Ann: Leads investment into Sky Mavis, maker of Axie Infinity, page-261

@Mom88
Let me clarify something as i'm not sure of the in-game mechanics of purchases - I only trade the coin...
Are in-game purchases all based on the value of the coin? ie. you need 20 coins to buy a new egg/character/piece of equipment, and so you're essentially paying 20x current market price of the coin? I assume this is how it works rather than set prices for in game items.

If so then much of that revenue being generated is because of the whales - perhaps even the company - grooming the market.
I watch it much of the day, as an order flow trader i've seen this same pump action many times before. They're pushing it as high as they can to test the limits of what the average players willing to spend per item/upgrade.
It would be a mistake to think the coins value is determined solely or even mostly based on supply:demand.... or that even if user numbers continue to increase that the value of AXS will also increase proportionally...

When the demand slows - and it's looks that way already due to the already exorbitant costs to play the game (I remember when AXS was ~$20 and people were saying it costs like $500 to setup a new account, so that must be over 1k by now).... you can buy a new PS5 and game box deal for less than that...

I've already noticed the arbitraging bots aren't pushing it up in tandem with btc when it pumps... that's the first sign a top is in.