Axie Infinity has become one of the most outstanding games of this year 2021, as the NFT game has gained popularity and players have been able to win a significant amount of money. The question is whether the price analysis of $AXS supports a rise or fall in the price of the token.
Bitcoin Market Cycle
Right now, many views on the crypto market indicate that it is about to turn bearish, and that the short price run may actually be a bull trap. Mr. Whale explained in July that despite the bull trap, there are still many investors who believe that Bitcoin is still in a bull market.
Mr. Whale went on to point out that false rallies where everyone has started to lose their minds are very “common” in bear markets. Mr. Whale then pointed out that the same play was present almost every month during the bitcoin bubble of 2018.
Although Axie Infinity or $AXS is an altcoin, the Bitcoin market cycle is known to have an effect on the overall market. When the market was extremely bearish a few months ago, the price of most altcoins took a hit. Although not all altcoins behaved bearishly during the Bitcoin bear cycle, it is important to do your own research or DYOR to really know if Axie Infinity will be affected.
Right now, however, players are celebrating a new update that lowers the cost of breeding. Axie Infinity recently announced the update on their Twitter page, noting that as the AXS cost per hatchling decreases, the SLP cost increases.
The cost to breed with the new breeding system:
1 Breed will need 600 SLP
2 Breed will need 900 SLP
3 Breed need 1500 SLP
4 Breed needs 2400 SLP
5 Breed needs 3900 SLP
6 Breed needs 6300 SLP
7 Breed needs 10200 SLP
The cost above, as it appears on the official Axie website, is the total cost per offspring, as the first offspring requires 300 SLP per parent. In an FAQ section on whether Axie Infinity is sustainable, the page gives a strong answer.
In 24 hours we will update the breeding fee!
• The AXS cost per breed has been reduced from 2 AXS to 1 AXS.
• The SLP costs per breed have been increased (details in article).
— Axie Infinity🦇🔊 (@AxieInfinity) September 23, 2021
Axie Infinity: cost to breed update
According to the page, Axie’s economy has yet to be balanced, truly rewarding players’ immediate efforts and supporting the game’s long-term community growth plan. It was noted that there are still some considerations that can be quite difficult for some members of the community to understand, especially if they are new.
Axie points out that they need tens of millions of Axies for the future rush of releases that are anticipated with the release of their Ronin Dex and Battles V2. The website itself states that A situation will arise where the price of the SLP it will rise initially to meet demand and then fall back to normalize the SLP.
A CoinQuora article provides an overview of the future price forecast for AXS.
2022 – AXS price is expected to reach $200.
2023 – The price of the AXS is expected to reach $350.
2024 – AXS price is expected to reach $500.
2025 – The price of the AXS is expected to reach $720.
Of course, it is always important to DYOR before investing in AXS or Axie Infinity.