AXS Token Soars 45% Despite Decline in Axie Infinity Players
This past week saw the value of the AXS Token, associated with blockchain-based pet collectibles game, Axie Infinity, soar 45%. To the uninitiated, this might come as a strange move since the popular game has in fact seen a decline in total users over the past month.
But what could be a problem for most games is actually having a bullish effect on the price of AXS.
What The Heck Is Going On?
The AXS Token is used mainly as a form of governance within Axie Infinity. It allows members of the community to vote on certain protocol changes. As a result, an increasing number of users are buying AXS in order to participate in these important decisions.
Additionally, recent governance tokens sales by Axie Infinity have contributed to the rise in AXS price. While user numbers might be decreasing, the number of people buying AXS for governance just keeps rising.
Outlook For The Future
It seems governance tokens are becoming a more important part of the Axie Infinity landscape. This means the AXS Token will continue to remain the key to participation in the game’s governance, and that is likely to propel the token’s value even higher in the future.
So if you’re an Axie Infinity player or a cryptocurrency investor looking to make a quick buck, you might want to consider buying some AXS before the bulls take us even higher…or before the bears decide to make a surprise appearance.
Things To Consider Before You Buy
While buying AXS can be a way to earn some profits, do your due diligence before you dive into the pool. Here are a couple of things to think about beforehand:
- Verify The Platform Is Legit – Investing in anything requires research. Make sure the platform you’re investing in is real and trustworthy.
- Stay Informed – Join some of the official Axie Infinity groups so that you can stay up to date with the latest trends and news related to the game and its governance.
- Don’t Gamble – Don’t be reckless when it comes to investments. Only invest the money you’re prepared to lose.
And remember, if it seems too good to be true, think twice before investing!
