Is axs currency a mainstream currency?

AXS is not a mainstream cryptocurrency due to its small market cap, limited adoption, high volatility, and unclear regulation.

No Mainstream cryptocurrencies. Mainstream cryptocurrencies are those that rank among the top cryptocurrencies by market capitalization and typically have widespread adoption and acceptance. Currently recognized mainstream cryptocurrencies include Bitcoin, Ethereum, Binance Coin, etc.

Features of AXS:

AXS is the governance token in the Axie Infinity game.

It is used to vote on the development of the game ecosystem and receive in-game rewards. AXS has a limited circulating supply, which gives it deflationary properties.

• Why AXS is not a mainstream currency:

Small market cap:

The market cap of AXS compared to mainstream cryptocurrencies smaller. As of June 2023, AXS has a market capitalization of approximately $300 million, while Bitcoin has a market capitalization of over $300 billion.

Limited Adoption:

AXS is primarily used in the Axie Infinity gaming ecosystem and its adoption is relatively small. It is not as widely accepted as a payment or investment tool like Bitcoin or Ethereum.
• High Volatility:
As a gaming token, AXS is affected by the gaming ecosystem and market sentiment. Its price tends to be more volatile than mainstream cryptocurrencies.
• Regulatory ambiguity:
The regulatory status of AXS remains unclear, which could hinder its wider adoption.

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