Axie Infinity Up By 0.60% – Time To Buy AXS?

• Axie ‘Origin Education Challenge’ To Reward Outstanding Content Developers with $AXS Prizes, spurring investors to buy AXS.
• Artic Origin Art Announces Contest To Incentivize High-Quality Artwork
• AXS Developer Launches $1M Bug Bounty To Identify ‘Extraordinarily Severe’ Vulnerabilities

Axie Infinity is the leading blockchain-based gaming protocol. Resident on the Ethereum network, Axie Infinity allows players to battle and trade in-game assets represented by Axies. Each Axie is an NFT and players get to breed, battle, raise, and trade them. Axie Infinity’s utility token has remained a strong performer in the crypto market and today’s rally has seen investors buy AXS.

However, before making a buying decision it is recommended to consider its fundamental and technical performances so far.

Artic Origin Art Announces Contest To Incentivize High-Quality Artwork

Axie Infinity has kicked off its Artic Origin Art Contest. The contest aims to incentivise high quality, eye-catching artwork that attracts people to the Axie Infinity: Origin. This may prompt more investors to buy AXS as the network seeks to develop more opportunities for its users.

The contest welcomes all artistic mediums, but would give more credence to eye-catching, dynamic entries. The winners will be awarded a total of 1000 AXS, valued at $51,000. The first-place winner will also receive an Origin Axie.

Axie ‘Origin Education Challenge’ To Reward Outstanding Content Developers with $AXS Prizes

Axie Infinity has announced that a sum of 1000 $AXS in prizes will be given to content creators who will assist in preparing its educational materials. This is coming after the successful launch of its Origin release. The challenge may spur both developers and investors to buy AXS and participate in the development.

The ‘Origin Education Challenge’ seeks to encourage talents of its user base to support its new endeavour. All creators, in any language, are allowed to provide high-quality content that can help new members become familiar with the Origin system. This includes video tutorials, live streams, infographics, how-to demonstrations, and explanations.

AXS Developer Launches $1M Bug Bounty To Identify ‘Extraordinarily Severe’ Vulnerabilities

Axie Infinity developer has offered $1,000,000 for hackers who can identify “extraordinarily severe” vulnerabilities. The bug bounty program was launched after hackers drained $622 million in crypto from Ronin, the company’s Ethereum sidechain, last month. The $1 million bounty is to spur responses on the security vulnerabilities of the network.

The $1million top bounty will be given to those who can identify “extraordinarily severe issues or those with extreme impact.” A bounty offer of $100,000 will also be offered to those who identify “critical” smart contract and blockchain vulnerabilities. In addition, those who identify high medium and low risks will be given a $50,000, $5000, and $1000 bounty sum.

Last month, an estimated $622 million in Ethereum and the USDC stable coin was drained from the Ronin bridge. The attacker was reported to have used “hacked private keys” to sign transactions from five of the nine validator nodes on the Ronin network. This included four of Sky Mavis’ own validators. Nearly $7 million of the hacked funds was later sent to the cryptocurrency mixing service Tornado Cash.

Axie Infinity Technical Analysis

Currently, AXIE trades at $48.20. This shows an increase of 0.60% in the last 24 hours. The asset shows a 50-day moving average (MA) of $48.25 and a 50-day exponential moving average (EMA) of $48.23. AXS is presently trading below its indicator price, although within a close range. This reveals a slightly bearish market. However, AXS may gain the bulls in the long run especially with its price increase in the market.

AXS is currently trading above its 61.8% Fibonacci retracement level of $48.05. Investors looking to buy AXS should watch this level as it may serve as the asset’s long term resistance. A break above this may also signal that AXS is prepared for bigger upsides.

AXS however has a slightly negative moving average convergence divergence (MACD). The asset’s relative strength index of 47.23 shows that it isn’t overbought yet. Investors may choose to buy AXS and rise with the market.

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