On-chain review on $AXS in the next few days

REVIEW: $AXS – Axie Infinity – SkyMavisHQ

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$AXS vesting is coming with 21.5M $AXS unlocked in the next few days, on Oct. 25. That is worth $215M, also 20% current circulating supply.

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So where is the price heading to?

Historically, $AXS price plunged when a large number of $AXS were unlocked (~21M $AXS), as seen below:

  • Oct. 30, 2021: fell by 60%.
  • Apr. 29, 2022: fell by 50% before sideway.
  • Early investors' ROI is currently ~10.000% – 12.500% ($AXS private and IEO price were $0.08 and $0.1).

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What did they do in the last vesting on April 29?

  • @DeFianceCapital got 160K $AXS, and later sold all on July 1.
  • @arca got 437K $AXS, and later sold all on May 9.
  • @Delphi_Digital got 750K $AXS, gradually deposited on @coinbase and @binance, and still hold 240K $AXS
  • Same with other unidentified investors.

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Funds and early investors are likely to sell $AXS during this stage.

So, personally, we do not recommend buying $AXS for short-term target (3 – 6 months).

Despite all that, SkyMavisHQ's wallet staked all its $AXS received.

Above are our observation and prediction of $AXS Axie Infinity price in the next few days.

What do you think about the upcoming vesting?

https://coinmarketcap.com/currencies/axie-infinity/

On-chain review on $AXS in the next few days