The Metaverse Tokens AnimalCoin and Axie Infinity Visit 6% Surge
A few particular tokens saw a rise in value in the weeks before the new year as investors anticipated what the year would bring. The top gainers included MetaverseTokens (ERT), ApeCoin (APE), and Axie Infinity (AX), each of which had a 6% increase in value.
Two distinct token forms have increased in popularity in light of the New Year. Axie Infinity (AXS) and Metaverse Tokens (APE) have both experienced a 6% price increase. Why is this happening, exactly?
Digital assets used on the Metaverse blockchain are called Metaverse Tokens. They function in a number of ways on the blockchain and are comparable to Ethereum tokens. These goals range from asset exchange to identification confirmation, among others.
The Ethereum blockchain provides the foundation for the game Axie Infinity. Axies are virtual monsters that players can collect, train, and fight in the game. It is likely that the recent spike in popularity of the game is what is triggering the rise in AXS tokens.
Since the beginning of 2019, the prices of both Axie Infinity and ApeCoin have increased by 6%.
This is mostly due to the general direction of the cryptocurrency market. These tokens are viewed as strong contenders in the category of high-return investments as investors become increasingly bullish on the market as a whole.
What Causes ApeCoin and Axie Infinity’s High Value?
ApeCoin and Axie Infinity are two of the Metaverse Tokens that are fueling the upsurge. Why are these two coins so well-liked, then?
To begin with, both ApeCoin and Axie Infinity give consumers the opportunity to fund cutting-edge blockchain initiatives. With ApeCoin, investors may bet their tokens on projects that could develop into the following “unicorn” startups—those with a valuation of over $1 billion. Investors can purchase, sell, and breed digital “pet-like” creatures called Axies through Axie Infinity. Investors are very interested in these Axies because of their practical applications and usefulness across different blockchain platforms.
Axie Infinity and ApeCoin both have a limited supply of coins, which contributes to their perceived worth in addition to their use cases. As a result, both coins have artificially high demand, which drives up their exchange rates. Because of this, they are desirable investments for investors seeking quick profits in volatile markets.
What Is the Long-Term Prospect for Axie Infinity and ApeCoin?
What does the future hold for Axie Infinity and ApeCoin? Well, nobody can foresee the future with confidence, just like with any investment. Having said that, it appears that both ApeCoin and Axie Infinity are in a strong position to benefit from the expanding trends in automation, blockchain usage, and digital entertainment.
ApeCoin has made waves in the automated trading industry and has already established itself as a leader in the cryptocurrency industry. Axie Infinity is also quickly diversifying into games and digital art. Gamers can design their own unique avatars and compete against one another in a virtual arena thanks to its ground-breaking “battles” mechanism.
It’s not surprising that ApeCoin and Axie Infinity have already experienced such a jump in popularity this year given the bright futures they have ahead of them. It will be interesting to see if they can keep up their momentum in 2023!
Leave a Comment