In this article, we will analyze the AXS coin, which is in fifty-third place behind Bitcoin, according to www.coinmarketcap.com data. First, we will discuss the AXS coin and its projects and make a technical and graphic analysis. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is AXS Coin?
AXS (Axie Infinity Shard) is the native cryptocurrency of the Axie Infinity platform, a blockchain-based game that allows players to collect, breed, and battle fantasy creatures called Axies. The game is built on the Ethereum blockchain and uses non-fungible tokens (NFTs) to represent each Axie.
The primary purpose of AXS is to facilitate transactions within the Axie Infinity ecosystem, such as purchasing Axies, land, and other in-game assets. It can also be staked to earn rewards and participate in governance decisions related to the platform.
What are the projects of AXS?
As for the projects of AXS coin, the Axie Infinity team is constantly working on new developments and updates to improve the platform and enhance the user experience. Some of the notable projects include:
Ronin sidechain– A Layer 2 scaling solution explicitly built for Axie Infinity, allowing for faster and cheaper transactions.
Land gameplay– The team is working on introducing new gameplay features related to land ownership, including the ability to farm resources, build structures, and participate in community events.
Governance– AXS holders can participate in governance decisions related to the platform, such as proposing and voting on changes to the game mechanics or token economics.
Axie Infinity SDK– The team is developing a software development kit (SDK) to allow developers to create their games and applications on top of the Axie Infinity platform.
These are just a few examples of the many ongoing projects within the Axie Infinity ecosystem, demonstrating the team’s commitment to continued innovation and growth.
AXS COIN TECHNICAL ANALYSIS
AXS reached its highest value of $ 166.09 in November 2021 and has decreased by 95% since that date and is traded at $ 8.23 at the time of writing. According to www.coinmarketcap.com data, AXS, which has a size of $951,980,713, has had a volume of $ 37,634,000 in the last twenty-four hours.
AXS Chart Analysis
AXS, which fell 95% after hitting its high of $166.09 in November 2021, has been trying to stay above the $6.33 support since November 2022. AXS, likely to face a much harder sell if the $ 6.33 support is broken down, must start closing above the $11.63 resistance to rise. This week’s support zone is $6.33, while our resistance zone will be $11.63.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding.This article does not contain investment advise or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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