Binance CEO CZ applauds Axie Infinity’s team, AXS prepares for recovery
- Changpeng Zhao, the CEO of Binance, recently applauded Axie Infinity for the project’s recovery from the Ronin network hack.
- Axie Infinity price plummeted through the recent bloodbath and posted nearly 15% gains overnight.
- Analysts reveal that Axie Infinity has dipped in USD value, however, the gaming token has held steady against Bitcoin.
The CEO of the world’s largest cryptocurrency exchange appreciated the Axie Infinity team for the way they handled the attack on the blockchain. The Axie Infinity team releases “Origin” on android for users, fueling bullish sentiment.
Axie Infinity on track to recover from recent slump
The recent market-wide correction hit Axie Infinity, and the gaming token lost 15% of its value overnight. While billions of dollars were shaved off of cryptocurrency market capitalization, proponents believe gaming tokens like Axie Infinity can make a comeback.
Binance CEO Changpeng Zhao applauded the Axie Infinity team’s efforts to tackle the Ronin bridge hack. In light of recent events like UST’s collapse and LUNA’s run to zero, the crypto community has turned to gaming and metaverse tokens.
CZ shared his views in a tweet.
1. At #Binance we prioritize user protection. We made the decision to suspend LUNA and UST trading. Here's why.
— CZ Binance (@cz_binance) May 13, 2022
A thread
The CEO of the world’s largest exchange explained that there has been no positive response from the Terra team in the ongoing UST crisis. The team behind Axie Infinity differs from Terra in terms of action and response to a crisis situation. CZ believes Axie Infinity appropriately handled the crisis.
6. (This is in sharp contrast to Axie Infinity, where the team took accountability, had a plan, and were communicating with us proactively. And we helped.)
— CZ Binance (@cz_binance) May 13, 2022
Analysts at @P2Edaily noted that the Axie Infinity price has held steady against Bitcoin though the metaverse token plummeted against the USD.
$AXS dipped in USD value but held the level firmly against $BTC. pic.twitter.com/68eKn32aFR
— AAG Founder l WILL NEVER DM YOU 1ST (@P2E_Daily) May 9, 2022
Analysts like @AltstreetBet hold a contrasting view and believe Axie Infinity price could witness a drop and plummet to levels between $14 and $10, revealing a bearish outlook.
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.
