- Nansen data shows Axie Infinity’s daily transaction volume has plummeted to mid-July altitudes.
- AXS price dropped to $102, with a 5% crash as daily active addresses and Axie NFTs’ sale volume fell.
- US Axie Infinity followers can use debit cards to purchase Smooth Love Potion.
- Analysts believe $104 is a big test for AXS price trends; failure to do that will see Axie Infinity falling further.
Axie Infinity, a play2earn gaming asset, has seen its price dropping after the game saw its daily active users plunging. However, analysts have forecasted Axie Infinity’s test.
AXS Fails to Recover
Nansen, a blockchain analytic firm, suggests that Axie Infinity’s daily transaction volume has plummeted to mid-July areas. A Chinese journalist, Colin Wu, observed that the play-to-earn game had its daily transaction volume tumbling.
AXS non-fungible tokens’ sales volume on the Ronin chain has declined to low levels. Moreover, daily active addresses remain below 300,000. That translates to an over 70% drop from the project’s user activity peak.
Axie Infinity demand and utility might rise with in-game tokens and NFTs purchases by United States customers via the Ronin wallet. Recently, the wallet updated its functionalities to support debit card purchases.
The play-2-earn metaverse coin has seen its price plunging by 5% within the past 24 hours. The reduced user activity and declining NFTs sales affected AXS’s price actions.
A pseudonymous crypto analyst, @BigCheds, has examined Axie Infinity’s price actions. He forecasted that the metaverse crypto would undergo a test at $104.27. Market participants may need to watch this vital level for AXS price.
FXStreet analysts remain bullish on AXS price, and they see an upcoming reversal with the potential to rally higher. Furthermore, most analysts maintain a bullish stance as far as BTC’s future moves are concerned. The crypto market has the chance to launch a monstrous rally in the upcoming bullish run.
However, crypto-assets may need to dip to gain ground for the anticipated rise. For now, Axie Infinity’s path with few obstacles in the downside one. AXS has lost 70% of its daily active users, authorizing downswings.
Stay tuned for more crypto updates.
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