Īs the chart above shows, there was a particularly steep drop-off in February. Users (yellow), volume (purple), and transactions (blue) on Axie Infinity since February 2021. The reasons are myriad but could be linked to a failing tokenomic design and the recent $622 million hack of Axie Infinity's Ronin sidechain.Īxie Infinity is hemorrhaging users at an alarming rate.Īccording to data pulled from DappRadar, the number of users on the platform had peaked at roughly 63,000. Though Axie Infinity was one of 2021’s breakout crypto projects, it has since fallen on hard times.
The SLP token is currently trading at a little over a penny and is down around 2.6% over the past 24 hours.Īdditionally, users can spend money on digital plots of land within the Axie universe represented as NFTs. Today’s prices indicate a drop of more than 81% since then.ĪXS is one of two in-game tokens for the Pokémon-esque crypto game Axie Infinity.Īlongside this token, users can also purchase NFTs representing Axies, creatures that you use to duel against opponents the winners earn Smooth Love Potion (SLP) tokens which are either sold for another currency or destroyed to “mate” Axies and create more. Last November, AXS hit an all-time high of $165.37. Users who hold this token can participate in various proposals, such as how the platform’s treasury should be spent and in-game mechanics. Just last month, AXS was worth just under $75 per token. The Axie Infinity governance token is now trading at $30.39, according to CoinMarketCap. fails.AXS, the token powering play-to-earn crypto game Axie Infinity, has dropped nearly 30% over the past seven days. ZipUp+ products are not defined as “deposits” under Section 4B of the Banking Act and hence there is no insurance by the Singapore Deposit Insurance Corporation Limited in the event if Zipmex Pte.
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