Axie Infinity Token Unlock (January 2023)

The chart highlights the price performance of Axie Infinity (AXS) in the past couple of days amid the token unlocking. It could be clearly noticed that before the token unlocking actually took place, there was positive sentiment for the AXS token. However, after the unlocking, there has been significant selling pressure which brought the price level down from its current year ATH of approximately $14.00 to the current recorded price of $11.20.

This might indicate that Axie Infinity is currently facing the second and unwanted case of token unlocking explained earlier. This means there is less demand for the token as compared to its circulating supply in the market.