Axie Infinity is a Pokemon-inspired blockchain-based game where players can earn tokens through skilled gameplay. Anyone can collect, raise, battle, and trade token-based creatures called Axies, which come in many different types and take the form of non-fungible tokens. These NFTs can also be bred to produce new Axies or sold on the Axie marketplace.

Axie Infinity Shards, or AXS, is an ERC-20 governance token for the Axie Universe and can also be used to claim rewards through staking and earned through gameplay and user-generated content initiatives. Since joining the market, the AXS price has seen significant change, and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of Axie Infinity price – as well as the factors which influence it.

Axie Infinity Price History

[guidelink axs] was launched through the Binance Launchpad in the first week of November 2020 and began trading at $0.18. After immediately dropping to $0.10, prices soon began to climb, and AXS had reached $0.46 by the end of its first month on the market. Further positive momentum carried the token up to a peak of $0.90 in December, after which AXS retraced somewhat to end the year at $0.54. This still represented gains of 200% since launch.

The first half of January 2021 saw prices dip back to $0.41, after which the rally resumed, taking AXS up to $0.81 by the end of the month. February brought further gains, with AXS reaching a peak of $2.38 before falling back to $1.40 at the month’s close. March was likewise bullish as prices reached a high above $8 around the end of the month, despite a pullback of over 50% a few days earlier.

April also proved to be a strong month for Axie Infinity. During the first week, the token surged to more than $11. About a fortnight later, AXS was worth less than half that amount, as it dropped as low as $5.50. A brief burst of buying pressure then saw prices spike to their all-time high of $11.76 on April 20, providing year-to-date gains of almost 2,100%.

This was followed by another retracement to about $6, before a further rally led AXS to finish the month above $10. Most of May proved to be bearish and AXS touched lows of $2.69 during a crash of nearly 60% within a single day that month. Prices improved slightly after that so that AXS was trading around $5 as June began.

Analyzing Axie Infinity Price History

Axie Infinity price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With AXS, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. The project raised its target of nearly $3 million through its token sale and has formed partnerships with Samsung, Ubisoft, Aave, and Maker, among others. What’s more, the popularity and profitability of this type of battling game is already well established, and the introduction of blockchain-based benefits such as governance rights and monetary rewards could give the project a unique and valuable position in the gaming industry. These could all be good signs for the fundamental Axie Infinity value.

Broader market trends have also played a role in the price history of AXS. Its surge in early 2021 wasn’t unique – the entire cryptocurrency market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptos.

The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

The overall price trend of AXS tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Axie Infinity (AXS)

A variety of different things can affect the market price of AXS, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.

AXS has a capped max supply of 270 million tokens, making it a scarce asset, like Bitcoin, and so potentially a good store of value in the long term. According to the release schedule, all tokens should be in the circulating supply by early 2026. Any increase in demand after this point would therefore raise AXS price.

Demand for AXS is driven by its utility within the Axie Infinity ecosystem. The token can be earned by playing various games and through user-generated content initiatives. It is also accepted as currency within the Axie NFT marketplace and may be considered by the Axie team when determining eligibility for participating in certain sales or auctions.

AXS is being used to decentralize ownership and governance of the project with the introduction of a community treasury which will be governed by AXS token holders. AXS can be staked to earn more tokens and AXS holders could earn even greater rewards by participating in governance and gameplay while staking. These rewards could incentivize more people to buy AXS for staking.

It is likely that demand for AXS will increase with the number of Axie Infinity players. According to the project’s whitepaper, Axie is already the most popular Ethereum game in terms of daily, weekly, and monthly active users, and has generated more than $2 million in revenue. The Axie team has strategies for future community growth, such as introducing referral programs, collaborating with famous artists, partnering with mainstream streamers, and working with well-known brands. If successful, these initiatives could drive adoption of the game and simultaneously boost the AXS price.

Live Axie Infinity Value and Market Cap

The market price of AXS varies from moment to moment as it’s dictated by the balance of buy and sell activity on exchanges, which is in constant flux. 

Given AXS’ volatility, its current price can change by a large amount in a very short space of time. The market cap of Axie Infinity is equal to the price of AXS multiplied by the number of AXS in the circulating supply.

Axie Infinity Price FAQ

How is the price of AXS calculated?

AXS’ price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying AXS than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the AXS price different on each cryptocurrency exchange?

The price of AXS is based purely on trading as there is no standard global Axie Infinity price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.

What will AXS be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future AXS value. However, demand for AXS will probably correlate with the number of Axie Infinity game players, and so the roll-out of community growth strategies could boost the price of AXS.

Conclusion

Since joining the crypto market, the price of AXS has been on quite a journey, going from lows of $0.10 to highs of almost $12. Its price movements often haven’t been smooth, however, as the volatility of AXS has led to surges and crashes along the way.

Many different factors have played a role in determining the price of AXS, including demand for staking and buying Axies, the number of people playing the Axie Infinity game, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Axie Infinity and cryptocurrencies!