AXS Token Slides 30% This Week As Gamers Abandon Play-to-Earn Title

The AXS token slides 30% this week as the gamers abandoned the play to earn the title and fled the platform en masse so let's have a closer look today in our altcoin news. The AXS token that powers the Axie Infinity game dropped by 30% over the past week and on the day, it

Timeline of Axie-infinity

The Axie Infinity (AXS) Ronin Network is launching a “bug bounty” program that will offer up to one million to hackers for finding weaknesses in the project's blockchain. In late March, the Ronin bridge was hacked for 173,600 ETH and 25.5 million stablecoin USD Coin (USDC), worth about a combined $600 million. The Ronin Network The post Axie Infinity (AXS) Ronin Network Launches Bug Bounty Program in Response to $600,000,000 Hack appeared first on The Daily Hodl.

April has so far been a rough month for Axie Infinity following a major exploit through which digital assets worth $600 million were stolen. The malicious hack has undoubtedly had a negative impact on AXS' bearish price action.

The Ronin bridge is being redesigned after a major hack last month, with the opening of the new bridge delayed till late May. The delay is necessary since the bridge will be built to secure “billions of dollars in assets,” a new update from the team behind the bridge has said.

Whether we like it or not, the crypto world has changed significantly. It's not just about market caps and price changes anymore. Unfortunately, due to many scams and rug pulls, investors are hesitant about dropping money on just about any new cryptocurrencies. Instead, they want a project with a purpose, a long-term investment that'll enrich …

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice In March, Axie Infinity tokens were trading at $45, which was also a long-term support level for the price on the charts. As the month of March progressed, the bulls were able to initiate a

Axie Infinity price approaches an oversold condition that hints at a reversal in trend favoring the bulls. This price action for AXS has also produced a bullish technical formation that adds further credence to the optimistic outlook.

Earlier this month, Ronin, the Ethereum Sidechain that hosts the popular play-to-earn blockchain game Axie Infinity was hit by hackers. The hack was deemed to be one of the biggest hacks in crypto history totaling $622 million in crypto.