The interactive game Axie Infinity has attracted nearly $2 billion worth of the native token locked on its platform, which is a new record. At the same time, the price of AXS has surged to an ATH on its own following a triple-digit weekly increase.
- Launched less than a year ago, Axie Infinity is an Ethereum-based online game that has seen exponential growth in the past several months in terms of activity and engagement.
- CryptoPotato reported last week when the number of holders tapped a record after a 420% year-to-date increase.
- The demand for the platform doesn’t seem to decline, partly because of the untypically high estimated rewards provided by Axie Infinity. According to the website, the current APR is 187%.
- Users wanting to participate have to stake their AXS tokens, which essentially increases the demand for them while decreasing the supply.
- As of now, there are more than 12,500,000 coins staked. From a USD perspective, their value has registered a record of $1.84 billion.
- This means that approximately 20% of all the circulating supply of AXS, which is currently just over 61 million, has been staked on the platform.
- Somewhat expectedly, this supply-demand ratio has resulted in impressive price performance for the native token.
- AXS has skyrocketed by roughly 130% in the past week and earlier today charted a fresh all-time high of around $145. Just for reference, the token traded below $50 on September 21st. Meaning it has nearly tripled its value in less than two weeks.
- Consequently, AXS has entered the top 20 coins by market capitalization as its own has grown to almost $9 billion.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
- &
- 000
- 84
- AI
- All
- around
- Billion
- border
- BTC
- capitalization
- code
- Coins
- content
- Current
- Demand
- Fees
- Free
- fresh
- Futures
- game
- Growth
- High
- HTTPS
- Increase
- interactive
- IT
- Limited
- Market
- Market Capitalization
- million
- months
- offer
- online
- performance
- perspective
- platform
- price
- Reading
- Rewards
- Share
- Sponsored
- stake
- supply
- time
- token
- Tokens
- top
- Trading
- USD
- USDT
- value
- week
- weekly
- worth
- year
More from CryptoPotato
CoinShares Report: 2023 Became Third-Largest Year for Cryptocurrency Inflows
Source Node: 2431684
Time Stamp: Jan 7, 2024
CryptoCom Pauses Withdrawals and Restarts Users’ 2FA Accounts After Reports of Suspicious Activity
Source Node: 1144255
Time Stamp: Jan 17, 2022
PancakeHunny Launches DeFi Platform that Integrates with Poker, Lottery and NFTs on BSC
Source Node: 891113
Time Stamp: May 31, 2021
DeFi Coins Surge by Double Digits as Bitcoin Nears $35K (Market Watch)
Source Node: 963538
Time Stamp: Jul 6, 2021
Singapore High Court Grants Troubled Zipmex 3-Month Relief From Creditors: Report
Source Node: 1623967
Time Stamp: Aug 15, 2022
Tether Collaborates With Georgia to Place the Country as a Global Blockchain Hub
Source Node: 2150503
Time Stamp: Jun 28, 2023
Thodex Founder Extradited to Turkey After Disappearing with $2.6B User Funds
Source Node: 2070073
Time Stamp: Apr 23, 2023
Crypto Resource DappRadar to Launch Own Governance Token
Source Node: 1117296
Time Stamp: Nov 28, 2021
Dark Side of Crypto: 98% of Projects Listed on Uniswap Are Scam (Study)
Source Node: 1735602
Time Stamp: Nov 5, 2022
Crypto.com Refutes Accusations of Proprietary Trading (Report)
Source Node: 2139993
Time Stamp: Jun 19, 2023
Coinbase Plans to Halt Ethereum Deposits and Withdrawals During the Merge
Source Node: 1626688
Time Stamp: Aug 16, 2022
Bitcoin at 10-Day High After Powell and Despite China FUD: The Weekly Recap
Source Node: 1092017
Time Stamp: Oct 1, 2021