{"id":492539,"date":"2022-06-08T07:18:27","date_gmt":"2022-06-08T07:18:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=492539"},"modified":"2022-06-08T07:18:27","modified_gmt":"2022-06-08T07:18:27","slug":"axie-infinity-revenue-continues-to-collapse-heres-why","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/nft\/axie-infinity-revenue-continues-to-collapse-heres-why\/","title":{"rendered":"Axie Infinity Revenue Continues To Collapse – Here’s Why"},"content":{"rendered":"

Axie Infinity, a blockchain-based play-to-earn game, generated a measly $988,400 in total revenue the previous week, which is the first time that the popular P2E game that allows you to earn SLP coins, amassed lower than 1 million since February 2021.<\/span><\/p>\n

From an hourly standpoint, AXS price has spiraled down by 1.69% or roughly $0.35 compared to values from an hour ago. This looks like a reversal from the previous results, showing the price moving up.<\/span><\/p>\n

Today, the AXS price is down by 0.87% or $0.18 from yesterday. This reverses the price movement that transpired the previous day, which registered an upward trend. The 100-hour time frame proves to be most consistent, showing a bearish or downward trend.<\/span><\/p>\n

Suggested Reading | Bitcoin Market Cap Shed Over $120-B Last Month \u2013 How Much More Can It Lose?<\/a><\/strong><\/em><\/p>\n

Axie Infinity \u2013 Still The Most Popular P2E?<\/b><\/h2>\n

Axie Infinity, the most popular P2E, has seen a trailblazing success in 2021. Axie Infinity managed to generate over $215 million at its peak fame on August 8, 2021.<\/span><\/p>\n

Additionally, Sky Mavis, the game’s creator, has also procured over $152 million in funding or a valuation of $3 billion in a funding round headed by <\/span>Andreessen Horowitz.<\/p>\n

However, things went through rough spots as the game dropped in November 2021 due mainly to its burn mechanism and imbalance of issuing SLPs.<\/span><\/p>\n

<\/p>\n

BTC total market cap at $862 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n
There was an overload of Smooth Love Potion (SLP), Axie\u2019s in-game token, which was issued with no means to burn or destroy the tokens thoroughly. Axie suffered from inflation as its SLPs depreciated in value and failed to incentivize players.<\/span><\/p>\n
Sky Mavis has recently added a burn mechanism into Axie, but it did not work.<\/span><\/p>\n
AXS Consistently Moving Down<\/b><\/h2>\n
AXS has been consistently moving down ever since it reached its all-time high in November 2021 with a price of $166.09.<\/span><\/p>\n
The downward trend resulted in AXS reaching a low price of $16.20 in May. The support area is around $20, but AXS did not achieve this since July of 2021.<\/span><\/p>\n
Axie Infinity has been moving up since May 28, which is a rebound of 52% from the lows it suffered in May.<\/span><\/p>\n
Suggested Reading | Crypto Community Sees Nearly 80% Upside For Ethereum By End Of June<\/a><\/em><\/strong><\/p>\n
The downward movement was then prefaced with a bearish forking movement, as seen in the weekly RSI, which shows an intact trendline. <\/span><\/p>\n
The only time a trend can be coined as bullish is when the trendline is broken. If the bounce lingers on, the next resistance area would be at around $50.<\/span><\/p>\n
Featured image from Bitcoin News, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Axie Infinity, a blockchain-based play-to-earn game, generated a measly $988,400 in total revenue the previous week, which is the first time that the popular P2E game that allows you to earn SLP coins, amassed lower than 1 million since February 2021. From an hourly standpoint, AXS price has spiraled down by 1.69% or roughly $0.35 compared to values from an hour ago. This looks like a reversal from the previous results, showing the price moving up. Today, the AXS price is down by 0.87% or $0.18 from yesterday. This reverses the price movement that transpired the previous day, which registered an upward trend. The 100-hour time frame proves to be most consistent, showing a bearish or downward trend. Suggested Reading | Bitcoin Market Cap Shed Over $120-B Last Month \u2013 How Much More Can It Lose? Axie Infinity \u2013 Still The Most Popular P2E? Axie Infinity, the most popular P2E, has seen a trailblazing success in 2021. Axie Infinity managed to generate over $215 million at its peak fame on August 8, 2021. Additionally, Sky Mavis, the game’s creator, has also procured over $152 million in funding or a valuation of $3 billion in a funding round headed by Andreessen Horowitz. However, things went through rough spots as the game dropped in November 2021 due mainly to its burn mechanism and imbalance of issuing SLPs. BTC total market cap at $862 billion on the daily chart | Source: TradingView.com There was an overload of Smooth Love Potion (SLP), Axie\u2019s in-game token, which was issued with no means to burn or destroy the tokens thoroughly. Axie suffered from inflation as its SLPs depreciated in value and failed to incentivize players. Sky Mavis has recently added a burn mechanism into Axie, but it did not work. AXS Consistently Moving Down AXS has been consistently moving down ever since it reached its all-time high in November 2021 with a price of $166.09. The downward trend resulted in AXS reaching a low price of $16.20 in May. The support area is around $20, but AXS did not achieve this since July of 2021. Axie Infinity has been moving up since May 28, which is a rebound of 52% from the lows it suffered in May. Suggested Reading | Crypto Community Sees Nearly 80% Upside For Ethereum By End Of June The downward movement was then prefaced with a bearish forking movement, as seen in the weekly RSI, which shows an intact trendline. The only time a trend can be coined as bullish is when the trendline is broken. If the bounce lingers on, the next resistance area would be at around $50. Featured image from Bitcoin News, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":492540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86128,83565],"tags":[83849,83848,83875,85438,86129],"class_list":["post-492539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-axie-infinity-axs","category-nft","tag-axie","tag-axie-infinity","tag-axs","tag-p2e","tag-play-to-earn"],"acf":[],"yoast_head":"\nAxie Infinity Revenue Continues To Collapse - Here's Why<\/title>\n<meta name=\"description\" content=\"Axie Infinity, a blockchain-based play-to-earn game, generated a measly $988,400 in total revenue the previous week, which is the first time that the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/nft\/axie-infinity-revenue-continues-to-collapse-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Axie Infinity Revenue Continues To Collapse - 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Axie Infinity Revenue Continues To Collapse – Here’s Why","url":"http:\/\/ktsl888.com\/nft\/axie-infinity-revenue-continues-to-collapse-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/nft\/axie-infinity-revenue-continues-to-collapse-heres-why\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Axie-Infinity.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Axie-Infinity.png?fit=787%2C446"},"articleSection":"AXS","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["axie","axie infinity","axs","p2e","play-to-earn"],"dateCreated":"2022-06-08T07:18:27Z","datePublished":"2022-06-08T07:18:27Z","dateModified":"2022-06-08T07:18:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Axie Infinity Revenue Continues To Collapse – Here’s Why\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/nft\\\/axie-infinity-revenue-continues-to-collapse-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/nft\\\/axie-infinity-revenue-continues-to-collapse-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Axie-Infinity.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Axie-Infinity.png?fit=787%2C446\"},\"articleSection\":\"AXS\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"axie\",\"axie infinity\",\"axs\",\"p2e\",\"play-to-earn\"],\"dateCreated\":\"2022-06-08T07:18:27Z\",\"datePublished\":\"2022-06-08T07:18:27Z\",\"dateModified\":\"2022-06-08T07:18:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Axie-Infinity.png?fit=787%2C446","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/492539"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=492539"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/492539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/492540"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=492539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=492539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=492539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}