AXS has fallen to -98.6% from its 2021 ATH, falling even further --- while you shouldn't expect this rise to happen because it's impossible for me to believe in this token.
Besides, the Axie Infinity game is now outdated and no longer hyped, so it's likely that many communities have left this project, including the game itself. Therefore, look for other altcoins that have more potential rather than expecting this one to rise.
Right, we are no longer in the 2020-2021 era wherein Axie was one of the biggest hit in that bull run. Many people even those who don't deal with crypto but just wanted to make money, even old generation in our province used to play and make profits during the pandemic.
But that's it, another vicious cycle in crypto. If you are no longer the hype then your project is going to be dead. And as I have said, this is a cycle, and we have seen this in the past. So sorry for those who think that they can still revived Axie.
Let it rest and then invest on the next hype, simply as that.
And also their bounty rewards given to their players decrease more. Also the value of their coins and tokens decrease to so if that situation continue to happen there's no people would play then also invest on their games again.
Axie hype is done and I think its so hard for them to recover. If they have plan to invest they better think again since its risky to do that and maybe they are just wasting their time also money because they won't get anything from them especially if they expect huge or decent earnings.
But if they have old axies they better let it rest as you said and don't sell it at loss because somehow they cannot still get some of it since the value of their NFT drops so bad.