There are few things that i have been watching it since last year regarding axie
1. NFT price floor
2. Unique users
3. Land
4. Revenue
5. Debt (relate with axie hacked case)
6. Development progress.
My conclusion is development progress from axie that is still going pretty well right now while another things are facing disaster just like all of price axie NFTs have been going down so hard. I remember the day when my friend bought three axies for 3k USD and this time it's only worth $6 for all three axies which is proving if axie infinity didn't have good future.
Axie monthly active players are also going down so hard
https://activeplayer.io/axie-infinity/ I guess this caused by ROI become a very long for the new players and they are not interested anymore to own axies and then play the game. I guess if majority of active players are also bots that used to grinding owned by a few people.
The price of land is also going down like a rock goes to the ground.
It all lies down to the value of Axies went down to the bottom and as well as the price of SLP went too very low.
If it's not for those matters, there will still be a lot of active players and there will still be a massive demand for SLP. But, what happened is the opposite, due to the minting of unlimited supply of SLP, that has made the inflation too high and caused the price to go down.
I have seen an individual that posted his worth of $3M worth of SLP and it's down to a few right now. He didn't sell during the top and he's firm on it, what a gamble and loss of money.
