Axie Infinity’s August NFT Performance Caused This Fatal Accident

before it gets so hot NFTs, Axie Infinity [AXS] was the market king. As a result, AXS has generated billions of dollars in sales.

However, the decline of the AXS digital collection is disappointing. His AXS NFT volume in August was just over his $5 million.according to crypto slamwhich was a better performance than the previous month’s July record.

all the facts

This is the fourth time sales have fallen below double digits. The last time he had an eight-figure number was in April, where he hit $19 million in sales. In May he made $7 million, and in June sales were about $3.2 million.

Source: Cryptoslam

Based on data available at press time, there were only 339,921 deals at an average price of $13.41. Buyers who participated in these deals also reached 44,558. Unfortunately, it’s the first time in over 15 months that AXS has recorded such low engagement.

The losses didn’t stop there. Overview of the August 2021 volume Indicated AXS sales reached $848.13 million with 1.85 million transactions at an average price of 0.0078 ETH ($457.42).

As such, AXS lost more than $800 million in revenue year-over-year (YoY). The bearish state of the cryptocurrency and NFT markets may have played a role, but compared to other major NFT protocols, the decline has proven to be significant.

Source: Cryptoslam

Where did this leave AXS?

Like the digital collection, AXS cryptocurrency also failed to excite investors and the crypto community. His AXS in August failed to win up to $20 per token.

according to coin market capitalization, AXS was trading at $13.86. In addition, his 24-hour trading volume fell by 21.61%, down $104.06 million.

For AXS HODLers, the road to recovery can be longer than expected. This is because indications from the Exponential Moving Average (EMA) indicated that there is very high selling pressure.

According to the chart, the 20 EMA (blue) is well below the 50 EMA (blue). This could spell the end of hopes for a short-term bull move.

The situation is similar in the medium to long term as the 200 EMA (cyan) is also holding positive above the 20 and 50 EMAs.

Source: Trading View Axie Infinity’s August NFT Performance Caused This Fatal Accident

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