Axie Infinity Price is Going to Zero after SEC Lawsuit Calls AXS a Security But Green Crypto Ecoterra Just Raised $5 Million – 100x Potential in 2023?
Last week was catastrophic for Axie Infinity Shards (AXS), the native token that powers web3 play-to-earn (P2E) gaming ecosystem Axie Infinity.
AXS dropped more than 30% from around $7.6 per token to fresh near two-year lows under $5.0 per token, its worst one-week performance in more than two years.
The catalyst for the drop was the US Securities and Exchange Commission (SEC)’s claim that AXS (and a number of other major cryptocurrencies) is a security, which was made in a double whammy of lawsuits against Coinbase and Binance.
Assets deemed as securities face significantly higher levels of regulation in the US than non-security assets (like commodities).
The verdict on whether AXS is a security or not is still out and will ultimately be determined by US courts, but the threat that AXS may face higher regulations in the future may encourage crypto platforms operating in the US to delist the cryptocurrency, reducing its demand and liquidity.
AXS could now fall 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.
Given that the Axie Infinity team continues to build out the game and deliver on the project’s roadmap, that prediction probably won’t ultimately prove correct.
But nonetheless, AXS’s near-term outlook isn’t great.
But 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.
And the project’s presale of its native $ECOTERRA token just surpassed the huge $5 million milestone, a strong vote of confidence in the project’s vision from the crypto investing community.
A NEW MAJOR MILESTONE ACHIEVED 🚀
— ecoterra (@ecoterraio) June 12, 2023
🎉 $5 MILLION RAISED 🎉
Let's celebrate with ecoterra and continue to participate in our #Presale. Together, we can make a positive impact and shape a better world 💚✨https://t.co/1fYkPOsPYG pic.twitter.com/69sK1QCaWF
And 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.
How Does Ecoterra Work?
When harnessed right, blockchain technology holds an unprecedented ability to promote environmentally friendly behaviors by rewarding recycling, making it easier to offset carbon emissions and tracking environmental impact utilizing the blockchain’s transparency.
ecoterra goes beyond being a typical sustainable project 🌿
— ecoterra (@ecoterraio) June 12, 2023
We harness the power of #Blockchain technology to provide complete transparency and seamless accessibility to all users 💎
Join our #Presale today to support a #EcoCrypto revolution⬇️https://t.co/1fYkPOsPYG pic.twitter.com/BFYXKNOMR6
And 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.
$ECOTERRA – 100x Potential in 2023?
Thanks to the fact the $ECOTERRA is used to power the ecoterra platform, it has built-in utility.
Beyond just functioning as the platform’s main medium of exchange, $ECOTERRA holders will also gain VIP access to real-world events, educational programs and much more.
💡 Unlock the potential of the #Web3 era with $ECOTERRA
— ecoterra (@ecoterraio) June 9, 2023
Our project is leading the sustainable innovation, offering a range of real-life utilities for our tokens, such as entrance to events, education programs, and MORE 🌱
Join our #Presale now ⬇️https://t.co/1fYkPOsPYG pic.twitter.com/yWrVJETOf9
Ecoterra’s development team intends to launch a staking protocol in the future that allows ECOTERRA holders to generate a passive income stream through their token holdings, adding further reason for investors to hold the token beyond just expected price gains on the public market.
$ECOTERRA’s supply is capped at two billion, with one billion of these (50%) being made available to presale investors.
20% is allocated to ecosystem liquidity, 10% to listings and marketing, and 5% to corporate adoption.
Only 5% is allocated to the team, meaning that if they want to make big money off of the project, they will have to stick with it for a long time in order to really pump the $ECOTERRA price.
With nascent green web3 projects like Ecoterra expected to play an increasingly important role in global efforts to address climate change in the decades ahead, it’s no wonder analysts are predicting big things for the $ECOTERRA token.
While 100x gains as soon as 2023 might be a little optimistic, analysts are highly bullish on the project.
Popular British crypto presale analyst Jacob Crypto Bury thinks that $ECOTERRA has the potential to 10x when it launches across cryptocurrency exchanges later this year.
