- The AXS crypto price is trading with no significant activity in its trading volume.
- Axie Infinity crypto has less than 31% of its maximum supply in circulation.
Axie Infinity Shards is the governance token of the Axie Infinity game ecosystem, enabling voting on governance decisions, staking for rewards, and participation in the in-game economy. Created by Sky Mavis, AXS embodies the play-to-earn model, empowering users with ownership and influence over the game’s evolution.
The total supply of the Axie Infinity token is 270.0M AXS, similar to its maximum supply. The circulating supply of the crypto further is 143.387N AXS, which is 53.11% of the maximum supply. Also, the fully diluted market cap of the crypto is $1.911B. Also, the circulating supply market cap of the crypto is $1.019B.
The market cap of the Axie Infinity crypto has slightly declined by 0.90% in the last 24 hours, resulting in a market cap value of $1.012B. It also is the 79th largest cryptocurrency in the global cryptocurrency market.
The trading volume of the crypto derivatives has declined by 6.6% in the last 24 hours, resulting in a traded value of $55.541M. The volume/market cap ratio of the crypto is 5.80%.
The crypto volatility is also high, resulting in 15.16%, and the crypto market dominance is 0.03%. Furthermore, the sentiment of the crypto is neutral, and the fear and greed index of the crypto is at 66, indicating greed.
Axie Infinity Crypto Derivatives Analysis
Higher long liquidations in the Axie Infinity crypto have been seen over the last few weeks, indicating the dominance of sellers in the crypto. The trading volume of derivatives for crypto has further witnessed a decline of 24.4%. The value of the traded volume for the crypto is $88.38M.
The open interest in crypto further declined by 1.38% in the last 24 hours, and the long liquidation recorded for crypto was $25.22K. Also, the short liquidation for the crypto is worth $4.31K.
Total Number of Holders Vs Active Addresses Of Axie Infinity
Axie Infinity crypto has consistently advanced its total number of holders over time. Despite this, the number of active crypto addresses could be better than its average.
AXS Crypto Technical Analysis
The AXS crypto price has formed a lower low swing pattern on the chart, followed by the double top formation. The price of the crypto forms a bearish candlestick pattern on the chart, and it continues to decline to lower levels.
AXS/USD Chart by TradingView
The AXS crypto price has declined below the 200-day EMA, and the 50-day EMA is also further declining towards the 200-day EMA. That might lead to a bearish crossover in the crypto price.
The MACD and the signal line are trading below the zero level following a bearish crossover on the daily chart. The histograms on the chart further indicate bearishness in the crypto price.
The RSI has declined to the oversold zones, indicating intense weakness in the crypto trend.
Summary
The AXS crypto price shows consistent lower lows, forming a bearish pattern. With high volatility and seller dominance, it faces challenges. Despite declining derivatives trading volume, AXS witnesses neutral sentiment but greed among investors. Technical analysis suggests further price decline as it breaches EMAs, with MACD and RSI indicating bearish trends.
Technical Levels:
- Support Levels: $4.00 and $6.20
- Resistance Levels: $14.00 and $19.50
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.