Analyst with the pseudonym Altcoin Sherpa Warn His 184,700 Twitter followers said the gaming platform’s altcoin (NFT) could drop more than 65% in price due to unlocking when investors can sell a digital asset after the maturity period.
according to icons The app, roughly 8% of the total token supply, or 21.5 million AXS, is set to open in three days.
“Axie looks probably worth $3 given all the unlocks. If you’re into this, be careful.”
At the time of writing, AXS is trading at $9.15.
“Why are so many people afraid of 2018 price action? Because it reminds us of the $6000 floor. The bounce gets weaker and weaker, like dropping a rubber ball on the ground. The first test is the best test and then the responses get weaker and weaker.”
At the time of writing, Bitcoin is trading at $19,157.
“Current trading range; lows around $6.80 are next if Bitcoin continues to sink…
[Technical analysis] Not of value here on a newly listed coin but still has a lot of volume and volatility. It will probably go down around $7.60 in my opinion. I keep thinking that this person would move very strongly if Bitcoin were stable.”
At the time of writing, APT is trading at $7.46.
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