AXS and axie prices about to drop

Pancake market power!

Even though pancakeswap pool shows AXS under as little as 64% APR, AXS should not rise in price, because it had been regulated upwards thanks to the AXS-CAKE farm. Unlike other farms, you also get the option to stake AXS itself to earn cake, which has been floating around $15 for a few months already. This "stake AXS, earn CAKE" pool is the reason for the most recent price spike.

A great consumer boom was keeping Axie monsters up high after those DDoS attacks made purchasing so complicated earlier this month, which had resulted in a short-term spike. Now that Axie servers are mostly stable again, pancake swap is the only thing stopping axies from dropping floor prices by at least $50.

You need 2 axies, 4 AXS and a few hundred SLP to create a new axie. This set of pools is coming to an end in only 5 days, so the great last incentive is about to finish, normalizing AXS prices. Unless developers come up with a new incentive to sustain $400+ prices for a single axie, next week is going to be the most affordable time to get into Axie Infinity.

Most players should not be worried too much, because everyone who is into Axie Infinity right now already understands the monthly income is always high. Even if how much money you withdraw relies on SLP prices, players understand it's going to stay high no matter what. Heck, if it drops, people will see it as "less high" at the very worst.

AXS is going to drop bit by bit while the pool hasn't ended, but if you're holding AXS right now, you should think twice about how much you need it immediately. No one likes to see their assets drop in value by over 30% in just a few days. Buy low, sell high, eh?

Curious fact: holding DEC earns more than any pancakeswap pool right now.

Image source: my screenshot of the AXS pool's termination date from bscscan