The pseudonymous host of the crypto outlet Coin Bureau is taking a close look at the blockchain-based game and token Axie Infinity (AXS).
The popular researcher, who goes by the simple name Guy, tell his 1.1 million YouTube subscribers the price of AXS will likely move significantly higher before the end of the year, as long as the blockchain-based game sustains its rising rate of adoption.
“In terms of how high AXS could go by the end of the year, I reckon $100 is a more and reasonable expectation, especially if Axie Infinity continues to see user adoption.”
At time of writing, AXS is trading at $40, according to CoinGecko.
The crypto influencer highlights two fundamental factors that he says could support Axie Infinity’s uptrend until the end of the year.
“It certainly helps that AXS has a medium-size market cap, meaning it has a lot of room to grow compared to other cryptos. Not only that, but AXS’ lengthy vesting schedule means it’s unlikely to see any serious price suppression from selling by the team, advisors and private investors.”
According to Guy, another key factor could contribute to the long-term success of the blockchain-based game.
“When something they built was anything less than perfect for their users, they scrapped it without hesitation and tried something else. This level of commitment to consistency, quality and community is very rare both inside and outside of cryptocurrency, and it’s fundamentally what Axie Infinity owes its success to.”
Guy adds that Axie Infinity has the potential to take cryptocurrency to the masses.
“There’s still so much room for Axie Infinity to grow, too, and it might just be the killer [decentralized application] that will take cryptocurrency mainstream.”
I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/agsandrew
