AXS moves up to the 50 most valuable cryptocurrency projects, is now the right time to buy?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Aug 17, 2021
  • The price of Axie Infinity tokens called shards continues to grow.
  • Axie Infinity market valuation has pushed it to the top 50 most valuable crypto capitalization positions.
  • This Ethereum-based gaming community that uses the Axie Infinity network is trending higher and higher.

Axie Infinity AXS/USD has become one of the most popular blockchain games out there. 

Originally inspired by games such as Pokémon, it features flexible gameplay which allows players to get different pets, all of which are known as “Axies” which can be raised, battled and even traded throughout the ecosystem. 

The increase in popularity as a catalyst for growth

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

In fact, based on statistics from Google Trends (GT) data, we can see that the search query for Axie Infinity gained the highest traction a term can get for the week between July 11 to 17.

In fact, further starts from similarweb, indicate that, we can see that the website started kicking off in April, with its biggest spike occurring in June, where it now sits at 22.6 million visits.

Furthermore, the trading volume of Axie Infinity (AXS) has increased by 20% in the span of the last 24 hours, which indicates a heightened interest in the cryptocurrency and game as a whole.

Should you buy Axie Infinity (AXS)?

On August 17, Axie Infinity (AXS) was worth $69.76.

That being said, its all-time high value is actually really close, at $75.73 which was gained on August 11. That’s just an 8% difference, which signals that it might have the potential to climb back up to that value.

Furthermore, its recent growth has been nothing short of amazing. If we take a look at July for example, on July 1, it had its lowest value at $5.54, and it got up to $52.18 on July 27. That’s an increase of 841% throughout the month.

That being said, Axie Infinity (AXS) is a worthwhile purchase, especially given its recent rise to popularity and tremendous growth. 

It achieved the highest transaction a term can get on Google Trends, at 100, and it saw 22.6 million website visits. Furthermore, its trading volume has increased by 20% as a result of this, and it’s clear that the game is potentially at its prime and will gather a lot more players going forward.

Furthermore, when we look at data from IntoTheBlock, we can see that AXS saw $15.39 million in transactions greater than $100,000 in the span of the last 7 days.

This put Axie Infinity in the top 50 cryptocurrency projects, and it currently sits at 35.

As for the potential the token has on climbing, it is clear that it shows no signs of stopping and can even outperform its all-time high and grow to potentially $77 by the end of August at this rate.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >