The price is currently confronting a week-long barrier at $13.98, a milestone that, if achieved, would pave the way for further gains.Īn increase in buying pressure from the current position could open the path for the crypto gaming token to target the $13.98 hurdle. The price was sitting on the support at $11.18 after the bulls flipped it from resistance on January 22. Will AXS Make The 37% Jump?Īt the time of writing, the AXS token was trading at $11.27 after losing all the gains made on Sunday. Nevertheless, investors and gamers still preserve their faith, given Axie’s reputation with a transparent roadmap for the ecosystem’s progress. Unlocks are normally bearish catalysts as the value of a token drops after unlocking because the process releases more coins into the market hence supply rises, demand falls, and with it, the price.īased on the TokenUnlocks website, a dashboard using on-chain data to track tokens and inform users of an upcoming event, Axie Infinity’s unlock saw creators release 1,8% of the total coins or 4.89M tokens (~$63.32M). 4.89 million AXS tokens ($63.18m) will be unlocked on January 23 RON will be unlocked on January 27 about 42.93m (about $24.25m) IMX will be unlocked on January 28. Token Unlocks shows that AXS, ACA, GAL, RON, YGG, and IMX will be unlocked this week. Introducing new tokens seems to have ignited a sell-off, causing AXS token price to plunge back to its $11.18 support. The Axie Infinity ecosystem unleashed a massive influx of AXS tokens valued at $63 million.

Axie Releases $63M AXS Tokens During Token Unlocks Event

The move comes in light of the impending unlocking of tokens worth millions of dollars. CoinMarketCap data shows that AXS token price is down 4.22% in the last day, slightly lower than its four-month high of $13.94 on January 23. The value of the AXS token, issued by play-to-earn (P2E) giant Axie Infinity, has increased almost 90% since the New Year, raising the price from the $6.0 support floor to the current price of $11.26. Join Our Telegram channel to stay up to date on breaking news coverage

Axie infinity coin price prediction