AXS, the native token of Axie Infinity, a blockchain-based game in which players purchase fantasy creatures called Axies and then pit them against each other in battles, suddenly gained 25% in about an hour. At the time of publication, AXS was up 26.32% at $8.51.
The crypto token was likewise demonstrating gains of 27.65% over the past seven days. The price jump also coincides with an increase in trading volumes, with traders taking advantage of the recent volatility to capture profits.
AXS has also moved up in the crypto market rankings and is now the 50th largest cryptocurrency with a market capitalization of $813 million.
GameFi (Axie, God's Infinity, and new projects like CosmoGene (early access) and LifeBeyond there to keep the momentum going) seem to be doing the best out of all of crypto and news like these only contribute to that.
The Axie Infinity community seemed delighted after a recent positive announcement by the blockchain-based game.
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