Axie Infinity (AXS) And Maker (MKR) Loses Utility Battle To The Hideaways (HDWY) – CryptoMode

CRYPTO_NEWS AXS

Although Axie Infinity(AXS) and Maker (MKR) were early pioneers in their fields, they now face fierce competition. 

 

In terms of utility, the Hideaways (HDWY) might be a superior option for the upcoming cryptocurrency bull market. Investors are leaning more toward start-up crypto projects since they have the potential to surge in the coming months.

Let’s look at the current state of AXS and MKR to determine whether both coins are still worth investment. And remember, take all of your crypto of exchanges like Kucoin, Crypto.com, and more as they are using your funds and will go insolvent like FTX. 

 

Axie Infinity Struggles To Keep Investors 

 

As the first widely used blockchain play-to-earn game, Axie Infinity (AXS) was another market leader. Players battle their Axie NFTs in the platform’s first game to win rewards. 

AXS coin offered in-game utility for the market but had its sector-led decline when NFTs collapsed along with the crypto market. Due to escalating competition, Axie Infinity is fighting an uphill battle to keep AXS investors interested.

The coin is currently trading at $7.84, suffering a 14.3% decrease from its 24-hour-high price of $9.68. 

If AXS’s prices decline further, investors will likely leave the project to look for more profitable crypto coins. 

 

Maker Isn’t Built For Longevity

Maker (MKR)  set out to become the leading peer-to-peer platform for cryptocurrency borrowing, saving, and lending. It was the first Ethereum-based blockchain to offer loans to consumers. That is, until a significant influx of rivalry into the cryptocurrency market, a slump in the sector, and a general bearish investor mentality. 

Projects like Maker have had a hard time regaining confidence as a result. The project has experienced a decline in trade volume for its native coin, MKR, and investors are wary of Maker as a future potential investment.

As of writing, MKR coins are auctioned at $714.15 with a 24-hour trading volume of $72 million and a market cap of $641 million. Analysts predict MKR could reach a trading price of $5016 in 2023. 

 

Source : cryptomode.com/axie-infinity-axs-and-maker-mkr-loses-utility-battle-to-the-hideaways-hdwy/ by Robbie Kenllis - November 15, 2022

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