The AXS cryptocurrency from Axie Infinity is rising even though tokens with a value of millions of dollars are about to be released.
According to Coinalyze, the dollar value locked in the number of open contracts for AXS-related perpetual futures has increased by 156% to $104 million during the past day.
What do you think? In my opinion, a price recovery and a rise in open interest suggest favorable new investments.
Even though it will take some time before these games experience widespread player adoption, I am always excited about them because I think that when it does, the value of the gaming tokens will soar.
My introduction to blockchain gaming was through the game Axie, but as I enjoy fantasy games more, I eventually switched to CoinFantasy.
The problem with AXS is that the recent positive market movement looks odd in comparison to this perplexing spike.
Locks are viewed as unfavorable triggers that offer liquidity and enable investors to realize profits. To prevent significant bag holders from selling their coins all at once and causing price decreases, tokens are locked up. These huge spenders are frequently project team members or early investors.
Would you still invest?
Source: https://www.reddit.com/r/NFTGames/comments/10lootg/the_problem_with_axs_is_that_the_recent_positive/
