community developers are able to build their own tools and create unique experiences in the universe. All art assets and other data can be easily accessed by 3rd parties. This means an Axie a player creates via the game’s breeding mechanics will be a unique and original digital object, through being minted as an NFT. Axies possess various skills and are used to battle against either computer-controlled opponents or other real-life players. To play the game, a player has a team of 3 creatures called Axies. What are AXS key features and how does it work? It has also generated over 13,000 ETH in revenue ($16M+) so far. Particularly, Axie has developed a reputation in developing countries from those looking for new income streams as a result of the Covid pandemic.ĭespite still being in its early access, Axie is one of the highest-ranked Ethereum games by daily, weekly, and monthly active users. The game requires players to battle, collect, raise, and build a land-based kingdom for their NFT pets.Īxie leverages Blockchain economic design to reward players for their contributions to the ecosystem, known as a "play to earn" model. ![]() ![]() The platform allows anyone to earn tokens through skilled gameplay and various contributions to the ecosystem. Axie creators built the platform as a fun and educational way to introduce the world to blockchain and NFT technology. Axie Infinity is a Pokémon-inspired gaming ecosystem that you can play on Android phones, iPhones, and on PC.
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