Crypto Trader Becomes Optimistic About Ethereum-Based Altcoin, Foresees Project as the Axie Infinity of This Cycle
One prominent trader believes that a gaming project on the Ethereum (ETH) blockchain has the potential to become the next Axie Infinity (AXS) of this market cycle. AXS was one of the top-performing coins in 2021, experiencing an impressive gain of 174,900% as its value surged from $0.10 to $175. Now, a pseudonymous trader known as Criptopaul, who has a following of 107,600 on the social media platform X, suggests that Heroes of Mavia (MAVIA), a play-to-earn game, could achieve similar success. The trader highlights the game’s backing from reputable venture capital firms, such as Binance Labs, Hashkey, Delphi Digital, Animoca Brands, Merit Circle, and Genblock, as a contributing factor to its potential. Criptopaul has invested heavily in MAVIA at a price of $3.33 and believes it is the best Web3 game in the crypto space, bridging concepts from Web2 to Web3 and gaining significant adoption and attention from users and YouTube. The trader anticipates a potential return on investment (ROI) of 15-20x and identifies the $5 level as the first resistance level for MAVIA. Criptopaul also mentions the likelihood of a sudden movement in the Ethereum versus Bitcoin pair (ETH/BTC), which often serves as an indicator of altcoin strength. The trader expects that many people will be caught off guard by a pump in ETH/BTC, leading to increased confidence in the market. Criptopaul concludes by referencing the popular investment adage “buy when there is blood in the streets,” noting that although it is a simple rule, many find it challenging to apply.