Axie Infinity (AXS), one of the most popular Web3 projects of the Play to earn ecosystem, has increased by more than 30% in the last 30 days. According to the data, 3.63 million tokens will be unlocked as of July 22, 2023. Valued at over $20 million, this pre-opening selling pressure is likely.
According to the analysis published in BeInCrypto, AXS, which fell before the unlock event in April 2023, indicates a new upward trend. However, this may change if the token locks are opened. According to the analysis, on-chain data shows that some AXS owners are starting to build selling pressure.
altcoin market Although it showed an increase as of July 20, 2023, it can be observed that some tokens experienced negative divergence after the key openings. However, it is stated that the rally could continue if the price holds above $6 and breaks the $8 levels. Axie Infinity (AXS) priceAs of the writing of the article, it is trading at $ 6.52.
Disclaimer: In accordance with the Trust Project guidelines, this analysis paper is for informational purposes only. It should not be considered as investment advice. BeInCrypto is committed to providing accurate and unbiased reports, but market conditions can change quickly. It is always recommended that you do your own research and consult a professional before making any financial decisions.