Cryptocurrency

Axie Infinity

Rewards

<div class="finbold">
 <p class="paragraph">Axie Infinity (AXS) positioned itself among the leading and most popular ‘play-to-earn’ blockchain games during 2021’s gaming mania in the cryptocurrency market. The project gathered hundreds of thousands of players, attracting investors and speculators due to its financial nature.</p>
 <div></div>
 <p class="paragraph">However, Axie Infinity’s native token could suffer a significant impact in price until October 20, as 15.13 million AXS ($64.44 million) of new tokens will be put into circulation on this day. According to data retrieved by Finbold from <em>token.unlocks.app</em> on October 14.</p>
 <p class="paragraph">Notably, this <a rel="noopener noreferrer nofollow" title="massive" href="https://thebittimes.com/tag/massive.html">massive</a> <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> amounts to 11.5% of Axie Infinity’s current circulating supply of 141.31 million AXS, overcoming the total exchanged volume of $40.12 million for the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> in the last 24 hours from press time. Considering the market’s uncertainty, a sell-off event could drive the project’s price further down.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="554" height="292" src="https://cdn.thebittimes.com/images/2023/10/14/684548ba7fa8675504cd1516be35dd1f.webp" alt="Axie Infinity (AXS) market data.
" class="wp-image-132589" srcset="https://cdn.thebittimes.com/images/2023/10/14/684548ba7fa8675504cd1516be35dd1f.webp 554w, https://cdn.thebittimes.com/images/2023/10/14/684548ba7fa8675504cd1516be35dd1f.webp 300w" sizes="(max-width: 554px) 100vw, 554px">
  <figcaption class="wp-element-caption">
   Axie Infinity (AXS) market data. Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <p class="paragraph">From the total <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a>ed amount, distribution will be as follows:</p>
 <ul>
  <li><strong>Team (40%)</strong>: 6.08 million AXS ($25.91 million)</li>
  <li><strong>Advisors (3.66%)</strong>: 554,750 AXS ($2.36 million)</li>
  <li><strong>Play to Earn (22%)</strong>: 3.38 million AXS ($14.38 million)</li>
  <li><strong>Ecosystem Fund (11%)</strong>: 1.69 million AXS ($7.19 million)</li>
  <li><strong>Staking Rewards (23%):</strong> 3.43 million AXS ($14.59 million)</li>
 </ul>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="869" src="https://cdn.thebittimes.com/images/2023/10/14/825b68e92f96b84e3db9029979fb4be3.webp" alt="Axie Infinity (AXS) token unlock on October 20" class="wp-image-132590" srcset="https://cdn.thebittimes.com/images/2023/10/14/825b68e92f96b84e3db9029979fb4be3.webp 1024w, https://cdn.thebittimes.com/images/2023/10/14/825b68e92f96b84e3db9029979fb4be3.webp 300w, https://cdn.thebittimes.com/images/2023/10/14/825b68e92f96b84e3db9029979fb4be3.webp 768w, https://cdn.thebittimes.com/images/2023/10/14/825b68e92f96b84e3db9029979fb4be3.webp 1334w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Axie Infinity (AXS) token unlock on October 20. Source: <em>token.unlocks.app</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-axie-infinity-axs-price-analysis">Axie Infinity (AXS) price analysis</h2>
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 <p class="paragraph">Meanwhile, Axie Infinity is exchanging hands at $4.27 by press time, with a daily increase of 1.02% in the last 24 hours. AXS has lost close to 15% of its value in the month (last 30 days), moving from $5.02 to current prices. This indicates that the market could have already been pricing the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a>.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/10/14/14d3010ed928e94e44d29748089ae64a.webp" alt="AXS 1-month price chart" class="wp-image-132591" srcset="https://cdn.thebittimes.com/images/2023/10/14/14d3010ed928e94e44d29748089ae64a.webp 1024w, https://cdn.thebittimes.com/images/2023/10/14/14d3010ed928e94e44d29748089ae64a.webp 300w, https://cdn.thebittimes.com/images/2023/10/14/14d3010ed928e94e44d29748089ae64a.webp 768w, https://cdn.thebittimes.com/images/2023/10/14/14d3010ed928e94e44d29748089ae64a.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   AXS 1-month price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">It is important to say that the order book for the highest volume pair (AXS/USDT on Binance) has around only 163,266 AXS buying orders from $4.2 to $2.5 per Axie Infinity token, at the time of publication.</p>
 <p class="paragraph">Meaning that, if only 1% of the unlocked total on October 20 is sold in a single order on Binance for USDT, the order book would be completely whipped, driving AXS price to $2.5. Despite this being an unlikely scenario, it helps to demonstrate the weight of the reported upcoming event.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="628" height="788" src="https://cdn.thebittimes.com/images/2023/10/14/f5572022f85b7827bccd59a77c1fa8ca.webp" alt="AXS/USDT order book." class="wp-image-132592" srcset="https://cdn.thebittimes.com/images/2023/10/14/f5572022f85b7827bccd59a77c1fa8ca.webp 628w, https://cdn.thebittimes.com/images/2023/10/14/f5572022f85b7827bccd59a77c1fa8ca.webp 239w" sizes="(max-width: 628px) 100vw, 628px">
  <figcaption class="wp-element-caption">
   AXS/USDT order book. Source: Binance
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, it is impossible to know the real impacts on AXS price, with more tokens being put into circulation through this unlock. Price action will depend on further developments related to Axie Infinity, as well as the general sentiment on the wider cryptocurrency market and macroeconomic landscape.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/axie-infinity-massive-token-unlock-ahead-what-s-next-for-axs-tbt66378.html">https://thebittimes.com/axie-infinity-massive-token-unlock-ahead-what-s-next-for-axs-tbt66378.html</a></p>

Axie Infinity massive token unlock ahead, What’s next for AXS?

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