The cryptocurrency market is still very young and evolving, which is the reason why the media coverage and news background have such a vast effect on crypto prices. The main drivers of this market are supply and demand. Since governments and central banks do not control the market and have nothing to do with crypto supply, it is difficult to regulate it, and so, the volatility is much higher than in other markets.
If an asset is popular and people want to buy and store it, its demand grows while supply decreases, and vice versa – if supply is higher than demand, the price drops.
Highly valuable assets are those having some useful technology or benefits to the market and users. There are many different types of cryptocurrency coins: some are aimed at providing secure and cheap money conversion and transfers, others are used for tokenizing real-life assets, and some are applied in games.
One of the first and most popular blockchain games is Axie Infinity. The peak of its popularity coincided with the COVID pandemic when people massively lost jobs and started to play this game and earn much more money than they coils make when working in regular workplaces.
AXS is the platform’s token. As of mid-January, the AXS token costs $9.15, and its all-time high price was $160 in November 2021. Over time, the game lost its popularity, and the token lost its value. However, the developers aim to add new game scenarios to raise interest and attract new players.
Should You Buy Cryptocurrency AXS?
If you enjoy playing games and want to make money from this process, you definitely should buy AXS. Notice that the tokens are sold on all large crypto platforms, and you can buy them on the Axie platform. There is a threshold of tokens to start the game.
The best way to store crypto depends on what you plan to do with tokens:
- If you want to play Axie games and earn more tokens, you should take them on the platform and use them daily.
- If you want to trade AXS using daily or scalping strategies, pick a reliable crypto exchange for trading and hold tokens on the account.
- If you want to buy and hold tokens long term, you may also use a large and reliable crypto exchange or buy a ledger and move tokens to it to hold them offline.
The safest crypto exchange is WhiteBIT – it holds 96% of clients’ assets offline on cold wallets so that you may buy and hold coins long term and be confident about the safety of your investments.