Factors behind Axie Infinity token price moving up despite Bitcoin struggles – Despite the bearish down-trend of major cryptocurrencies like Bitcoin, Ethereum and Binance Coin (BNB) since May this year, Axie Infinity token have managed to defy market sentiments to reach a new all-time high.
The Axie Infinity token is playing a major role in resurrecting the fading Non-fungible token (NFT) boom which is taking the crypto market by storm; Axie Infinity, an Ethereum based game, is now one of the biggest successes of the play-to-earn model.
Featuring NFT’s like the game characters, the game monetizes breeding these characters and selling them. As a result, there is now a growing demand for Axies, whose stats can make them reach high prices in markets. This has incited a bit of an economic boom, generating more revenue than other known protocols last week.
Axie Infinity is a digital pet universe where players battle, raise, and trade fantasy creatures called Axies! Axie has a fully player owned economy allowing players to seamlessly sell and trade their game assets for digital currency.
Axie Infinity token (AXS) yesterday hit an all-time high of $16.64 and is currently trading at $13.69 as at the time of writing this report; the token have risen over 112x from its all-time low 8 months ago according to data from Coingecko.
This week, Axie generated more revenue than Metamask, Pancakeswap, Synthetix, MakerDAO, and Curve COMBINED, this is from breeding fees which have accounted for 4.25% of NFT volume on their marketplace.
Axie is still a pretty basic product and has many upgrades coming over the next 9 months.
This week, Axie generated more revenue than Metamask, Pancakeswap, Synthetix, MakerDAO, and Curve COMBINED.
This is from:
– Breeding fees.
– 4.25% of NFT volume on our marketplace.
— The Jiho (@Jihoz_Axie) July 4, 2021
Auxi Infinity token currently have a marketcap of $767million which also leaves a big room for growth; Axie is the first game designed to change the world and create economic freedom. This is one of the reason behind their exponential growth. Axie is more than a game, it’s a place for you to live, work, and play.
Growth has gone exponential with thousands of new citizens joining each day; 2.3 million unique visitors have visited Axieinfinity.com in the last 30 days!
Monthly volume on Auxi infinity marketplace skyrocketed 334% to over 128 million dollars (57,000 ETH)! Our volume is almost three time larger than the second place project.
They’ve also crossed 250,000 daily active players and 200,000 Discord members and on track to become the largest Discord server in the world, passing Fortnite, in about 18 weeks.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.