Over 100% Record Jump for Axie Infinity in Just 3 Days

3 min readJul 27, 2021

Gaming cryptocurrency traders were over the moon as they rallied to make Axie Infinity record its highest jump in just three days. This comes as speculative news suggests that the gaming cryptocurrency will revolutionize the blockchain-enabled gaming industry forever.

The AXS-USD exchange rate reached a record $32.69 on Friday, up 31% from its day-to date low of $14.09 and 131% from Tuesday at the start of the week.

With this jump, it made AXS reach the list of best performing digital assets.

Axie Infinity’s recent soaring popularity as a play-to-earn gaming service could provide an enormous upside for the project. In detail, Axie Infinity is an Ethereum enabled blockchain project that features the ability to adopt and breed digital pets on the platform — these are called axies.

The game changer

The reason for the game’s rising popularity is due to the fact that it allows players to play and earn. In detail, the Ethereum enabled blockchain company is an expensive game where players buy digital pets and trade them for non-fungible tokens (NFT) on the platform.

Sky Mavis, the developer of Axie world, has said that “everyone can shape economic policies and practice local governance in a metaverse.” This virtual environment has attracted many netizens: as of July, its total revenue reached $120 million following just one year.

Axie developers seek to establish a play-to-earn model. By doing so, they reward players for their time and effort spent both playing the game and growing the ecosystem. Two token assets, Axie Infinity Shards (AXS) and Small Love Potions (SLP), exist in order to facilitate transactions within the system.

What is AXS

Axie developers focus on creating a play-to-earn model. The project rewards players by compensating them for their time and effort.

Players earn SLP by playing Axie’s gameplay. They can then exchange it for fiat, which is like giving players per hour of play wage. As of late, many players are making $20 a day from rewards due to higher earnings.

The AXS token provides tremendous benefits within the Axie Infinity ecosystem. For example, holders of this token receive all the fees generated by trading and governance rights in addition to lower premiums on purchasing power associated with their tokens.

As a result, these top-tier economic incentives are just like government taxes collected from its citizens which results in 95%.

AXS price technicals

The latest rally from AXS has been spurred by the sector-wide rebound, led by Elon Musk’s revelation of his space technology company, SpaceX. He also committed Tesla to re-add Bitcoin (BTC) as a payment option for its electric vehicles once it switches to green energy solutions for mining.

Bitcoin’s rebound from below $30,000 has resulted in a similar retracement pattern for cryptocurrency competitors like AXS. However, the Axie Infinity token has outperformed its digital asset rivals because of the enthusiasm around their game project.

AXS trading volume and market sentiment rise

Additionally, a bullish forecast from Cointelegraph Markets Pro was detected on Friday before the recent rise in AXS’s price.

Cointelegraph’s VORTECS™ Score is an algorithmic comparison of historic and current market conditions that favors sentiment, trading volume, recent price movements, and Twitter activity.

The conditions then shifted upward and soon after as prices went up to 78 before coming back down at 00:00 UTC and down to 65 sometime after that.

To wrap things up

AXS is certainly making waves in the gaming work and more specifically the blockchain gaming world. The potential for players to earn money and trade in NFTs makes it an exciting time for gamers of all levels.

Source: Cointelegraph news