Axie Infinity’s AXS Token Sees 43% Growth, Despite Declining Player Base

• Axie Infinity’s native token, AXS, has seen a 43% growth in the past 24 hours with the biggest gains being made in the bi-weekly time frame.
• Despite this, the game has been experiencing a continuous decline in its player base since January 2022.
• The biggest drop in the player base was back in June 2022 when the game lost 1.2 million players in the span of a month.

The crypto market has been a roller coaster ride in the last year, with billions wiped off the market during the winter of 2022. Projects such as Axie Infinity were not spared from the mayhem, with their native token AXS losing up to 91% of its value during the period. However, with a reinvigorated crypto sentiment in the market, AXS has been on the rise since the start of the year. According to CoinGecko, the token has seen a 43% growth in the past 24 hours with the biggest gains being made in the bi-weekly time frame.

This rise in price might be a sign of revival for Axie Infinity, however, the game is still facing a downward spiral in its player base. According to activeplayer.io, the game has been seeing a continuous decline in its fan base since hitting an all-time-high back in January of 2022. The biggest drop in the player base was back in June 2022 when the game lost 1.2 million players in the span of a month. This puts the game near its November 2020 lows, which is a pretty bad look for one of the biggest play-to-earn games in the market.

With the rise in price of AXS, the future of Axie Infinity remains uncertain. Factors such as the game’s ability to attract new players and retain its existing ones, as well as the overall state of the crypto market, will play a major role in determining the game’s fate. Despite the downward trend in player count, the crypto market’s positive sentiment could help the game to recover and attract more players, consequently leading to a rise in the price of AXS. Only time will tell if Axie Infinity can maintain its momentum and revive its player base.