• Axie Infinity [AXS], the well-known play-to-earn gaming platform, has seen a drop in crucial growth indicators in the past week.
• The count of unique active wallets on Axie Infinity grew by a mere 0.43% while there was a drop in the number of transactions completed by these addresses.
• Despite significant growth across the broader cryptocurrency market since the start of the year, Axie Infinity has failed to follow suit with a decrease in new players joining its platform.
Decline of Axie Infinity
The well-known play-to-earn gaming platform, Axie Infinity [AXS] has experienced a drop in crucial growth indicators in the past week according to data from DappRadar. The count of unique active wallets on Axie Infinity only grew by 0.43%, and total transactions completed by these addresses fell 8%. During that period, transactions completed on Axie Infinity totaled 299,720. This is due to significant decline in user activity last year resulting in huge blow to its user base this year.
Decrease In New Players Joining
Despite significant growth across the broader cryptocurrency market since the start of the year, Axie Infinity has not followed suit with decreasing new player accounts created each month dropping 49% since December 2022. Daily transaction count has also seen steady fall since high point on 22 January 2021 and fiat value of these transactions plummeted 38%.
Uptick In Revenue
An assessment over 30 day window period revealed jump in revenue on gaming platform with profit recorded totaling $391,900 representing 69% jump compared to Decentral Games who saw 3900% jump during same time frame. However this increase is still notable considering persistent fall in active gamer count within last month.
Token Accumulation Trend Dropping
AXS’s price movements showed a drop token accumulation trend over last week leading to further price decline as liquidity exodus occurred alongside decrease new player accounts and transaction counts falling over time period as well as fiat value plummeting 38%.
Conclusion
Overall it appears that despite uptick revenue for last month being positive sign and better than Decentral Games‘ performance it seems unlikely thatAxie Infinity will be able to recover its large losses from 2022 anytime soon given current trends and metrics available at present time frames.