The boom in the ‘play-to-earn’ creative economy consisting of non-fungible tokens (NFT) has created a shock in the ‘market crash’ that has not fully recovered has become a concern in the crypto market.
Axie, a project inspired by the popular game of pokemon is one of the lesser-known coins to investors has sparked its revolution in the NFT industry recording the latest all-time high (ATH) level in a row in the past few days.
What’s even more impressive is that Axie Infinity has generated more revenue than Aave, Compound, Uniswap, and decentralized financial protocols (DeFi) over the past 30 days.
Axie Infinity generates revenue from Axie sales, land sales, axie breeding fees and market fees.
Interesting if you look closely at the current movement chart of the AXS/USDT price.
When the AXS analysis article was released a few days ago, the AXS was trading around $ 8.0 producing over 170% positive gains.
However, consistently the price movement has produced over 400% increase since the end of June until yesterday with the latest all -time high (ATH) reaching the price of $ 16.61.
From a technical point of view, the price movement still remains with the upward momentum and has passed the RBS zone (resistance become support) around $ 13 where the price movement is seen hovering above that level either to make a price correction (correction) or continue to rise.
As for further expectations, if the price movement remains with its moving momentum, the resistance level around $ 15 will be the next focus to be tested before making a higher rise or recording the latest all -time high (ATH) level again.
Meanwhile, if the AXS price movement shows a bearish trend again, the price movement will retest the RBS zone around $ 13 before making a lower decline and will be the next observation by investors.
At the time of writing, the AXS/USDT is trading at a price of around $ 14.7 with a market value of over $ 898 million in the last 24 hours. AXS coins simultaneously took over the top 100 in the market with 81st position.
