Axie Infinity price exploded with revamped reward structure, eyes 18% rally


  • Axie Infinity team revamped rewards for the player to player competition, fueling a bullish outlook among investors. 
  • The play-to-earn gaming token posted double-digit gains in response to updated rules and a rise in transaction volume. 
  • Analysts have set a target of $90 for the Axie Infinity rally, predicting 18% spike in the ongoing squeeze. 

Axie Infinity team revamped the reward structure, expanding the number of slots on the leaderboard and opening up the opportunity to more players. The play-to-earn gaming token's transaction volume exploded and fueled a bullish outlook among holders. 

Axie Infinity targets $90 with revamped P2P rewards

The Axie Infinity team cut the supply of its Smooth Love Potion and introduced a new reward structure for its player-to-player game. The changes in Smooth Love Potion's supply have made it challenging for players to earn the token. 

Game developers protected Axie Infinity from economic collapse, boosting rewards and increasing opportunities for players to feature on the leaderboard. 

The rewards pool is expanded to a $6 million prize fund, increasing demand for player-to-player competitions in the play-to-earn game. 

Axie Infinity expanded its leaderboard slots to 300,000 and boosted rewards to 117,676. Earlier, the rewards for slots were 3,000. 

Axie Infinity ranked among the top-performing altcoins that recovered from the crypto market drop on February 7, 2022. The play-to-earn token has posted 28.5% gains over the past week in response to a spike in demand and on-chain activity. 

Analysts have evaluated the Axie Infinity price trend and predicted a rally in the token. @AltcoinSherpa, a pseudonymous cryptocurrency analyst, believes that Axie Infinity is in a high-volume node area. The analyst believes that the current squeeze could push Axie Infinity price to $80. 

@AltcoinSherpa has set $90 as a target for the gaming token's price, an 18% rally from the current level. 

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP