Binance CEO CZ applauds Axie Infinity’s team, AXS prepares for recovery

content provided with permission by FXStreet

  • Changpeng Zhao, the CEO of Binance, recently applauded Axie Infinity for the project’s recovery from the Ronin network hack. 
  • Axie Infinity price plummeted through the recent bloodbath and posted nearly 15% gains overnight. 
  • Analysts reveal that Axie Infinity has dipped in USD value, however, the gaming token has held steady against Bitcoin. 

The CEO of the world’s largest cryptocurrency exchange appreciated the Axie Infinity team for the way they handled the attack on the blockchain. The Axie Infinity team releases “Origin” on android for users, fueling bullish sentiment. 

Axie Infinity on track to recover from recent slump

The recent market-wide correction hit Axie Infinity, and the gaming token lost 15% of its value overnight. While billions of dollars were shaved off of cryptocurrency market capitalization, proponents believe gaming tokens like Axie Infinity can make a comeback. 

Binance CEO Changpeng Zhao applauded the Axie Infinity team’s efforts to tackle the Ronin bridge hack. In light of recent events like UST’s collapse and LUNA’s run to zero, the crypto community has turned to gaming and metaverse tokens. 

CZ shared his views in a tweet. 

The CEO of the world’s largest exchange explained that there has been no positive response from the Terra team in the ongoing UST crisis. The team behind Axie Infinity differs from Terra in terms of action and response to a crisis situation. CZ believes Axie Infinity appropriately handled the crisis. 

Analysts at @P2Edaily noted that the Axie Infinity price has held steady against Bitcoin though the metaverse token plummeted against the USD. 

Analysts like @AltstreetBet hold a contrasting view and believe Axie Infinity price could witness a drop and plummet to levels between $14 and $10, revealing a bearish outlook.