Bittime - The crypto market, which is famous for its volatility, is back in the spotlight with the success story of a trader who managed to sell his ownership of Axie Infinity (AXS) at a peak price of $150 around Rp2.1 million.
Just information, Axie Infinity is a game built on the Ethereum blockchain. This game is included in the type of gamefi (game finance), which is a game that combines games with blockchain to generate income for players.
Axie Infinity's token, AXS, saw a dramatic increase in token value from under $1 to a peak to break $165 in November 2021. This surge attracts many users who are interested in earning rewards through gameplay, which in turn increases the value of those tokens. This unnamed trader managed to pocket a profit of $ 25 million or around Rp389 billion from trades carried out correctly.
After Profit from AXS
According to Finbold's report, after the success with the Axie Infinity, the trader switched focus to a memecoin known as BEFE, which he bought for $0.0004. BEFE, launching at the end of 2023, is a memecoin that aims to harness community engagement and harness the power of memes to fuel its growth.
Although memecoins are often considered unstable and often criticized for their lack of apparent utility, BEFE seeks to differentiate itself in several ways. First, BEFE emphasizes building strong communities through social media interactions, contests, and charity initiatives. It creates a sense of collective ownership and purpose, potentially driving organic growth through community-driven marketing and advocacy.
Secondly, the visionary team behind BEFE chose to distribute tokens through a fair launch, with no pre-launch or allocation for tokens, as well as offering users zero taxes on transactions. Third, although still in its infancy, BEFE has been listed on several leading crypto exchanges.
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BEFE Faces Challenges
However, BEFEs also face significant challenges. Memecoins are highly susceptible to fluctuations based on sentiment and hype, which presents a high-risk situation with high rewards for investors.
Currently, many memecoins lack established utility compared to crypto projects with proven track records. These conditions raise concerns about the long-term sustainability of memecoins. In addition, the memecoin market is saturated, and BEFE needs to create its own niche and stand out from a large number of competitors to maintain its momentum.
An individual's decision to invest in BEFE after selling AXS may be driven by BEFE's unique value proposition. The current price at which BEFE is traded allows traders to accumulate a large number of tokens, paving the way for future profits.
Other possible factors include the expectation to repeat previous performance with Axie Infinity by investing in other high-growth projects, even if it carries certain risks.
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Kesimpulan
Selain itu, strategi diversifikasi mungkin juga berperan, di mana investasi ini mewakili sebagian kecil dari portofolio keseluruhan individu, berfungsi sebagai cara untuk mendiversifikasi kepemilikan mereka dan berpotensi mendapat manfaat dari lonjakan harga BEFE di masa depan. Keberhasilan trader dengan Axie Infinity dan langkah selanjutnya ke BEFE menyoroti risiko tinggi dan imbalan tinggi dari investasi kripto tertentu terutama memecoin.
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Cara Beli Axie Infinity (AXS) di Bittime
You can buy and sell Axie Infinity (AXS) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Axie Infinity (AXS) is available on Bittime with the AXS/IDR market pair. To be able to buy AXS IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Axie Infinity (AXS) on Bittime.
Monitor the price chart movements of Axie Infinity (AXS), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
What Is Tokenomics And 5 Crypto Coins That Have Interesting Tokenomics
What is Axie Infinity (AXS)? Era Gaming Blockchain
Axie Infinity (AXS): Future Price Potential (2024-2035)
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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