Axie Infinity Struggles with Declining Price Amid Ongoing Legal Battle with SEC

Axie Infinity‘s (AXS) price is currently dwindling, touching a three-year low in the midst of an ongoing legal feud with the US Securities and Exchange Commission (SEC). In addition to the price dip, on-chain data suggests that players are gradually abandoning the GameFi protocol. Against this backdrop, one wonders if AXS can extricate itself from this falling trend. Axie Infinity Latest Status Following TheSanbox (SAND) and Decentraland (MANA), Axie Infinity (AXS) slipped to the third spot in the global GameFi ranking by market value. This latest price correction was triggered after the US Securities and Exchange Commission listed AXS among the crypto currencies classified as securities. What chance does the AXS price stand of recovering amidst such a negatively charged atmosphere? Axie Infinity’s native token, AXS, derives most of its utility and appeal from players who use it to pay for in-game assets and to gain exclusive access to crucial […] The post Axie Infinity Struggles with Declining Price Amid Ongoing Legal Battle with SEC appeared first on COINTURK NEWS.