Here’s Why The AXS Price Has Pumped 35% in a Week

The 2021 bull run helped several cryptocurrency projects positions themselves as high-potential ecosystems in a short span. It created newer categories within the sector and helped thousands of people enter and participate in previously lesser-known domains like blockchain gaming. For a long time, Axie Infinity enjoyed being at the helm of this category, before crashing back down along with every other crypto earlier this year.

However, the project has now been showing a rather strong upward movement, which has caused the wider audience to wonder about its future price action. Infact, Axie infinity’s native token AXS has been performing better than most of its blockchain gaming counterparts too, with a spike up of more than 35% within the past week alone.

There have been speculations and obvious factors which could have served as a catalyst for this sudden growth. Some of these include-

Axie Contributor Initiative

It is common for projects to increase in value whenever they roll out new developments or upgrades to their products. The Axie Infinity team kept its community in anticipation for the past couple of days before officially announcing its new Axie Contributor Initiative on 5th December.

Essentially, this initiative will pave the way to creating a truly decentralized governance model for Axie Infinity by allotting several rights to the token holder, or actual participants of the project. The Axie Contributor Initiative comes at a time when crypto is being questioned for its lack of decentralization when the most important aspect of blockchain technology is exactly that. This has surely helped the AXS token appreciate too, as investors consider such moves to help the game ecosystem grow in terms of value.

Updates and New Products

Axie Infinity has managed to constantly grow with the help of a strong team of developers. They have been keeping their community and players updated about any major developments or updates in the game, which has gained the appreciation of several popular crypto influencers in the space.

A couple of months ago, Axie had come out with major news regarding a new season, and changes to the playing style. They renamed the game from Axie Infinity- The Origin to Axie Infinity- Origins, in order to help the Origin Axie Monster character within the game create a distinguishable brand name for itself. Such actions show that the team is vested in seeing this project grow to new heights in the future, which is reason enough for more investors to be a part of the project.

Competitions

There are very few games in the blockchain space that have decided to become a part of the booming e-sports sector. Axie Infinity managed to bag this spot after becoming one of the first projects to enter the e-sports domain on a global level. The Axie World Championship that was held this year helped the project gain fame, and a place amidst top-grossing traditional games.

It featured attractive rewards, players, teams and streaming services which is highly uncommon for cryptocurrency projects. While the price of AXS didn’t shoot up instantly during the tournament, it surely did have a positive effect on the token as well as the entire ecosystem in the longer term.

A Highly Dedicated Community

Axie Infinity has a massive social media following across all major platforms. With its 900K+ followers on Twitter, the team has led several campaigns, giveaways and promotional activities within the last year, that increased the popularity of Axie Infinity.

Even on other social media platforms like Reddit, the number of Axie Infinity mentions seems to be constantly growing, despite the market conditions. All this has served awareness around the project to increase, allowing the token’s price to shoot up as well.

What is Axie Infinity and does it hold long-term potential too?

Axie Infinity was one of the first blockchain games to gain recognition on a global level. Despite being introduced in 2018, the NFT-based blockchain game had managed to strike a chord with the audience, since its inception. The bull run furthered its growth, as the AXS token increased by over 5200% within just a matter of months.

The price of Axie Infinity currently is in the $8.3 range, more than 90% lower than its all-time high of around $160. However, its recent 35% growth goes to show that the project still holds potential, and could even see another rally by the next bull run. However, with an inflated market cap and a concept that is now being shared by hundreds of other projects, the next rally is unlikely to be as strong as the one investors witnessed back in 2021.

What are other high-potential alternatives?

Axie Infinity is surely a strong project that could see much more growth going forward. However, investors are often looking for projects that can deliver better returns or those with stronger fundamentals given the current state of the market and ongoing trends. Listed below are three such projects that one should definitely look out for-

Dash 2 Trade (D2T)

As a crypto analytics and social trading platform, Dash 2 Trade is a high-demand project which investors seem to be very excited about. It provides a variety of features and is specifically created keeping retail investors in mind. With the recent FTX collapse and other economic issues, getting information about the industry has become extremely important. Dash 2 Trade provides on-chain data, which can benefit traders to make strategic choices at the right time.

Due to this exact reason, D2T, the native token of Dash 2 Trade has been in high demand since the presale started. As a project being featured on several major crypto websites and social media platforms like Youtube and Twitter constantly, it could be an excellent investment option for investors looking to gain great returns in the upcoming months.

IMPT.io (IMPT)

IMPT.io is one of the greenest cryptocurrencies in the space at the moment. It boasts a marketplace with over 10,000 companies who have already committed to joining them upon launch. The IMPT.io is a carbon offset program which could see a considerable increase in value due to its eco-friendly solution. IMPT, the native token of IMPT.io has already managed to raise more than $14.9 million and is expected to be a top-grossing project in 2022.

Calvaria (RIA)

This P2E NFT trading card game is an excellent option for crypto investors and gamers alike. Calvaria is a newly introduced project, which is already popular for its huge community. It has high-quality artwork and is being hailed as the next Axie Infinity by several members of the community. Its native token RIA is also in the presale phase, making it the perfect time to stock up on the asset for future gains.

Read More: