Axie Infinity

In a month that saw Axie Infinity (AXS) experience an impressive 33% price surge, the crypto community is now closely eyeing an upcoming token unlock event.  The on-chain market depth chart raises concerns as sell-orders accumulate, suggesting a potential price correction in the offing. At the same time, the steady rise in AXS Mean Coin Age indicates a positive sentiment among investors, who are keen on staking their tokens for alluring rewards.Token Unlocks, a Tokenomic insights platform shared AXS surge in a Twitter thread:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3918aed81f2c4937896490421b462809.png" />Scheduled for June 22, the token unlock would <a href="https://token.unlocks.app/axie-infinity" rel="noopener noreferrer nofollow">unleash</a> a substantial 3.63 million AXS tokens, valued at approximately $22 million based on the current price. As the unlocking date nears, traders are cautiously approaching the situation, wary of potential price volatility.In contrast to a previous token unlock <a href="https://finance.yahoo.com/news/axs-nurses-losses-axie-infinitys-083112668.html" rel="noopener noreferrer nofollow">event</a> in April 2023, which led to a price correction, this unlock is designed to incentivize holders who have staked their tokens. The response from investors has been enthusiastic, with many choosing to hold onto their AXS tokens and actively participating in staking, contributing to the impressive 33% price rally. The prospect of staking rewards has become increasingly appealing, attracting more investors looking to capitalize on the upcoming unlock.-Read full article at <a href="https://cryptotale.org/axs-traders-cautious-ahead-of-token-unlock-potential-price-correction/" rel="noopener noreferrer nofollow">CryptoTale.</a>

AXS Traders Cautious Ahead of Token Unlock: Potential Price Correction?

CryptoTale

Other articles published on Jul 20, 2023

XRP Price Poised for New Record Amid $250 Trillion News? The Latest on XRP Price

Polkadot Price Prediction: DOT Price Surges As BTC Rallies

Neither SHIB nor PEPE! Memecoin King Predicted to Surge 600% by Analysts

This Metric Reveals Much! Bold Bitcoin Analysis from the Expert!

Join the Crypto Revolution with Yuse: Your Ultimate Gateway to Crypto Investment

Crypto Insurance Titans Evertas and Bitsure Merge, Boosting Crypto Mining Coverage

Join our free newsletter for daily crypto updates!