IS AXIE INFINITY PROJECT DEAD?
I got this question from one of my followers in my last post and I thought I should drop my analysis here for everyone to benefit from it.
AXIE INFINITY PROJECT has a total supply of 270million coin with with circulating supply of 141.3 million coin which makes around 52% of the total supply.
with the current market capitalization of $580 million
Axs token has a vesting period for private sales that holds before the lunch in 2021 which has make more token to be released periodically in specified interval into the circulating supply .
when this happened , what did you expect to happen in the price per coin?
definitely a devaluation of price per piece because of large supply flowing into market and massive selling , so the dropping price for AXIE is still Normal fundamentally unless if there's a large investors to absorb the coin coming into circulation .
Around 15.3million AXIE coin will be released into circulation in few days which will makes the price to drop further because there's high probability that those long term investors will dump it in circulation.
Note, axie infinity can never gets to the ATH ($165) again in the next 10 years, so it will be delusional for you now to be thinking of that price now and the price is likely to drop further to $2 zone.
lastly the project is not yet dead, but this is one of the main problem faced by Tokens that undergo private sales to raise fund from large investors .
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