AXS to USD is the pairing of two unique currencies, the relatively new Axie Infinity Shard (AXS) and what many consider the world’s currency, the US dollar (USD). While the pair can be written a variety of ways including AXS/USD, AXS-USD, and AXS USD, it always represents 1 Axie Infinity Shard in US dollars. Different from Bitcoin and so many of the ‘original’ crypto tokens, AXS is one of the native tokens of Axie Infinity, an NFT game with a corresponding network that is based on the Ethereum blockchain. Axie Infinity Shards are earned by players who complete tasks within the online game and can also be bought and sold on crypto exchanges such as eToroX. For investors trading AXS-USD, eToroX—eToro’s professional investment exchange for crypto—features advanced AXS charts and converters, as well as other tools and services designed for advanced investors.
eToroX, which was designed for corporate and professional crypto investors, offers trading tools perfectly suited for trading AXS-USD as well as a constantly expanding choice of crypto coins and digital assets. In addition to Axie Shards, you can trade Bitcoin, NEO, and Ethereum as well as many of the recent crypto additions to eToroX including QNT, SUSHI, and $CHZ. eToroX has a rich product suite featuring a Fiat gateway for near-instant transfers, an advanced API protocol, and a credit line program for spot trading. eToroX is highly committed to the safety and security of its users, with regulation provided through GFSC, the Gibraltar Financial Services Commission. Additionally, there is round-the-clock trading, low fees on withdrawals, and no fees on deposits regardless of trading AXS/USD or any of the other cryptos available on eToroX.
ASX is one of two native tokens of Axie Infinity, an online game created on the Ethereum network and launched by Trung Nguyen, a game developer, in 2018. The other token is SLP (Smooth Love Potions). Similar to Neo’s two main tokens, NEO and GAS, AXS is used as a governance token where holders can vote on the future of Axie Infinity while SLP is used as Axie Infinity’s in-game token. While some AXS are created through in-game play, AXS can be bought and sold like ‘traditional’ crypto on exchanges such as eToroX, where it trades as AXS/USD. Axies are NFTs, which stand for non-fungible tokens. NFTs are digital assets representing unique, limited objects of value such as artwork, jewelry, property, and even video game items, traded in-game. Oftentimes, NFTs are bought and sold with cryptocurrency and embedded with a digital signature using crypto-based software. In Axie Infinity, players can earn money through in-game activities where players collect, battle, raise and breed virtual pets called Axies. Dubbed a ‘play to earn’ game, Axie Infinity is considered one of the world’s first crypto-based video games, making Axie Infinity a true game-changer. Significantly, Axie Infinity is changing the way people game, earn money and invest. In October 2021, there were some 2 million daily Axie Infinity players around the world, and since the game’s creation, several major investors, including Mark Cuban and Alexis Ohan—one of the founders of Reddit—have taken an active role as investors in the company.
Today Axie Infinity Shards are used to purchase NFTs within Axie Infinity, have a role in governing the ASX platform, affect the future of the game, and as an investment vehicle. Like many other cryptoassets, ASX supply is limited, with a future maximum set at 270,000,000. The circulating supply at the tail end of 2021 is gaining on 61 million, about 23% of the maximum. 2021 was a strong year for ASX USD, where the first few months saw the token trading at under $1 and later reaching over $150 in November 2021. With Axie Infinity rising in popularity, many investors and game enthusiasts will be keeping their eyes on the price of ASX.
When trading any asset, understanding key factors related to the financial ecosystem, the asset itself, and changes believed to be on the horizon are important. Here at eToroX, we endeavor to help investors become as knowledgeable as they would like. We offer traders a vast array of educational resources and trading tools such as crypto and market research and analysis, charts, and live price calculators on the cryptos we offer. As you delve into the crypto sector, and consider trading ASX to USD on eToroX, for instance, you can take advantage of all the tools on offer. A key step in successful pairs trading is understanding the basics, for example, understanding the meaning base and quote as it pertains to the buying and selling of crypto. The ticker symbols ASX USD, when written like this, are simply expressing the buying of Axis Infinity Shards in exchange for US dollars. In this case, the cryptocurrency ASX is the base currency while the USD is the quote currency. The base currency is always stated as an offer for one unit of the quote currency, where the quote currency moves in relation to the value of 1 base unit. In this case, it is 1 ASX in USD.