Axie Infinity’s price is plummeting due to an SEC lawsuit calling AXS a security. Meanwhile, Green Crypto Ecoterra raised $5 million and may have 100x potential in 2023.
The previous week was a disaster for Axie Infinity Shards (AXS), the digital token that powers the Axie Infinity web3 play-to-earn (P2E) gaming ecosystem.
AXS decreased by more than 30%, dropping from around $7.6 per token to fresh near two-year lows under $5.0 per token, which was its worst one-week performance in over two years.
The cause of the drop was the US Securities and Exchange Commission (SEC)’s allegation that AXS (and several other major cryptocurrencies) is a security. This claim was made in two lawsuits against Coinbase and Binance.
Assets considered securities face significantly higher levels of regulation in the US than non-security assets (such as commodities).
- Robinhood reports 68% drop in crypto trading vs. 2022.
- Investors turn to stablecoin Tether due to Turkey’s economic ...
- IOG, the developer of Cardano, restructures to venture studio model...
The decision on whether AXS is a security or not is still pending and will ultimately be determined by US courts, but the possibility that AXS may face higher regulations in the future may prompt crypto platforms operating in the US to remove the cryptocurrency, reducing its demand and liquidity.
AXS could now drop all the way to test its May/June 2021 lows under $3.0 per token, marking a further 40% decline from current levels, and taking the pullback from the 2021 bull market highs to around 97%.
AXS to Zero?
Given the extent of the AXS price decline, some analysts are making the inflammatory claims that the AXS token price could be headed to zero.
However, since the Axie Infinity team is still working on the game and fulfilling the project’s roadmap, that prediction is unlikely to be correct in the end.
Nevertheless, AXS’s near-term outlook is not promising.
On the other hand, things are going much better for a new green crypto project called ecoterra.
As outlined in the project’s Whitepaper, Ecoterra is building an all-in-one $ECOTERRA-powered web3 ecosystem, designed to encourage recycling via its first-of-its-kind Recycle-to-Earn (R2E) system, facilitate trade in recycled materials, and encourage individuals and businesses to offset their carbon footprint.
The project’s presale of its native $ECOTERRA token just surpassed the huge $5 million milestone, which is a strong vote of confidence in the project’s vision from the crypto investing community.
Observers expect the pace of the presale to pick up now that the project is accepting invitations for users to try out a demo version of the flagship R2E application.
Nascent green web3 projects like ecoterra are expected to play an increasingly important role in global efforts to address climate change in the decades ahead as crypto’s broader adoption increases.
It’s no wonder, then, that the crypto presale that ecoterra is currently running in order to fund the development of its platform has been a resounding success.
Visit Ecoterra Here
How Does Ecoterra Work?
When used properly, blockchain technology has an unparalleled ability to promote environmentally friendly behaviors by rewarding recycling, making it easier to offset carbon emissions, and tracking environmental impact by utilizing the blockchain’s transparency.
Ecoterra is building an all-in-one application that does all three of these things and more.
Ecoterra rewards users with the platform’s native $ECOTERRA crypto token every time they recycle.
The green web3 start-up’s R2E app is supported in any country that uses Reverse Vending Machines (RVMs), meaning a huge potential market.
The platform features a carbon offset marketplace to make it easier for individuals and businesses to offset their carbon footprint.
Ecoterra also features a recycled materials marketplace to make it easier for businesses to purchase recycled goods using $ECOTERRA or other cryptocurrencies.
Meanwhile, thanks to the transparency of the blockchain, ecoterra allows individuals and businesses to track their environmentally friendly practices via an Impact Trackable Profile.
Observers predict this feature to be very popular amongst environmentally-conscious businesses, who can use Impact Trackable Profile to boost their brand image and bolster customer loyalty.
Learn More Here
$ECOTERRA – 100x Potential in 2023?
Thanks to the use of $ECOTERRA to power the Ecoterra platform, it has inherent usefulness.
Aside from serving as the main medium of exchange on the platform, $ECOTERRA holders will also receive VIP access to real-world events, educational programs, and more.
The Ecoterra development team plans to introduce a staking protocol in the future, allowing ECOTERRA holders to generate a passive income from their token holdings, providing further incentive for investors to hold the token beyond expected price gains on the public market.
The total supply of $ECOTERRA is capped at two billion, with one billion (50%) made available to presale investors.
20% of the supply is allocated to ecosystem liquidity, 10% to listings and marketing, and 5% to corporate adoption.
Only 5% is allocated to the team, so if they want to profit significantly from the project, they will need to remain committed for a long time in order to drive up the price of $ECOTERRA.
As nascent green web3 projects like Ecoterra are expected to play an increasingly important role in global efforts to combat climate change in the coming decades, it’s no surprise that analysts are predicting big things for the $ECOTERRA token.
While 100x gains by 2023 may be overly optimistic, analysts are highly optimistic about the project.
Popular British crypto presale analyst Jacob Crypto Bury believes that $ECOTERRA has the potential to increase tenfold when it launches on cryptocurrency exchanges later this year.
Buy Ecoterra Here