Axie to Infinity! Play-to-earn token now the No. 31 crypto after parabolic rise
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Axie Infinity has continued its white-hot run, surging 64.9 per cent in the past 24 hours to become the No. 31 crypto with a market cap of US$4.3 billion.
The AXS token was changing hands this morning at US$71.70, up from US$16 a month ago when Stockhead first wrote about the gaming coin. It hit an all-time high of US$73.21 around 10am AEST.
— Loma (will never DM you) (@LomahCrypto) August 11, 2021
$AXS going insane right now 😍🚀
— bryce 🚀 (@brycent_) August 10, 2021
The play-to-earn game reached over 1 million daily players earlier this month. Axie also recently became the first NFT project to reach US$1 billion in all-time trading volume.
The project also this week tweeked its tokenomics, announcing there’ll be rewards for the top 1,000 players on the leaderboard at the end of season 18.
Back on May 16, Axie was just the No. 235 crypto with a market cap of US$373 million. AXS tokens were trading for $6.50.
Smooth Love Potions, the other tokens used in the game, were trading at a six-day high of US21.7c, up 4.1 per cent from yesterday. It’s the No. 180 crypto.
Helium token was the second-biggest gainer, rising 23.9 per cent to US$17.84 after venture capital firm Andreesen Horowitz (a16z) led a $111 million token sale.
Terra (LUNA), the Internet Computer, Ravencoin, Cardano, Kusama, Flow, Voyager Token, Holo and the Curve DAO Token were all up by double-digits as well.
Mdex was the biggest loser among the top 100 coins, dipping 1.6 per cent. The No. 97 crypto, Mdex is a decentralised protocol for trading on the Huobi Ecological Chain (HECO).
Bitcoin also edged lower, falling 0.6 per cent to US$45,769.
Ethereum was changing hands at US$3,172, up 1.7 per cent from yesterday.