Token

DappRadar

Axie Infinity

MN Coin

<a href="https://bitcoinworld.co.in/axie-infinity-sees-player-exodus-as-axs-price-downtrend-resumes/" title="Axie Infinity Sees Player Exodus as AXS Price Downtrend Resumes" rel="noopener noreferrer nofollow"></a> 
Axie Infinity, the leading play-to-earn (P2E) blockchain game, faces turbulent times as its player base dwindles to the year’s lowest point. As reported by activeplayer.io, the grim statistics reveal a stark decline in the average monthly player count, painting a concerning picture for the once-thriving virtual world. 
Data from the source mentioned above indicates that the monthly average player count on Axie Infinity, which soared to a peak of 2.70 million in February 2022, has now nosedived to less than 500,000 players by August 2023. This slump translates to a year-to-date decrease of 19%, signifying a substantial erosion of the game’s user base. 
The past 30 days have further exacerbated Axie Infinity’s woes, with DappRadar data showing a general downturn in user activity. Unique active wallets (UAW), those engaging with the game’s smart contracts, dwindled by 16% during this period, amounting to a mere 74,000. 
This reduced user count naturally manifested in a drop in transaction volume. Over the same month, the game witnessed a transaction count of only 1 million, reflecting an 11% month-over-month decrease. 
Consequently, this dwindling user activity and transaction volume have affected Axie Infinity’s financial performance. Over the past 90 days, user fees and revenue have plummeted by a substantial 53%, per Token Terminal data. 
On the price front, AXS, the native token of Axie Infinity, experienced a brief respite with a 6% price increase in the previous week, as reported by CoinMarketCap. However, this uptick came after a rollercoaster ride with a remarkable 19% intraday surge on September 14th. 
The extraordinary price rally coincided with a sudden surge in the count of unique active wallets on the platform that day. Data from DappRadar revealed a staggering 77% increase in active wallets, potentially fueled by a short squeeze event and quick liquidations. 
Nevertheless, as market euphoria dwindles, AXS is returning to its pre-September 14th price levels, currently trading at $4.51. On the spot market, token distribution has outpaced accumulation, indicating that sellers now have the upper hand. The Directional Movement Index (DMI) supports this notion, with the negative directional index exceeding the positive directional index. 
Lastly, the Chaikin Money Flow (CMF) has dipped into the negative zone, indicating a significant liquidity outflow from AXS’s spot markets. This could lead to a further decline in the token’s value if market sentiment fails to improve. In sum, Axie Infinity’s challenges are mounting, with a dwindling player base and a resumption of the AXS price downtrend painting a challenging future for the P2E giant. 
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The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/axie-infinity-sees-player-exodus-as-axs-price-downtrend-resumes/">Axie Infinity Sees Player Exodus as AXS Price Downtrend Resumes</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Axie Infinity Sees Player Exodus as AXS Price Downtrend Resumes

ItsBitcoinWorld

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