|

Axie Infinity price expected to rally ahead of major network updates

  • Axie Infinity announces Origin alpha test launch within a few months in its January 2022 update. 
  • The Axie Infinity development team is working on the “Project K trading feature” to support in-game trading of items. 
  • Analysts have predicted that the daily structure of Axie Infinity price trend could breakout of the wedge. 

Play-to-earn gaming giant Axie Infinity revealed major development updates for 2022. The team is working on a feature to support the in-game trading of items between users. This update will likely take over a month to be live. 

Axie Infinity developers reveal major updates for 2022

One of the largest metaverse tokens, Axie Infinity, revealed major development updates in 2022. The play-to-earn gaming token enjoys a community of actively engaged players and investors. 

The development team is currently working on a key update, the “Project K trading feature.” The feature is expected to enable in-game trading of items among users. The feature would take over a month to finish development and launch, according to the Axie Infinity newsletter. 

Interestingly, the Axie Infinity team is working on a target alpha test launch in 2022. Origin (Battle V3) would introduce new economic balancing features. Features like a vertical progression of Axies would boost utility and adoption among investors. 

The development team has shared 3-dimensional (3D) models created for “Project K trading feature” in a recent blog. The team is working on simplifying the onboarding process through the launch of Origin. 

@Call_Me_Cypher, a cryptocurrency analyst and trader predicted that the daily structure of the Axie Infinity price could break out of the wedge and move higher. 

@Crypto_Scofield, a crypto analyst and investor, has set a target of $89 for Axie Infinity price. FXStreet analysts evaluated the Axie Infinity price trend and predicted a 26% advance in the price of the play-to-earn gaming token. 

Author

Ekta Mourya

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.

More from Ekta Mourya
Share:

Editor's Picks

XRP consolidates as ETF inflows, rising derivatives interest offset selling pressure
Ripple (XRP) faces sustained selling pressure as bears maintain control on Monday. The remittance token has struggled to break above the $1.10 resistance since last Thursday, as risk sentiment weighs. Demand for XRP derivatives has gradually increased since last week, with the perpetual futures Open Interest (OI) averaging 2.4 billion XRP on Monday, up from 2.13 billion XRP the previous day.
Bitcoin Price Forecast: BTC remains below key 50-day EMA as headwinds from escalating US-Iran conflict offset ETF inflows
Bitcoin (BTC) trades just below its 50-day Exponential Moving Average (EMA) near $65,000 on Monday, a key technical level that could determine its next directional move. Institutional demand via ETFs improved somewhat last week, providing some tailwind for the Crypto King, but the latest round of strikes between the US and Iran has dampened risk appetite.
Crypto Today: Bitcoin, Ethereum, XRP slip as US-Iran escalating hostilities pressure risk assets
Cryptocurrency prices remain under pressure on Monday, as Bitcoin (BTC) falls toward $64,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), uphold a weakening technical structure. ETH is trading sideways between support at $1,826 and resistance at $1,937. Meanwhile, XRP hovers below the pivotal $1.10 level, edging lower toward the primary $1.00 support.
Solana Price Forecast: SOL risks further decline amid weak institutional, retail demand
Solana (SOL) price edges lower on Monday, maintaining a corrective tone from early July. Institutional demand remains muted, with two consecutive weeks of inflows under $1 million, while declining Open Interest and the funding rate point to bearish retail interest, even as trading volume rises by over 70% in 24 hours.
Bitcoin’s potential recovery in the second half hinges on these 4 catalysts
Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.
Axie Infinity price expected to rally ahead of major network updates