Why did Axie Infinity fall?

Could you possibly explain to me the reasons behind the decline in the value of Axie Infinity? I've noticed a significant drop in its performance and I'm curious to understand the factors that have contributed to this trend. Was it due to market volatility? Did the game's popularity decrease? Or were there any specific events or announcements that had a negative impact on its value? I'm keen to gain a deeper understanding of this matter and how it might affect the cryptocurrency and gaming industries in the future.