{"id":543144,"date":"2023-07-18T23:00:54","date_gmt":"2023-07-18T23:00:54","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=543144"},"modified":"2023-07-18T14:09:21","modified_gmt":"2023-07-18T14:09:21","slug":"upcoming-event-is-bearish-for-axie-infinity","status":"publish","type":"post","link":"https:\/\/www.newsbtc.com\/news\/axie-infinity-axs\/upcoming-event-is-bearish-for-axie-infinity\/","title":{"rendered":"Why This Upcoming Event Is Bearish For Axie Infinity (AXS)"},"content":{"rendered":"

Axie Infinity (AXS) continues to be one of the top performers in the market even though the bear market trend. However, an upcoming token unlock event could put an end to the alt coin\u2019s bullish trend given the amount of tokens involved.<\/p>\n

$21.7 Million In AXS Set To Be Unlock<\/h2>\n

The upcoming Axie Infinity (AXS) token unlock event is the most notable unlock happening this week. Out of the total $27.4 million in tokens set to be unlocked across the space today, AXS unlocks make up the vast majority.<\/p>\n

Related Reading: Bearish Signal: BNB Open Interest Skyrockets To New Highs<\/a><\/div>\n

According to the token tracking website Token Unlocks<\/a>, a total of 3.43 million tokens are set to be unlocked in four days on July 22. Going by the current price of AXS tokens at the time of this writing, this translates to $21.55 million in tokens.<\/p>\n

\"Axie<\/p>\n

$21.55 million in AXS tokens set to be unlocked | Source: Token Unlocks<\/a><\/pre>\n
This next unlock will see another 2.96% of the total 270 million supply being sent back into circulation. However, unlike its last token unlock held on April 23, the entirety of this token unlock is going toward staking rewards for users of the platform.<\/p>\n
Will This Affect The Axie Infinity Token Price?<\/h2>\n
The Axie Infinity (AXS) token unlock will no doubt put bearish pressure on the price of the digital asset. This is because the unlock will increase the circulating supply amid declining demand in the market. As such, AXS’s price could see a decline from July 22.<\/p>\n
However, it is important to note that as these tokens are only going toward staking, they will likely not hit the market at the same time. Such staggered introduction into the market could mitigate selling pressure, giving the buyers time to garner enough demand to offset the new supply.<\/p>\n
\"Axie<\/p>\n
AXS price at $6.24 | Source: AXSUSD on TradingView.com<\/a><\/pre>\n
This is possible though as long as the general crypto market does not succumb to the bear pressure current mounting. If Bitcoin is able to recover above $31,000 once more, then coins like AXS will benefit as market sentiment recovers.<\/p>\n
Related Reading: Crypto Liquidations Cross $300 Million Amid Massive Market Recovery<\/a><\/p>\n
For now, AXS is still holding steady compared to others in the space. The altcoin is currently changing hands at a price of $6.24, recording a 0.32% decline in the last 24 hours, but seeing 6.86% gains on the 7-day chart.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Crypto Ticker, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Axie Infinity (AXS) continues to be one of the top performers in the market even though the bear market trend. However, an upcoming token unlock event could put an end to the alt coin\u2019s bullish trend given the amount of tokens involved. $21.7 Million In AXS Set To Be Unlock The upcoming Axie Infinity (AXS) token unlock event is the most notable unlock happening this week. Out of the total $27.4 million in tokens set to be unlocked across the space today, AXS unlocks make up the vast majority. Related Reading: Bearish Signal: BNB Open Interest Skyrockets To New Highs According to the token tracking website Token Unlocks, a total of 3.43 million tokens are set to be unlocked in four days on July 22. Going by the current price of AXS tokens at the time of this writing, this translates to $21.55 million in tokens. $21.55 million in AXS tokens set to be unlocked | Source: Token Unlocks This next unlock will see another 2.96% of the total 270 million supply being sent back into circulation. However, unlike its last token unlock held on April 23, the entirety of this token unlock is going toward staking rewards for users of the platform. Will This Affect The Axie Infinity Token Price? The Axie Infinity (AXS) token unlock will no doubt put bearish pressure on the price of the digital asset. This is because the unlock will increase the circulating supply amid declining demand in the market. As such, AXS’s price could see a decline from July 22. However, it is important to note that as these tokens are only going toward staking, they will likely not hit the market at the same time. Such staggered introduction into the market could mitigate selling pressure, giving the buyers time to garner enough demand to offset the new supply. AXS price at $6.24 | Source: AXSUSD on TradingView.com This is possible though as long as the general crypto market does not succumb to the bear pressure current mounting. If Bitcoin is able to recover above $31,000 once more, then coins like AXS will benefit as market sentiment recovers. Related Reading: Crypto Liquidations Cross $300 Million Amid Massive Market Recovery For now, AXS is still holding steady compared to others in the space. The altcoin is currently changing hands at a price of $6.24, recording a 0.32% decline in the last 24 hours, but seeing 6.86% gains on the 7-day chart. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from Crypto Ticker, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":543211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86128],"tags":[83848,83875,88650,86624,88649,88651],"class_list":["post-543144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-axie-infinity-axs","tag-axie-infinity","tag-axs","tag-axs-unlock","tag-axsusd","tag-axusdt","tag-token-unlcok"],"acf":[],"yoast_head":"\nWhy This Upcoming Event Is Bearish For Axie Infinity (AXS)<\/title>\n<meta name=\"description\" content=\"Axie Infinity (AXS) continues to be one of the top performers in the market even though the bear market trend. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/www.newsbtc.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why This Upcoming Event Is Bearish For Axie Infinity (AXS)","url":"http:\/\/www.newsbtc.com\/news\/axie-infinity-axs\/upcoming-event-is-bearish-for-axie-infinity\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.newsbtc.com\/news\/axie-infinity-axs\/upcoming-event-is-bearish-for-axie-infinity\/"},"thumbnailUrl":"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/07\/Axie-Infinity-AXS.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/07\/Axie-Infinity-AXS.jpeg?fit=600%2C454"},"articleSection":"AXS","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["axie infinity","axs","axs unlock","axsusd","axusdt","token unlcok"],"dateCreated":"2023-07-18T23:00:54Z","datePublished":"2023-07-18T23:00:54Z","dateModified":"2023-07-18T23:00:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why This Upcoming Event Is Bearish For Axie Infinity (AXS)\",\"url\":\"http:\\\/\\\/www.newsbtc.com\\\/news\\\/axie-infinity-axs\\\/upcoming-event-is-bearish-for-axie-infinity\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.newsbtc.com\\\/news\\\/axie-infinity-axs\\\/upcoming-event-is-bearish-for-axie-infinity\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.newsbtc.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Axie-Infinity-AXS.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.newsbtc.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Axie-Infinity-AXS.jpeg?fit=600%2C454\"},\"articleSection\":\"AXS\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.newsbtc.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"axie infinity\",\"axs\",\"axs unlock\",\"axsusd\",\"axusdt\",\"token unlcok\"],\"dateCreated\":\"2023-07-18T23:00:54Z\",\"datePublished\":\"2023-07-18T23:00:54Z\",\"dateModified\":\"2023-07-18T23:00:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/newsbtc.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/07\/Axie-Infinity-AXS.jpeg?fit=600%2C454","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/posts\/543144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/comments?post=543144"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/posts\/543144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/media\/543211"}],"wp:attachment":[{"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/media?parent=543144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/categories?post=543144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbtc.com\/wp-json\/wp\/v2\/tags?post=543144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}