I remember the first time I heard about this video game and its very high barrier to entry. Today I bring you this very interesting news in relation to this project and its expectations for the future.π
[Source](https://i.blogs.es/067b7e/axie-infinity-portada/1366_2000.jpg)
In mid-2021, when the price of an NFT on Axie Infinity was at a minimum of $200, the volume of money moving within this metaverse was enormous, creating a seemingly endless upward parabolic slope.
However, are those good times for the NFT #1 game over, or are we looking at a healthy corrective process before starting a new rally?
What is the current situation of Axie Infinity?
Today the cheapest Axie is as low as $7. It takes a minimum of three of these to have a team and start earning SLP (the game's reward token).
However, the low price of SLP, due to oversupply, has led to an exodus of players, creating a downward price spiral within the Axie Infinity Metaverse.
If we add to this the bear market that the entire crypto market has been experiencing, it seems that there is no reason to expect a significant recovery in the short term.
Still, if you thought of investing when prices were hovering around all-time highs, then the current time could be an excellent opportunity. The fundamentals have even improved for this game.
> This is how the prices are today in the Axie Infinity market. Source: Marketplace Axie Infinity.
The team advances despite setbacks
Despite the fact that the development team postponed the release of a game update several times, this new version is already online, in its testing phase.
However, players are still waiting for the full release of the Metaverse, with a virtual world made up of plots where users can interact.
One of the biggest setbacks that Axie Infinity had to face was the hacking of its Ronin network, during which more than $600 million was stolen. It was a huge blow to confidence, but they managed to replenish almost all the money with funding from outside agents like Binance.
The speed of issuance of SLP has also been a big problem for the team, since there is so much supply, the price tends to go down. Being the means by which players are rewarded, the price of this token is undoubtedly what is seen by users who enter the game for profit.
**The development team has repeatedly taken steps to reduce supply, however some have come late.**
Meanwhile, the general opinion of users is that more systems are needed to burn SLP, such as ax customization, lotteries, internal tournaments, etc.
According to data from Axie Worlds, almost 15 times less is burned today than is emitted. A few weeks ago, when there were more active players, on average 60 times less was burned than mined. The ideal with a token as inflationary as the SLP would be to burn 1 slp for every 2 issued.
**An Analysis of Axie Infinity Metaverse Token Prices**
We start with RON, native to the Ronin network, and where all the operations of the Axie Infinity Metaverse are currently running.
Today we see from the daily chart RON vs USDT a big bearish trend, following the general sentiment of the crypto market, and supported by the recent hack of the Ronin network.
This token was launched just three months ago, while it was a strong performer during its early days of birth, now priced at $0.45 it has lost almost 90% from the all-time high of $4.32.
Being a currency that is used only to pay network fees, and serve as a governance token, its price goes hand in hand with the adoption of the game as such. Since we are in a time of user migration, the only thing that could happen was a drop in price.
However, it is a token with a fairly controlled supply. Its small market capitalization of $78 million tells us that the potential profit could be quite large.
Bear markets in the crypto market have always bottomed out, and we may already be close to it this time. On the RON chart, we already see the price submerged in an area of ββextreme overselling.
**AXS**
While RON functions as the governance of the Ronin network, AXS fulfills the same role but within the game.
Let's remember that Ronin plans to be more than just Axie Infinity, so it's pertinent to treat them separately, even though they're so intertwined.
After a mega bull rally that took the AXS token to an all-time high of $165.37, today the price is $21.74. Again, discounts of almost 90% for those who trust in the project.
The short/medium term trend is strongly bearish, and there are no signs of a reversal yet. The least negative that we can see in the near future is a lateral behavior. The demand zone that the price is in could be a good starting point; if lost, the land would be cleared for sales up to $9.33.
Despite what has been said, the fall is already widespread; sales space is running out.π
**SLP**
Unlike the previous two tokens, the SLP case is a bit more difficult, and this is demonstrated by the price chart.
The Smooth Love Potions token is generated with each game played within Axie Infinity, so the supply is highly inflationary. Thanks to this, the price of it has been involved in a strong downward spiral, even though the market capitalization has been increasing.
Only with drastic measures to reduce supply and issuance could the SLP token create a healthy uptrend.
Currently, on the weekly SLP vs USDT chart we can see a significant bearish divergence as the price hits all-time lows. At least one major rally is likely to happen soon; but I repeat, drastic measures are still needed to think of a sustainable uptrend.
[Source INFO](https://criptotendencia.com/2022/05/19/los-precios-en-el-ecosistema-axie-infinity-estan-a-casi-un-90-de-descuento-oportunidad-de-compra/)
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