The continued bearishness within the marketplace has left most alternative tokens struggling to resurrect from the lows. Moreover, this list comprises some of the recognized assets in the financial sector.
Axie Infinity is among the crypto project that endured a massive crash amidst the downside markets. Nevertheless, AXS holders are wealthier than most investors despite the asset exploring yearly lows.
AXS Investors On Roll
Networks with few investors are the most lucrative investment options. Nevertheless, the narrative seems to favor HODLers as far as Axie Infinity is concerned. The 16.79K HODLers on the AXS network allow these individuals to be worth over $272K. Moreover, the average address balance hit nearly $3 million at one moment in November last year.
Generally, the average balance plummets because of one of two elements, a surge in the number of investors on alt’s price. The former contributes to AXS moves, with existing investors surpassing other asset holders.
Moreover, many of these market players have retained their supply for over 12 months. And that explains why 67.96% of the holders remain in profit regardless of AXS’s over 91% slump. Nevertheless, individuals that purchase the tokens beyond the $14.55 price level face losses, though they account for only 30% of AXS’s total investors.
The Crypto Fear
However, these investors aren’t immune to the prevailing fear within the market. The crypto fear & green index shows the marketplace remained in fear regions despite hovering at 2-month peaks, up from ATL (all-time lows). The index reading has impacted existing holders while preventing new investors from joining the space.
That saw Axie Infinity holders resorting to HODLing, though not necessarily by choice. Regardless, this category accounts for about 66.37% of addresses on the AXS ecosystem.
While publishing this news, AXS traded at $14.69, exploring the red region. Moreover, the RSI (Relative Strength Index) maintained sideways as it swayed beneath the 50-neutral.
Though the AO (Awesome Oscillator) stayed beneath the zero mark, its flashed green bars suggest a slow and stable move for the altcoin. Therefore, considering AXS’s price within the past few days brings the dilemma of whether investors will sell or not. What are your thoughts? You can comment below.
Editorial credit: David Esser / shutterstock.com
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