Axie Infinity: Almost 20 days after the Ronin hack, are investors still wary of AXS

ambcrypto.com:

Earlier this month, Ronin, the Ethereum Sidechain that hosts the popular play-to-earn blockchain game Axie Infinity was hit by hackers. The hack was deemed to be one of the biggest hacks in crypto history totaling $622 million in crypto. Last week, Binance reported that it recovered $5.8m of the stolen $622 million. Similarly, the U.S Treasury included in its Sanctions List, the Ethereum Wallet belonging to the Lazarus Group (the attacker).

However, in the face of growing sanctions, the Lazarus Group continues to intensify efforts to launder the stolen funds. How has the Axie Infinity token, AXS fared in light of all this?

Before the hit of 4 April, the AXS token recorded a high of $74.68 on 2 April. However following the hack, a bloodbath ensued causing a sharp decline in the value of the token. Price of the AXS Token fell from $63.49 on 4 April to $42.43 at the time of the writing. This represented a near 33% decline.

Source: CoinMarketCap

Similarly, the coin have shed over 40% of its market capitalization. It market cap declined from  $4.55 billion recorded at the beginning of April to $2.57 billion noted on price charts at the time of this writing.

Further, a look at the MACD for the token presented increased distribution from 4 April. This represented an indication that gamers and investors alike exited their positions to take profit following the hack. This was confirmed by the RSI which stood at 31.54 at the time of this press. Recording a high of 62 as at 3 April, it has since been on a downward trend, maintaining a position below the neutral level.

Also, a look at the Money Flow Index (MFI) following the hack suggested increased outflow of money from the AXS Token. However after hitting a low of 14 on its MFI, it