AXS/USDT SELL |Trading Competition - Crypto Academy / S6t4 - Homework post for pelon53.
Hello, wonderful people of steemit, hello professor @pelon53, it is another day of the steemit Crypto Academy trading Contest week 3 and as a participant today, I will be trading on Axie Infinity (AXS).
1.The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc.
What Is Axie Infinity
Axie Infinity is a trading and battling game that operates with the blockchain technology. The Axie infinity is a game that lets players to buy, breed, battle and sell creatures called Axies. Axie infinity gives it's players partial ownership and control over their Axies
The Axies are in different forms with their body parts over 500 in category including bug, reptile, beast, plane and bird parts. These body parts are classified into four namely; common, rare, ultra rare and legendary. An axie can posses body combination of different parts as the player wishes and this is what makes every single axie unique and rare.
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Every Axie is represented by a non-fungible token and posses varying strength and attributes. A player can take his axie to a 3×3 battle and whoever wins the battle will earn experience points. Leveling up an Axies statistics or evolving the body part of an axie can be done using the experience point earned at battle. Also, a player who has upto two Axies can breed them together to create an offspring which would become another unique axie. These reproduced axie can be used in battle or can also be sold.
Axie Infinity has a special token for governance of it's ecosystem known as Axie Infinity Shards (AXS). This token gives it's holders power to engage in important governance votes and also power to decide on the spending of the Axie community Treasury funds
Founders of Axie Infinity
Sky Mavis created Axie Infinity in 2018. He is a game developer whose main focus is in technology games. Axie Infinity also has co-founders by name Aleksandr Larsen and Trung Nguyen.
Aleksander Larsen is a well known former competitive gamer. He has gained experience in the world of gaming dating back to 2017 when stared developing blockchain games. He is also has the position of the secretary at Blockchain game Alliance.
The present CEO of Axie Infinity is Trung Nguyen. He is a graduate of computer software engineering with a BS and has also worked at Anduin Transactions as a software engineer.
About Axie Infinity token (AXS)
Axie Infinity Shards is the native token of the Axie Infinity ecosystem. At the time of writing, the price of AXS is $64.50. It has a market cap of $3,928,378,505 with a trading volume of $450,678,805. AXS has a circulating supply of 60,907,500.00 AXS
out of a maximum supply of 270,000,000 AXS. It is the 44 ranking coin on coin listings.
screenshot taken from coinmarketcap
| Metric | Value |
|---|---|
| Explorer | Etherscan.io, explorer.harmony.one, bscscan.com |
| Contract address | Solana: HysWcbHiYY9888pHbaqhwLYZQeZrcQMXKQWRqS7zcPK5, BNB Smart Chain (bep20); 0x4338665cbb7b2485a8855a139b75d5e34ab0db94, Ronin: 0x97a9107c1793bc407d6f527b77e7fff4d812bece, Harmony: 0x14a7b318fed66ffdcc80c1517c172c13852865de, Ethereum: 0xbb0e17ef65f82ab018d8edd776e8dd940327b28b |
| Link | axieinfinity.com |
| Rank | #44 |
| All time high/ Low | $165.37 / $0.1234 |
Market Place of AXS Token
Some places where AXS can be traded include
| sn | Exchange | Pair |
|---|---|---|
| 1 | BINANCE | AXS/USDT, AXS/BTC, AXS/BUSD, AXS/TRY, ASX/ETH |
| 2 | KUCOIN | AXS/USDT |
| 3 | GATE.IO | AXS/USDT, AXS/USD, AXS/ETH |
| 4 | COINBASE | AXSL/USDT, AXS/USD, AXS/BTC, AXS/EUR |
| 5 | HOUBI GLOBAL | AXS/USDT, AXS/BTC, AXS/ETH |
| 6 | KRAKEN | AXS/USD, AXS/EUR |
| 7 | BITHUMB | AXS/KRW, AXS/BTC |
2. Why are you optimistic about this token today, and how long do you think it can rise?
Today I am optimistic about this token because
• The Axie Infinity protocol has set in motions wheels that will catapult the success of the blockchain. An example is the utility of the AXS token in powering the game based ecosystem of Axie Infinity. As of today, there are over 2.8 million players of Axie Infinity on a daily scale with an in game trading volume of over 3.6 billion. The continuous increase in the use/ interaction with Axie Infinity will definitely bring about an increase in the AXS token.
• Axie Infinity has succeeded in bringing in entertainment into the cryto space. So far, blockchain technology has always been solely about the exchange of financial value. Well, the likes of Axie Infinity has introduced gaming using a decentralized system. Now users can play games and also win tokens simultaneously. This is a huge source of investment attraction to Axie Infinity and the world of cryptocurrency at large.
3. How to analyze the token? (using the analysis knowledge learned from professors’ courses) —- important part
For today's trading excercise, I will use KUCOIN exchange and I will trade on BCH/USDT pair. The analysis tools I will employ are TRIMA, parabolic SAR and Relative Strength Index (RSI). I will use tradingview for my chart Analysis.
Firstly, I open the tradingview chart and then input Heiken Ashi Chart for clearing out the market noise. Next, I input the Triangular moving average (TRIMA) and set the period as (10). The TRIMA curve has gone below the price to signal a uptrend. However, the candles have continued to make lower highs and lower lows so to verify the TRIMA, I employ another indicator.
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screenshot taken from Tradingview
Next, I input the Parabolic SAR indicator. The dots of the indicator can be spotted above the price to signal a bearish market. This is in accordance to the market recent happenings as can be seen.
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screenshot taken from Tradingview
Lastly, I input the RSI indicator. The price has just finished to test the overbought region hence a reversal should be expected.
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screenshot taken from Tradingview
Next , I open a sell/short trade and input my stop-loss and take profit at a risk reward ratio of 1:1.
screenshot taken from kucoin mobile app
screenshot taken from kucoin mobile app
4. Your plan to hold it for a long time or when to sell? / Do you recommend everyone to buy? and the reasons for recommending/not recommending
Axie Infinity is blockchain game project that enables different users in the form of players to be able to play games on the platform. These games if won, could bring a return in the form of experience that can be further used. Blockchain technology has never been better bringing the game world into cryptography where you can not only play play but also earn. I believe that the project behind AXS is a solid one and of course, it has proven to be so. AXS is among the top rated altcoins that still continue to make wave. I believe that it won't be out of place to tell someone to buy and hold AXS today.
If with enough resources, I would love to buy and hold AXS today because it will definitely turn a fortune in the nearest future.
