Axie Infinity hits key milestone post governance token launch with nearly 100,000 Axies sold
- Axie Infinity recently launched Ronin, the governance token of its blockchain, a side chain of the Ethereum network.
- The play-to-earn game is close to hitting an important milestone with the release of 100,000 Axies.
- Analysts have predicted that Axie Infinity could complete its recovery from the recent altcoin shakeout.
Axie Infinity hit a key milestone with the release of 97,556 Axies. Analysts have a bullish outlook and believe that Axie Infinity could continue its uptrend.
Axie Infinity prepares for bullish breakout after hitting key milestone
Axie Infinity recently hit an important milestone with the release of nearly 100,000 Axies. The play-to-earn game recently launched the governance token of the Ronin chain, another step in the direction of decentralizing the network.
Almost 100 K Axies released!
— Axie Infinity (@AxieInfinity) January 31, 2022
Happy LNY! pic.twitter.com/BvgxcbsmTy
Axie Infinity has gained popularity as a play-to-earn game, and the governance token's launch has boosted the on-chain activity of the token. The side chain of the Ethereum network, Ronin, is on track to get further decentralized.
The Ronin wallet connects over 300,000 active addresses on the Ethereum side chain. In 2021, Ronin handled 15% of overall NFT transactions.
Analysts have evaluated the Axie Infinity price trend and predicted recovery from the drop in the recent bloodbath. @RAFAEL_A_RIGO, a crypto analyst and trader, believes that the Axie Infinity price could rally, and the current price is in the buy zone.
$AXS UPDATE
— ⭐️ RAFAELA RIGO ⭐️ (@RAFAEL_A_RIGO_) January 31, 2022
80% gains going down, now time to make gains going up. This is a spot buying level for me pic.twitter.com/bTZRqtTxTf
@AltcoinSherpa predicts that the Axie Infinity price drop was the final shakeout before complete recovery in the play-to-earn gaming token.
Some notes on #Altcoin recoveries from the last May shakeout. The best performing coins had similar charts- these are primarily seen with a ranging consolidation right after the big shakeout. $AXS $DOT $FTM and others pic.twitter.com/C5wV8Yafhk
— Altcoin Sherpa (@AltcoinSherpa) January 31, 2022
@ssss4321_s, a pseudonymous crypto analyst, noted a W formation in the Axie Infinity price trend. The analyst is bullish on Axie Infinity and predicted a rally in the gaming token.
$AXS "w" formation in the red pic.twitter.com/MT0Tos4heu
— SS (@sss4321_s) January 31, 2022
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
