Metaverse Revival: Axie Infinity (AXS) Price Climbs 18% – Apple's AR Headset Impact?

Axie Infinity (AXS) price scored double-digit gains last week, and so did other prominent metaverse projects like TheSandbox (SAND) and Decentraland (MANA). What is behind the price rally?.

Timeline of Axie-infinity

In an enlightening interview hosted by Justin Roberti and myself, J Rod Safdiye , at the Benzinga Crypto Unlocked virtual event, we dove deep into the future of W eb3 gaming with Jihoz , the co-founder of Axie Infinity (CRYPTO: AXS) and Sky Mavis. The conversation spanned an array of topics, from the merits of gaming as an introduction to Web3, the fluctuations of Web3 gaming economies, to the potential of dynamic NFTs.

Axie Infinity, the popular blockchain-based game, has recently displayed robust short-term bullish momentum. However, there are indications that prices may experience a decline over the upcoming weekend.

As investors weigh in on the latest approval of a leveraged Bitcoin Exchange Traded Fund (ETF) product that was approved by the United States Securities and Exchange Commission (SEC), tokens like Axie Infinity are capitalizing on this broader sentiment and complemented by a rare ecosystem event which went live today.

The virtual event includes leaders in Web3 gaming, including: Axie Infinity, BNB Chain, Splinterlands, Aavegotchi, Alien Worlds, and Upland. DETROIT, June 22, 2023 - Benzinga, a prominent source of investment information in both traditional finance and Web3, has unveiled the next installment of its virtual event series, Crypto Unlocked.

Speculators going short on Bitcoin and crypto are hurting today as markets have surged. As a result, there has been a large number of liquidations on short positions as BTC and its brethren rebound from weeks in the doldrums.

As the crypto market holds its breath, one company is readying to drop a bombshell that could echo through the corridors of digital currency. On July 1, Celsius Network, a now-bankrupt crypto lender, plans to sell off a staggering $215 million in altcoins, marking an unprecedented liquidation.

Axie Infinity's (AXS) price slid to a three-year low amid the ongoing legal battle against US SEC. In addition to the price decline, on-chain data shows players are increasingly abandoning the GameFi protocol.

Amidst legal battles with major crypto exchanges and growing regulatory scrutiny, the AXS token sees a dramatic price drop. Is this a market correction, or does it signal an impending crash for the play-to-earn pioneer, Axie Infinity?

The market is currently experiencing a downturn fueled by an unsettling combination of FUD (fear, uncertainty, and doubt). Adding to this challenging situation is the recent lawsuit filed against Binance by the US Securities and Exchange Commission.

Decoupling from the broader market sentiment, the Metaverse coin has experienced significant growth for nearly two weeks. These meta coins on a recovery streak are gradually reclaiming higher ground, offering traders the opportunity to take long entries.