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Unpacking the Axie Infinity downturn
Axie Infinity raised $864,000 in a private sale of 10,800,000 $AXS in the middle of 2020.
The private Sale price is only $0.08.
Even if investors in the private sale dump $AXS at $10, they're still making 125x.
So selling after unlocking is very likely to happen. pic.twitter.com/8F0oM5PYIs
— Lookonchain (@lookonchain) October 19, 2022
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.