What happened to Axie Infinity?

So, let me get this straight. Axie Infinity, the popular blockchain-based game that combines elements of Pokemon and digital collectibles, has seemingly hit some turbulence recently. Players were raving about it, the market cap was soaring, and everyone seemed to be making money hand over fist. But now, things seem to have taken a turn for the worse. What exactly happened to Axie Infinity? Did the market just get oversaturated with digital pets? Did the game's popularity wane as players lost interest? Or was there some sort of scandal or security breach that caused the downfall? I'm curious to know what led to this sudden change in fortune for Axie Infinity.