{"id":3439,"date":"2021-12-03T17:00:35","date_gmt":"2021-12-03T09:00:35","guid":{"rendered":"https:\/\/blog.btse.com\/?p=3439"},"modified":"2023-06-27T10:13:37","modified_gmt":"2023-06-27T10:13:37","slug":"axs-market-snapshot-can-it-push-beyond-this-bearish-phase","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/","title":{"rendered":"AXS Market Snapshot: Can It Push Beyond This Bearish Phase?"},"content":{"rendered":"

A snapshot of AXS\u2019s price analysis may offer insights on the token\u2019s outlook and crypto markets overall.<\/span><\/i><\/p>\n

Axie Infinity Shards<\/span><\/a> (AXS) has been undergoing a bullish streak since it hit an all-time high on November 6, 2021. The coin managed to get to $165.37 before later correcting to below the $150 mark. Its price on December 2, 2021, went down 19.4% since its ATH to land at an average of $132.57; this value is over 7% lower than the close at $141.97 on December 1, 2021.<\/span><\/p>\n

Despite the buzz around the play-to-earn gaming platform, there has been a bearish outlook for the crypto market at large. Considering its positive correlation with the top 10 coins in the market, AXS might suffer if those others drop. Currently, AXS is <\/span>ranked 23rd by market cap<\/span><\/a>, overtaking older coins due to its lucrative capabilities.<\/span><\/p>\n

It has set its primary support level at around $124 and the resistance level at around $143. Still, the AXS market stands as bearish despite having more positive price action than negative.\u00a0<\/span><\/p>\n

 <\/p>\n

What Axie Infinity Brings to the Crypto Space<\/b><\/h2>\n

Axie Infinity<\/span><\/a> is among the top-ranked blockchain games of the year, allowing users the opportunity to participate in its ecosystem using the AXS and Smooth Love Potion (SLP) tokens. Players leverage Axies for in-game battles and possible non-fungible token (NFT) products. The platform has managed over 90,000 Ethereum (ETH) in trade with the most expensive Axie sold standing at 300 ETH.<\/span><\/p>\n

AXS as an ERC-20 governance token plays a key part in how the Axie Infinity game works. It enables users to be involved in decisions on Axie Infinity\u2019s future, including any updates.\u00a0<\/span><\/p>\n

Axie players can lock their coins in its pool to garner staking rewards from newly minted AXS. The staking rewards are part of an incentive system that ensures continued support of the ecosystem by players. AXS tokens are currently available on exchanges like <\/span>BTSE<\/span><\/a>, Binance, and Uniswap.<\/span><\/p>\n

Blockchain games offer a new outlook of the gaming industry, progressing it to suit new and pro players alike. That much has been visible during the COVID-19 pandemic, which led to stringent lockdown regulations to limit its spread. As such, more people entered the online gaming space to pass time and meet new people.<\/span><\/p>\n

Axie Infinity came into being in late 2020, holding <\/span>its initial exchange offering<\/span><\/a> (IEO) in November and AXS selling at an initial price of $0.1. Since the IEO, it is safe to say that the coin has been more bullish than bearish, garnering massive attention from the crypto and gaming space.\u00a0<\/span><\/p>\n

 <\/p>\n

High Trading Volumes and a Year-end Comeback?<\/b><\/h2>\n

Today, AXS has a market dominance of 0.33%, showing the lengths it has come since its IEO. In the half year since June 2021, the coin\u2019s price has risen by 3,400% overall and more than 1,900% against Bitcoin (BTC). Its trading volumes are high despite bearish sentiment over the past few days, hitting over $380 million on December 2, 2021, and up by over 84% compared to November 28, 2021.<\/span><\/p>\n

According to recent announcements, Axie Infinity has joined the pro gaming space. It recently held its <\/span>FTX GalAxie Cup Tournament<\/span><\/a> in November, and its community was particularly receptive to the event, which helped drive up the token\u2019s trading volume.\u00a0<\/span><\/p>\n

As such, this event could contribute to a further bullish spell in the markets. Looking at the possible futures, the coin could go above $200 within a month. However, it is probable to go below the $120 mark in the short term if it goes under the $124 support level.<\/span><\/p>\n

 <\/p>\n

Trade AXS <\/span>here<\/span><\/a>.<\/span><\/p>\n

Stake AXS <\/span>here<\/span><\/a>.<\/span><\/p>\n

Deposit AXS <\/span>here<\/span><\/a>.<\/span><\/p>\n

 <\/p>\n

\n

Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i>feedback@btse.com<\/i><\/a> or on Twitter @BTSE_Official.<\/i><\/p>\n

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

A snapshot of AXS\u2019s price analysis may offer insights on the token\u2019s outlook and crypto markets overall. Axie Infinity Shards (AXS) has been undergoing a bullish streak since it hit an all-time high on November 6, 2021. The coin managed to get to $165.37 before later correcting to below the $150 mark. Its price on […]<\/p>\n","protected":false},"author":1,"featured_media":6464,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-3439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-insights"],"yoast_head":"\nAXS Market Snapshot: Can It Push Beyond This Bearish Phase? — BTSE Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AXS Market Snapshot: Can It Push Beyond This Bearish Phase?\" \/>\n<meta property=\"og:description\" content=\"A snapshot of AXS\u2019s price analysis may offer insights on the token\u2019s outlook and crypto markets overall. Axie Infinity Shards (AXS) has been undergoing a bullish streak since it hit an all-time high on November 6, 2021. The coin managed to get to $165.37 before later correcting to below the $150 mark. Its price on […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/\" \/>\n<meta property=\"og:site_name\" content=\"BTSE Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-03T09:00:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-27T10:13:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.btse.com\/blog\/wp-content\/uploads\/2021\/12\/AXS-Market-Snapshot-Can-It-Push-Beyond-This-Bearish-Phase.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"BTSE\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BTSE_Official\" \/>\n<meta name=\"twitter:site\" content=\"@BTSE_Official\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"BTSE\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"AXS Market Snapshot: Can It Push Beyond This Bearish Phase? — BTSE Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/","og_locale":"en_US","og_type":"article","og_title":"AXS Market Snapshot: Can It Push Beyond This Bearish Phase?","og_description":"A snapshot of AXS\u2019s price analysis may offer insights on the token\u2019s outlook and crypto markets overall. Axie Infinity Shards (AXS) has been undergoing a bullish streak since it hit an all-time high on November 6, 2021. The coin managed to get to $165.37 before later correcting to below the $150 mark. Its price on […]","og_url":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/","og_site_name":"BTSE Blog","article_published_time":"2021-12-03T09:00:35+00:00","article_modified_time":"2023-06-27T10:13:37+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.btse.com\/blog\/wp-content\/uploads\/2021\/12\/AXS-Market-Snapshot-Can-It-Push-Beyond-This-Bearish-Phase.png","type":"image\/png"}],"author":"BTSE","twitter_card":"summary_large_image","twitter_creator":"@BTSE_Official","twitter_site":"@BTSE_Official","twitter_misc":{"Written by":"BTSE","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/#article","isPartOf":{"@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/"},"author":{"name":"BTSE","@id":"https:\/\/www.btse.com\/blog\/#\/schema\/person\/46ad80e1bffe6cf5d79938127822f2ca"},"headline":"AXS Market Snapshot: Can It Push Beyond This Bearish Phase?","datePublished":"2021-12-03T09:00:35+00:00","dateModified":"2023-06-27T10:13:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/"},"wordCount":668,"publisher":{"@id":"https:\/\/www.btse.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.btse.com\/blog\/wp-content\/uploads\/2021\/12\/AXS-Market-Snapshot-Can-It-Push-Beyond-This-Bearish-Phase.png?fit=1920%2C1080&quality=75&ssl=1","articleSection":["Market Insights"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/","url":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/","name":"AXS Market Snapshot: Can It Push Beyond This Bearish Phase? — BTSE Blog","isPartOf":{"@id":"https:\/\/www.btse.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/#primaryimage"},"image":{"@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.btse.com\/blog\/wp-content\/uploads\/2021\/12\/AXS-Market-Snapshot-Can-It-Push-Beyond-This-Bearish-Phase.png?fit=1920%2C1080&quality=75&ssl=1","datePublished":"2021-12-03T09:00:35+00:00","dateModified":"2023-06-27T10:13:37+00:00","breadcrumb":{"@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/#primaryimage","url":"https:\/\/i0.wp.com\/www.btse.com\/blog\/wp-content\/uploads\/2021\/12\/AXS-Market-Snapshot-Can-It-Push-Beyond-This-Bearish-Phase.png?fit=1920%2C1080&quality=75&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.btse.com\/blog\/wp-content\/uploads\/2021\/12\/AXS-Market-Snapshot-Can-It-Push-Beyond-This-Bearish-Phase.png?fit=1920%2C1080&quality=75&ssl=1","width":1920,"height":1080,"caption":"AXS Market Snapshot: Can It Push Beyond This Bearish Phase?"},{"@type":"BreadcrumbList","@id":"https:\/\/www.btse.com\/blog\/axs-market-snapshot-can-it-push-beyond-this-bearish-phase\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.btse.com\/blog\/"},{"@type":"ListItem","position":2,"name":"AXS Market Snapshot: Can It Push Beyond This Bearish Phase?"}]},{"@type":"WebSite","@id":"https:\/\/www.btse.com\/blog\/#website","url":"https:\/\/www.btse.com\/blog\/","name":"BTSE Blog","description":"Navigating the Crypto Frontier - Insights, Analysis, and Strategies","publisher":{"@id":"https:\/\/www.btse.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.btse.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.btse.com\/blog\/#organization","name":"BTSE","url":"https:\/\/www.btse.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.btse.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.btse.com\/blog\/wp-content\/uploads\/2023\/03\/btse-logo.png","contentUrl":"https:\/\/www.btse.com\/blog\/wp-content\/uploads\/2023\/03\/btse-logo.png","width":1007,"height":306,"caption":"BTSE"},"image":{"@id":"https:\/\/www.btse.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/BTSE_Official","https:\/\/discord.com\/invite\/btse","https:\/\/www.linkedin.com\/company\/btsecom\/","https:\/\/t.me\/btsecom"]},{"@type":"Person","@id":"https:\/\/www.btse.com\/blog\/#\/schema\/person\/46ad80e1bffe6cf5d79938127822f2ca","name":"BTSE","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/dc01110861deb9c4a6b15c6c841e4457320749d7c005164340fbf8d4eacefc5d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/dc01110861deb9c4a6b15c6c841e4457320749d7c005164340fbf8d4eacefc5d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/dc01110861deb9c4a6b15c6c841e4457320749d7c005164340fbf8d4eacefc5d?s=96&d=mm&r=g","caption":"BTSE"},"sameAs":["https:\/\/www.btse.com\/blog"],"url":"https:\/\/www.btse.com\/blog\/author\/btseadmin\/"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.btse.com\/blog\/wp-content\/uploads\/2021\/12\/AXS-Market-Snapshot-Can-It-Push-Beyond-This-Bearish-Phase.png?fit=1920%2C1080&quality=75&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/posts\/3439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/comments?post=3439"}],"version-history":[{"count":3,"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/posts\/3439\/revisions"}],"predecessor-version":[{"id":7680,"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/posts\/3439\/revisions\/7680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/media\/6464"}],"wp:attachment":[{"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/media?parent=3439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/categories?post=3439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.btse.com\/blog\/wp-json\/wp\/v2\/tags?post=3439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}