After the market’s crash across the board, it seemed that Axie Infinity (AXS) was beginning to recover. On the 27th of December, AXS reached a price of $111.57, yet within just 10 hours, it fell back down to $101.08.
October and December were undoubtedly highly successful months for the play-to-earn blockchain-based game, but its future price is becoming increasingly unclear as Axie Infinity records sale and activity volume losses.
One possible contributing factor to the lower activity volume of the metaverse game could be considered to be the recent natural disaster in Southeast Asia:
“The recent decline in daily activity of Axie Infinity may be related to the typhoon disaster in the Philippines. The Philippines is the largest user group of Axie games. Tens of millions of people have been affected by the typhoon, and the network has failed in some areas,”
blockchain journalist Colin Wu tweeted.
Wu also reported that Axie Infinity has been stagnant at the same level as it was in mid-July, and has since fallen, recording a dip of 70% since its peak in the second quarter of 2021.
Sentiment around Axie Infinity on Investors Observer is currently seen to be bearish.
On the Flipside
- Axie Infinity has to be considered as one of the most successful metaverse projects of the year.