• Axie Infinity (AXS) is today’s top gainer, hitting a four month high of $13.83.
• The increased gaming activity on the Axie Infinity blockchain is largely behind the ongoing bullish price action.
• Axie Infinity is a blockchain-based battling game owned and operated by players around the world, allowing players to collect, breed, raise, battle, and trade token-based creatures.
Axie Infinity (AXS) has seen an impressive surge today, with the token hitting a four-month high of $13.83. This makes it today’s top gainer, with STEPN coin following close behind. So what is causing the sudden surge in the price of AXS?
The crypto winter of late 2022 brought the price of the Axie Infinity token down from its all-time high (ATH) of $165.37 to trading below $10. However, the start of 2023 has seen a steady recovery for the token, with today being one of the greatest days for the token in recent history. At press time, the token was trading at $12.86 after a slight pullback from a high of $13.83.
The price surge can be attributed to the increased gaming activity on the Axie Infinity blockchain. Axie Infinity is a blockchain-based battling game owned and operated by players around the world. Inspired by games such as Tamagotchi and Pokémon, the game allows players to collect, breed, raise, battle, and trade token-based creatures.
The game has seen an increase in popularity over the past few months, with more and more players joining the ecosystem. This has led to an increased demand for the token, which in turn has driven up the price. The game has also seen an increase in the number of users participating in tournaments and engaging in the marketplace, which has further contributed to the rise in price.
The Axie Infinity team has been working hard to improve the game and make it more accessible to users. They have released a number of updates and features, such as the introduction of NFTs and the ability to trade Axie Infinity tokens on major exchanges. This has further contributed to the increase in demand for the token.
The Axie Infinity team has also been working to expand the game’s reach to new players and markets. This includes launching campaigns and events to increase the awareness of the game and its token. This has helped to attract more users to the ecosystem, which in turn has increased demand for the token and driven up the price.
Overall, the increasing popularity of the game, the expansion of the game’s reach, and the introduction of new features and updates have all contributed to the surge in the price of Axie Infinity. It remains to be seen how far the price will go, but it is clear that the token is on an upward trajectory.