Axie Infinity: This is how AXS is recovering after $600m exploit

Play-to-earn (P2E) game Axie Infinity is seeing a turnaround in fortunes after its latest performance in the NFT market. The project has been attracting new customers with many developments on the platform.

Timeline of Axie-infinity

Axie Infinity (AXS) has been moving upwards since June 18 but has yet to break out from a descending resistance line. The post Axie Infinity (AXS) Breaks Down From Short-Term Pattern appeared first on BeInCrypto.

The Metaverse tokens crash amid the broader market correction and coins like Sandbox, Enjin Coin, Decentraland, and Axie Infinity all tumbled by about 6% in the past day so let's read more today in our latest altcoin news. The heavyweights in BTC and BTC, the popular metaverse tokens crash amid the broader market correction.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. On a higher timeframe chart, Axie Infinity [AXS] formed a range since mid-June.

Axie Infinity co-founder and CEO Trung Nguyen recently took to Twitter to inform the community that “nature is healing.” The fall of Axie Infinity At its peak, the Pokemon-inspired play-to-earn game was trouncing the competition.

AXS could recapture its former glory if market participants view the launch of land staking, increasing activity on the Ronin bridge and upcoming roadmap targets as bullish catalysts.

The latest report on the Axie Infinity/ Ronin bridge hack is too good to be true. Especially considering the FBI claims a North Korea-sponsored hacking group is responsible for it.

Axie Infinity's AXS token retraced below $15 in the first week of July after a brief rally towards the end of June. Its latest performance has been characterized by ranging price action, indicating a lack of directional price pressure.

Gamers within the Axie Infinity community continue to receive more disappointing news as the leading play-to-earn gaming platform struggles to function optimally. Just a few days after reopening the Ronin bridge, the gaming platform, in a tweet on 2 July, informed its users that it identified an issue with the bridge that made it impossible

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. For Bitcoin [BTC], the entire region from $20.8k to $21.8k presented stiff resistance.

Axie Infinity on Saturday said the Ronin bridge has encountered an unknown problem that caused some funds to stuck during transfers from the Ethereum blockchain. The Axie Infinity team claims the funds are not lost but stuck due to a recurrent issue currently occurring after reopening the bridge.