Axie Infinity token soars 115% amid airdrop

Axie Infinity token soars 115% amid airdrop

Axie Infinity's (AXS) native blockchain token has risen 115% in the past four days and hit an all-time high of $155 on October 4. The project's capitalisation exceeded $9bn, according to CoinGecko.

AXS traded at $72 on September 30 and started rising after the project distributed more than $60 million in tokens.

Axie Infinity has also launched a staking opportunity - users have already sent 12.4 million AXS (about $1.86 billion at the time of writing).

Earlier in the Scoop podcast, Axie Infinity developers announced the launch of their own decentralised exchange (DEX). The solution will facilitate trading in the project's ecosystem.

People want to buy and use tokens in the same place without having to use a bridge all the time, Axie Infinity co-founder Jeff Zirlin told The Block.

DEX will build on the Ethereum-linked sidechain Ronin, created specifically for the blockchain game.

Recall that in September, Zirlin described the GameFi segment as key to the widespread adoption and proliferation of cryptocurrencies.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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