Why does AXS continue to increase in the market while others experience dumps?

[Davian144]

Usually when Bitcoin declines or dumps by a few percent, almost all Altcoins also experience the same thing, but I found a surprising thing today where AXS continues to increase in price up to 40% which seems to have no connection or influence from Bitcoin decline.
The question is whether this is a trap or just an increasing buy demand?

[makishart]

The question is whether this is a trap or just an increasing buy demand?

You must do a deep research before try to think if that was a trap. AXS has limited supply and AXS was not getting affected by bitcoin. This is a common thing if there was a coin that can stand without the help by bitcoin. This was the main reason. The buy demand was increasing a lot as the staking for AXS already started with great APY. People are rushing to buy AXS to be staked into the AXS (ronin) network https://stake.axieinfinity.com/

The total value locked on the AXS staking was increasing a lot since a few days ago. We can expect if more coins were coming from the circulating supply in the market.
This is making the value was increasing a lot.

[khiholangkang]

The question is whether this is a trap or just an increasing buy demand?

Coin/token goes up while another dumps, usually because the project is getting good news. So market conditions have no effect on the token.

[Davian144]

The question is whether this is a trap or just an increasing buy demand?

Coin/token goes up while another dumps, usually because the project is getting good news. So market conditions have no effect on the token.

Good, I also thought that way so I felt that something was going on with AXS so that the coin experienced an increase in price in the middle of a market that was not very stable at all and amidst others being stuck without a good increase in the market

[Adbitco]

Actually not all ALTcoin goes down when it happens that BTC declines, we have gainers and losers in CMC so most time when market is dip those currencies gain strength while others follows the dip.
Here solve your questions https://coinmarketcap.com/gainers-losers/

[bitcon]

You are right that there is usually a correlation between Bitcoin’s price and prices of altcoins, but there can be exceptions. As there is a hype around NFT-gaming now, and Axie Infinity is one of the most successful examples of such NFT-games, demand is still high and it supports the price!

But when the hype is over, it will also dump as investors will abandon this sphere. 

[babygun]

You are right that there is usually a correlation between Bitcoin’s price and prices of altcoins, but there can be exceptions. As there is a hype around NFT-gaming now, and Axie Infinity is one of the most successful examples of such NFT-games, demand is still high and it supports the price!

But when the hype is over, it will also dump as investors will abandon this sphere. 

It is currently indeed one of the best blockchain games out there, but I wouldn't buy any AXS right now. Price has risen already way too much thanks to the hype but when it falls back (and it will), than the dump will be severe. We have seen the same with TLM (from Alienword), that also got hyped massively at a certain moment but the hype was short lived.

[el kaka22]

It is living a very independent life because it is providing income for people. If you own 12 axies, there is no reason why you should not own 15, if you own 15 there is no reason you should not own 18. This causes people to buy as much as hundreds of axies, and in order to breed axies you need to have AXS as well. This means people are breeding their axies like crazy to own more and more of them. And since the price of AXS goes up, the value of their axies goes up as well.

People also try to breed good ones to create even better ones or at least another good one, because if you spend 200-300 dollars on creating one, but get a good one that worths 500 or even more then you make a great profit, if you do not and it is a horrible one you can still sell it for a small profit, or at least break even. This is why people know that there is no loss in axie world unless you do something very idiotic, and why would anyone drop the price of something by selling a lot if it is making them a profit?

[stadus]

Overall the market is still bullish, take a look at the big picture and see the last 7 days' performance of the top 100 altcoins and you will see it as positive or bullish. https://coinmarketcap.com/

Axie Infinity or AXS has achieved its ATH, it's normal in the bull run and this project is really hype right now, so it's expected that it will happen and those who were able to ride it should be happy now, but actually this is normal in crypto, some coins go up, some goes down, it's called volatility.

[GreatArkansas]

This is one of the best examples of a project that is following and sticking to their roadmap.
As you can see on their whitepaper, they have this roadmap and everything is aligning especially this staking part of AXS which is for Q4 of this year, so they delivered it and for sure this is one of the reasons because of pumps and yesterday, they have this some leak about V2 of battle, which kinda another next level especially for user interface and more updates about the game.

[cabron]

They've announced staking recently, it may have allured more gamers to invest. The last time it dips, many users managers wanna be are buying characters for only 0.1ETH which is cheaper than the usual. Now they have more investors.

If you think this is hype, it may still be when the bear market starts, it's yet not known when to happen though and by the time maybe you will all see those stakers are going to unstake to sell for a low price.

[FrozenBit]

The demand for using and interested in AXS is increasing, I see that the epidemic is contributing to promoting the development fields in this direction, which have received a lot of success recently. But honestly, it is helping players generate very good income in difficult times like the present.

[bbc.reporter]

There is also news that a fund owned by famous venture capitalist Andreesen Horowitz will lead the series B funding for Axie Infinity worth $150 million. This recognition from Andreesen Horowitz is valued more than the money invested, I reckon.



Axie Infinity to Raise $150M Series B at $3B Valuation: Report A16z will lead the funding round, according to The Information, which cited two unnamed sources.

Source https://www.coindesk.com/business/2021/10/04/axie-infinity-to-raise-150m-series-b-at-3b-valuation-report/



Also, the demand to play on Axie Infinity continues to increase in Asian countries and across all age demographics. Is the game really very good? Why is everyone addicted?

[Bitstar_coin]

Aside from the fact that axie is a play to earn project which seem to be the raining thing now in the crypto space, I think the hype on this project is genuinely high, because am not sure the demand of users on the platform is enough to pump the price this crazily high, it remained me of sol pump, unfortunately am not always lucky to hold this type of coin that will go parabolic, axie infinity has large community support too.

[leea-1334]

Because a lot of people in Asia are using it and gaming it,,, and bringing even more and more people into it. It is being heavily promoted all over online spaces and Youtube gamer girls are all doing it.

So the growth is creating demand creating price surge. That is how simple it all is.

Until it stops becoming popular

[arwin100]

There is also news that a fund owned by famous venture capitalist Andreesen Horowitz will lead the series B funding for Axie Infinity worth $150 million. This recognition from Andreesen Horowitz is valued more than the money invested, I reckon.



Axie Infinity to Raise $150M Series B at $3B Valuation: Report A16z will lead the funding round, according to The Information, which cited two unnamed sources.

Source https://www.coindesk.com/business/2021/10/04/axie-infinity-to-raise-150m-series-b-at-3b-valuation-report/



Also, the demand to play on Axie Infinity continues to increase in Asian countries and across all age demographics. Is the game really very good? Why is everyone addicted?

The game itself is really good since you need to be strategic to defeat your enemy in PVP an what more exciting about the game is the opportunity to earn that's why its so famous on Asian or other parts of the world right now.

There dev is also transparent that's why they gain more trust to their community so maybe if your interested about this game better search those current interview made by some content creators to the dev of Axie Infinity.

But also what most important thing here is still DYOR since anything bad can still happen since we are in crypto.

[bitkanu]

A lot of things happened with axie infinity started from staking. Strategic funding and card revamp. The price of AXS was also triggering SLP to increase again but this time so many AXS holders are staking their tokens in axie staking dashboard. The APR looks awesome right now but it keeps dropping even more from time to the another time as more and more AXS locked into the staking address to earn passive income. I see that in the various group if people are staking the axie infinity token massively. Some whales were also doing it at the same time. These whales were also pushing the price so hard.

The price of axs is going up drastically but it seems like this won't be so long as the correction may come soon. The whales make axie didn't care about what trend that is still happening in the market. AXS has over performed all of major coins. This is quite good for the metaverse coin.

[WeedGoW]

A lot of things happened with axie infinity started from staking. Strategic funding and card revamp. The price of AXS was also triggering SLP to increase again but this time so many AXS holders are staking their tokens in axie staking dashboard. The APR looks awesome right now but it keeps dropping even more from time to the another time as more and more AXS locked into the staking address to earn passive income. I see that in the various group if people are staking the axie infinity token massively. Some whales were also doing it at the same time. These whales were also pushing the price so hard.

The price of axs is going up drastically but it seems like this won't be so long as the correction may come soon. The whales make axie didn't care about what trend that is still happening in the market. AXS has over performed all of major coins. This is quite good for the metaverse coin.

So from what I'm trying to guess your point, this pump is most likely because average AXE users locked their coins behind staking make AXS easily be manipulated by whales? This is plausible as I also think AXS is quite overhyped as it keeps going up prone to an unhealthy grow and dump in the future. Coin going up and down and this is a fact.

[bitkanu]

A lot of things happened with axie infinity started from staking. Strategic funding and card revamp. The price of AXS was also triggering SLP to increase again but this time so many AXS holders are staking their tokens in axie staking dashboard. The APR looks awesome right now but it keeps dropping even more from time to the another time as more and more AXS locked into the staking address to earn passive income. I see that in the various group if people are staking the axie infinity token massively. Some whales were also doing it at the same time. These whales were also pushing the price so hard.

The price of axs is going up drastically but it seems like this won't be so long as the correction may come soon. The whales make axie didn't care about what trend that is still happening in the market. AXS has over performed all of major coins. This is quite good for the metaverse coin.

So from what I'm trying to guess your point, this pump is most likely because average AXE users locked their coins behind staking make AXS easily be manipulated by whales? This is plausible as I also think AXS is quite overhyped as it keeps going up prone to an unhealthy grow and dump in the future. Coin going up and down and this is a fact.

True, that's why the total value locked in AXS increasing even higher. I will not count the total value locked in USD as the price was volatile but it can be seen through use how much supply that goes to the staking address. The whales were buying the tokens from the market and this will decrease the circulating supply. It goes to the staking address and that means less circulating supply as this goes to the staking address to be locked on it. Remember there will be a new feature will come.

[Davian144]

I thought its because the hype of its game platform still high since many player keeps influence another on Youtube or Tiktok about the ability of AXS to earn money by playing its game.
If the hype continue, the price would keep rise until reach the point which the demand match the supply on that time.

It could be because of that as well because I also saw this two days ago, but for now I see that AXS has decreased by more than 15% so that the price is no longer at $150+ and I'm also sure that one day the price AXS will increase again once the market conditions have completely recovered from the correction, although Bitcoin is currently increasing for a few percent.