According to Coingecko, when the cryptocurrency market as a whole began to recover, Axie Infinity emerged as the leader among the top 100 cryptocurrencies in terms of price growth. Axie infinity’s trading volume surged among its competitors, including Flow (FLOW), Apecoin (APE), and Sandbox, demonstrating that other metaverse and NFT-focused cryptocurrencies also did very well (SAND).
Additionally, in the last day, the value of its AXS governance token has increased by 25.6%. AXS trading is now at $8.54, and it has established itself as the 46th biggest cryptocurrency with a market valuation of just little more than $970 million as of the time this article was written.
The increased sales volume over the last twenty-four hours is the cause of the positive price movement seen in tokens centered on the metaverse and NFTs. These tokens have been trading at higher prices. According to the information provided by CryptoSlam, the trading volume of Axie Infinity displayed huge fluctuations between about $18,000 and $48,000 over the course of the most recent few hours.
As of November 2021, when it reached its all-time high price of $164.90, AXS has lost 94.8% of its value, despite the fact that it is now on an upward trajectory. As a result of the positive price swings that have been occurring recently, about $20,000 worth of short contracts in AXS have been liquidated during the previous twenty-four hours.
Compiled by Coinbold