coinedition.com
One of the many cryptos in the red for today is Axie Infinity (AXS). According to the crypto market tracking website CoinMarketCap, AXS is currently worth about $10.37 after a 5.27% drop in price over the last 24 hours. The crypto also reached a high of $10.96 and a low of $10.23 over the same time period.
AXS is, however, still up by more than 4% over the last seven days. The crypto did, unfortunately, weaken against Bitcoin (BTC) and Ethereum (ETH), by about 2.70% and 2.78% respectively throughout the last day.
AXS’s 24 hour trading volume is also in the red zone, and currently stands at $108,876,998 after a more than 26% decline since yesterday. With its market cap of $1,160,966,997, AXS is currently ranked as the 50th biggest crypto in terms of market capitalization. This places the altcoin right behind Theta Network (THETA) in the 49th position and in front of The Sandbox (SAND), ranked 51st on the list of the biggest cryptos.
A crypto analyst and enthusiast took to Twitter on February 21 to share some of his own views and insights about the price of AXS, and what the price of the crypto could do in the coming days. According to the post, on-chain data indicated that Axie Infinity is sitting rather stable as 331 addresses bought about 12.8 million AXS at between $10.7 and $10.9.
The post also suggested that if the AXS price is unable to stay above this level, it could trigger a correction. The price of AXS could then fall as low as $10.2 On the other hand, for a bullish breakthrough to happen, the AXS price will have to break above $11.5.