AXS skyrockets 130% per week to new ATH

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The interactive game Axie Infinity has attracted nearly $ 2 billion from the native token locked to its platform, which is a new record. At the same time, the price of AXS climbed to an ATH on its own after a triple-digit weekly increase.

  • Launched less than a year ago, Axie Infinity is an Ethereum-based online game that has grown exponentially over the past few months in terms of activity and engagement.
  • CryptoPotato reported last week when the number of holders hit a record after a 420% increase since the start of the year.
  • Demand for the platform does not appear to be waning, in part due to the unusually high estimated rewards provided by Axie Infinity. According to website, the current APR is 187%.
  • Users wishing to participate have to stake their AXS tokens, which essentially increases the demand for them while decreasing the supply.
  • To date, there are over 12,500,000 coins in play. From the perspective of the US dollar, their value has reached a record high of $ 1.84 billion.
  • This means that around 20% of AXS ‘entire circulating supply, which currently stands at just over 61 million, has been staked on the platform.
  • Predictably, this supply-demand ratio resulted in impressive pricing performance for the native token.
  • AXS has soared about 130% over the past week and earlier today it hit a new all-time high of around $ 145. Just for reference, the token traded below $ 50 on September 21. This means it almost tripled its value in less than two weeks.
  • As a result, AXS entered the top 20 coins by market cap, with its own reaching nearly $ 9 billion.
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