Axie Infinity’s AXS Has High Bullish Chances After Binance Recovery

Despite the recent decline in the price of Axie Infinity, there has been an increase in the number of holders of the game’s token, according to data from Token Terminal.

Based on this, analysts revealed an optimistic view of the AXS, predicting a rebound from the downtrend.

As reported, Lazarus Group stole nearly $625 million in an attack on Axie Infinity’s layer 2 blockchain, Ronin.

This Friday (22), Binance, the world’s largest cryptocurrency exchange, announced the successful recovery of $5.8 million distributed across 86 accounts on its platform. The news was revealed by Changpeng Zhao (CZ), founder and CEO of Binance:

The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it made to Binance, spread across over 86 accounts. $5.8M has been recovered. We’ve done this many times for other projects in the past too. stay #SAFU.

— CZ 🔶 Binance (@cz_binance) April 22, 2022

Axie Infinity can start its recovery

Market analysts believe that the recovery of some of the stolen funds could fuel positive sentiment among investors.

“The price of Axie Infinity can start its recovery from the slump and end the losses of the last few weeks,” said Ekta Mourya.

In any case, the recent correction in the price of AXS has not stopped holders from accumulating the tokens. Cryptocurrency data platform Token Terminal has seen an increase in the number of holders of the crypto asset despite the drop.

Another analyst believing in a rally for AXS is CryptoTony. He noted that a drop in the price of the Axie Infinity token should be regarded as a healthy correction.

According to the analyst, the low is a buying opportunity for traders. After all, the trend is for the price of the digital asset to recover its value and print new gains.

Currently on the swing low and so i am looking for an impulse up for us to look for a play. Swing lows provide the best RR opportunity, as long as we hold that level of course.