Why is AXE coin constantly falling (AXS coin has recently risen too much)

Why is AXE coin constantly falling? Why is AXE coin constantly falling? Why is AXE token constantly falling? Why did the market value of AXE rise from $30 billion to over $100 billion in just a few days?

Due to the impact of the price surge, the Axie community was once hit by users selling off AXS, SHIB, and other various Shiba Inu projects. But all of this was because the founder of Axecoin, Andre Cronje (AC), tweeted: “If AXE coin is treated as Bitcoin, this number should soar to around $40 billion!”

In the following two days, AC released news that he bought 10,000 Dogecoin and sold it to the Bitfinex exchange. However, it was later discovered that this news had been officially denied and debunked. In response, he gave his reasons: 1. Dogecoin is a decentralized exchange platform (DEX) that allows anyone to participate; 2. It is a cryptocurrency based on blockchain technology and can be used for any purpose, including powering DeFi and liquidity mining rewards; 3. It is an open-source and open application that aims to make it easy for all developers to build applications; 4. There is no third party that can manage these protocols, tools, or wallets; 5. Its value proposition comes from being one of the most influential things for community members; 6. There is a clear difference between “borderless” and “not free”. (Note: The current total market value of mainstream digital assets is about $3 billion, with a daily turnover rate of 17.5%. (Data source: CoinMarketCap)

However, according to the announcement released by AC, there are many reasons for the continuous decline in the price of AXIE coin due to the market volatility. 1. The supply of AXE tokens is decreasing, and the circulation is decreasing.

2. The price of AXE tokens is rising.

3. “Deflationary model,” that is, the total amount of AXE coin remains constant, and it will gradually increase with price changes.

4. “Inflation model” (that is, increasing income through lock-up to improve returns). 5. “Inflation.” This incentive mechanism mainly distributes to regions with stable economies and lack of reserves. For example, Europe, the United States, Japan, and South Korea have introduced this method to attract more people to invest in cryptocurrencies. 5. “Supply-demand relationship failure” “Supply-demand imbalance.” – CoinGecko

Starting from May 19th, due to the impact of regulatory policies, the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the U.S. Financial Industry Regulatory Authority have reached an agreement on the implementation of regulatory measures for cryptocurrency businesses in their respective countries. For the U.S. government, this is a severe blow. U.S. Treasury Secretary Janet Yellen once said, “We must ban the use of illegal services, otherwise we will lose our competitors.”

AXS coin has recently risen too much

According to reports, there is news that the trading price of AXS coin (AXS) rose from $0.005 to $0.008 in the past 24 hours. According to CoinDesk’s data, the market value of AXS is $200 million, which has dropped by over 50% from the previous week’s all-time high, currently around $300 million.

According to CoinMarketCap data, the number of users of Axie Infinity has more than doubled in the past few months. However, it was only a few weeks later that the project resumed normal operations and announced the listing of its tokens, but the company did not release any official announcement about when it would start. Nevertheless, the company has disclosed some information on how to make AXL more programmable in order to gain adoption in the crypto community.