Axie Infinity price down More Than 40% Since All-Time High

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Axie Infinity price down More Than 40% Since All-Time High: Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days.

The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin.

Another token that’s used within the game is a coin called smooth love potion (SLP) and the crypto asset has also seen its value drop since tapping an all-time high (ATH). However, SLP tapped an ATH two days before AXS did when it reached $0.39 per unit.

While battling in Axie Infinity’s adventure mode, players can earn SLP as rewards. SLP has lost 4.3% during the last week and 24-hour statistics show SLP is down 8.6%. SLP has a market capitalization of $133 million on Monday while AXS commands a market valuation of around $922 million.

Axie Infinity’s protocol revenue Towers Over Competition, Tether Is Axie Infinity Token’s Biggest Pair Capturing 83% of AXS Trades

Meanwhile, statistics from indicate that as far as protocol revenue is concerned, Axie Infinity towers over the competition. Axie Infinity’s protocol revenue eclipses projects like Pancakeswap, Metamask, Maker DAO, Sythetix, and Sushiswap.

While the second-place position Pancakeswap’s 30-day statistics show $11.9 million in protocol revenue, Axie Infinity’s is 84.9 million. Seven-day records show Axie Infinity’s protocol revenue was 38.3 million while Pancakeswap saw $2.3 million. AXS is 42.8% down from the coin’s ATH and SLP is down 38.4% from its ATH.

The biggest pair with AXS on Monday is tether (USDT) as it commands 83.88% of all AXS trades according to stats. Tether is followed by BUSD (7.71%), BTC (6.41%), USD (0.97%), and BNB (0.84%). While SLP is down more than 38% today, the token is still up 93.6% during the last three months. AXS has done a lot better as the token is up 87.5% in just two weeks, and three-month data shows AXS is still up 281.4% despite this week’s losses.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

About Haruna Magaji 2587 Articles
Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - [email protected]

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