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There has been a lot of commotion in the market about BTC finding its bottom recently. Surely, there are catalysts and indicators that can provide more evidence to support this speculation. However, it is rare to see altcoins shoot up for longer periods at the moment. This doesn’t seem to bother AXS, which has been enjoying an upward movement for quite a while now. The popular token has already pumped more than 15% this week itself.
Despite being among the top-grossing blockchain gaming tokens, AXS had been looming in the lower price ranges for quite a while. This was expected since most of the major cryptocurrencies had been moving in the same stagnant style since the crash early this year. A huge chunk of the investing citizenry too, had been rather critical of Axie Infinity for staying put and not growing the way people expected it to.
Things seem to have changed now since Axie Infinity has been bringing in updates, major announcements and developments within its product regularly now. Over the last 2 months, one can safely say that it has managed to incite even those outside the Axie Infinity community to become new members.
Why is the AXS token pumping?
As one of the best gaming projects in the space, Axie Infinity was introduced way before the blockchain game category even became popular. It has an extremely successful runup during the 2021 bull run, where the token rose from merely $4 to over $160 within a matter of weeks. So when the bears show weakness, investors stock up on the AXS token, since they speculate it to grow again as the bull run comes back again.
This may or may not happen, but is something that is common across several popular altcoins. Some of the major reasons other than the one already mentioned which have kept Axie Infinity within the headlines are:
Updates within the game
Axie Infinity had been criticized previously for sticking to its original concept and simply making negligible updates to the ecosystem. However, the team has managed to completely overthrow any such comments recently, as they have been constantly putting out newer products and innovative ideas.
The platform recently had an interface revamp, and got its name changed from Axie Infinity – Origin to Axie Infinity- Origins. This change in the word “Origin” was made so as to help the “Origin Axie” character create a brand name for itself. This goes to show how the developers have been looking to achieve long-term success.
Several other items and features were also added regularly in the past couple of weeks, with Axie Infinity fans being updated about all developments through social media platforms.
Competitions and Events
Keeping a project in the limelight can always help it increase in terms of price. Axie Infinity has been seeing a steady uptrend majorly because of the stream of PR events and competitions it lined up for top players. The Axie Infinity World Championship helped the team get the project out in the open to not just crypto enthusiasts, but also to traditional gamers globally.
Matches were streamed with high viewership and endorsements. This helped Axie Infinity in creating a stronghold over the esports industry as well, which could only help it further. With attractive prizes and fame as some of the best players of a globally enjoyed game, players too were enthusiastic and took to major social media platforms to express their interest in being a part of the championship.
All this has historically helped several projects gain a good reputation in front of investors, and that is exactly what happened in this case too.
The Axie Contributor Initiative makes Axie Infinity more decentralized
The idea of any cryptocurrency project is to help the users gain complete control over the assets they own. However, decentralization hasn’t essentially been a trait that several projects including Axie Infinity previously boasted of. However, this changed with the launch of its recent Axie Contributor Initiative.
Due to this initiative, users; especially active members of the Axie infinity ecosystem will be the ones who have control over the developments of the platform. Since this was something that the community has been demanding for quite a while, the launch of such an initiative was received well by players and others who were a part of the Axie Infinity ecosystem.
Naturally, all these factors have been helping Axie Infinity, and AXS gain popularity and investors. However, one needs to note that AXS has often crashed right after it pumps. So if an investor may be looking to park their funds in some excellent options, then it may not be the best fit at the moment.
What are the best projects to buy right now?
In order to enjoy massive returns, it is important that investors search for projects that may be in the early phase, or in a position to grow considerably even during the current market conditions. Listed below are three projects that tick all the boxes, making them excellent investment choices currently.
Dash 2 Trade
As a crypto analytic and social trading platform, Dash 2 Trade may indeed be what a majority of investors may need right now. It helps users gather data on important developments in real-time, helping them strategize for their next trades. Currently in the presale phase, its native token D2T has been highly successful and popular among a huge number of investors.
IMPT.io
IMPT.io is considered to be an exceptional example of green cryptocurrencies. It is created as a carbon offset program that anyone can be a part of. The project features a marketplace, which is already set to host more than 10,000 top companies. IMPT is also in its presale phase and has managed to raise more than $17.3 million within just a couple of weeks.
Calvaria
For anyone looking for an exceptional alternative to the Axie Infinity game, Calvaria can be the top choice. With highly appealing artwork and a massive community, Calvaria is already speculated to be one of the top gainers in the upcoming days. Its native token RIA’s presale so far has been moving with much success and is expected to end soon, making it the right time to buy.
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