Coin Bureau Looks Into Axie Infinity (AXS), Could Rally 2X Within This Cycle

Coin Bureau’s crypto analyst known as Guy looks into NFT-based online video game Axie Infinity’s governance token (AXS), and predicts that it still has room to grow, despite climbing over 25,000% this year.

In a recent strategy session, the show host shared with Coin Bureau’s 1.69 million subscribers on YouTube that the play-to-earn (P2E) game, which hosts a robust non-fungible token (NFT) marketplace is the leading force in the P2E space.

“Cryptocurrency has made it clear that play-to-earn is the future of gaming. Creating a sustainable play-to-earn ecosystem is not an easy thing to do, however.

The only crypto project that has managed to pull it off so far is Axie Infinity, and it has consequently amassed over two million monthly users and counting…

AXS is crypto’s top gaming coin.”

Axie Infinity’s governance token has had an incredible year. Since January 1, AXS has climbed 25,320% from $0.53 to its current price of $137.55. Despite the parabolic rise, Guy believes that AXS is not done yet.

“Axie Infinity’s updates have taken AXS to new all-time highs… AXS is in a very strong uptrend and it looks like new all-time highs are ahead.

That said, Axie Infinity’s market cap is quite large, and this means it’s going to take a lot more money to push up its price than it did before. At the same time, AXS stakers are earning handsome AXS rewards, and it’s very likely that some of them are selling.”

The analyst also discussed the impact ot Axie’s vesting schedule, which is the way a project locks and releases tokens in order to ensure its long-term viability.

“The vesting schedule for AXS is quite aggressive compared with other cryptocurrencies, and it’s likely that some of Axie Infinity’s early investors are taking profits, too.

This is to be expected, given that the ICO (initial coin offering) price for AXS was just 10 cents. That means many early investors are sitting on at least a 1,000x. In terms of numbers, it looks like around 10 million AXS have entered circulation since July.”

So what’s next for Axie Infinity. Guy, believes as long as the game’s popularity continue, the AXS token is still likely to grow in price – maybe even 2x – despite that there might be sell-side pressure from profit takers.

“The good news is that this increase in sell pressure is being offset by the continued adoption of Axie Infinity, which is creating a lot of demand for AXS. With some luck, AXS will pull another 2x before the crypto bull market is over.”