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Axie Infinity Gains 140% In The Last 7 Days

Axie Infinity’s AXS leaves other cryptocurrencies in the dust after making gains of around 140% in the last 7 days. Trading at $39.42, the asset’s market...
Axie Infinity Gains 140% In The Last 7 Days Axie Infinity Gains 140% In The Last 7 Days

  • Axie Infinity’s AXS leaves other cryptocurrencies in the dust after making gains of around 140% in the last 7 days.
  • Trading at $39.42, the asset’s market capitalization and trading volumes have also spiked.
  • The Axie Infinity project is a blockchain-based trading and battling game that has gained popularity in recent months because of the wide range of features it offers players.
  • Other gaming protocols such as Decentraland and Enjin have made gains over the last week but they pale in comparison to Axie Infinity’s progress.

Cryptocurrencies are discovering their form again after weeks in the doldrums of a bearish market. The new form sees several assets in the green but one project stands apart from the rest of the pack – Axie Infinity’s AXS.

AXS is one of the biggest gainers of the rally after notching a rise of over 140% in the last 7 days, dwarfing other cryptocurrencies. In recent times, the play-to-earn token has soared not only in value but has soared in popularity, going on to a new all-time high.

What Is Axie Infinity?

Axie Infinity is a block-chain based trading and battling game that allows users to breed and raise token-based beings called Axies. Axies are highly customizable and each one has different attributes and strengths.

The project was launched in 2018 and allows players to convert in-game tokens for real money. Given the successes of the project land purchases in the game set records and several individuals have quit their jobs to play Axie given the opportunity to earn money.

At the moment, active users have exceeded 350,000 and look set to continue its impressive growth. There is a circulating supply of 60,907,500 AXS while the max supply is fixed at 270,000,000 AXS.

Giant Steps For Axie

According to data from CoinMarketCap, Axie Infinity’s AXS has gained 149% in the last week which sees it trade at $39.01. In the grand scheme of things, this places AXS as the biggest gainer in the last 7 days amongst the top 100 cryptocurrencies.

This feat gives the asset a market capitalization of $2.3 billion and a ranking as the 44th biggest cryptocurrency. This meteoric rise in value led to the setting of a new all-time high of $49.58 two days ago amid a spike in the trading volumes for the asset.

When compared with other gaming projects, Axie Infinity’s gains are simply miles ahead. During the last week, tokens of popular gaming projects like Decentraland and Enjin only gained 25.62% and 26.09% respectively.

On The Flipside

  • After such impressive gains, investors should brace themselves for a market correction as shown by historical antecedents.
  • Since reaching its all-time high of $49.58, AXS is already down by 20%.

The Reason For The Rise

There are several contributing factors for the astronomical rise in the value of Axie Infinity. The first is the general price rally that is currently enjoined by the cryptocurrency markets. Bitcoin is trading at $38,333 which signifies a 12% rise in the last 24 hours while Ethereum is basking in a 9% increase which sees it trading at $2,300 while the global crypto market cap stands at $1.52 trillion.

Another reason for the price run is the launch of a sidechain known as Ronin that handles all the in-game and market transactions for the project. This has single-handedly increased transaction speeds and has reduced gas fees.

The simplistic nature of the Ronin sidechain has drawn new players to the game and the play-to-earn model is also a major incentive for the new players.

The global gaming market is on the rise and the introduction of a play-to-earn model is the perfect combination for success. Furthermore, the granting of scholarships to members of the community has played a role in the growth of the entire project.

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28-09-2021 20:22:23 (UTC+7)

EUR/USD

1.1680

-0.0014 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/USD

1.1680

-0.0014 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

GBP/USD

1.3558

-0.0137 (-1.00%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

USD/JPY

111.50

+0.51 (+0.46%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (7)

AUD/USD

0.7253

-0.0033 (-0.45%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.2653

+0.0026 (+0.21%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

130.24

+0.47 (+0.36%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

1.0847

+0.0024 (+0.22%)

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↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (2)

Gold Futures

1,734.80

-17.20 (-0.98%)

Summary

Buy

Moving Avg:

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Indicators:

Buy (4)

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Silver Futures

22.383

-0.311 (-1.37%)

Summary

↑ Buy

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Buy (12)

Sell (0)

Indicators:

Buy (6)

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Copper Futures

4.2693

-0.0202 (-0.47%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

Crude Oil WTI Futures

76.27

+0.82 (+1.09%)

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↑ Buy

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Indicators:

Buy (8)

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Brent Oil Futures

79.42

+0.70 (+0.89%)

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↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (8)

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Natural Gas Futures

5.952

+0.221 (+3.86%)

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Buy

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Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (1)

US Coffee C Futures

194.93

+1.28 (+0.66%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

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Euro Stoxx 50

4,105.70

-59.78 (-1.44%)

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↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (6)

Sell (0)

S&P 500

4,443.11

-12.37 (-0.28%)

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↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

DAX

15,405.65

-168.23 (-1.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (6)

Sell (0)

FTSE 100

7,069.87

+6.47 (+0.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Hang Seng

24,500.39

+291.61 (+1.20%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (1)

US Small Cap 2000

2,281.79

+33.71 (+1.50%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (7)

IBEX 35

8,904.50

-98.40 (-1.09%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

BASF SE NA O.N.

65.220

+0.480 (+0.74%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (1)

Bayer AG NA

47.68

+0.21 (+0.44%)

Summary

Neutral

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Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (2)

Allianz SE VNA O.N.

195.95

-0.24 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

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Buy (2)

Sell (4)

Adidas AG

271.00

-7.80 (-2.80%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (11)

Sell (0)

Deutsche Lufthansa AG

6.505

-0.056 (-0.85%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

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Buy (1)

Sell (6)

Siemens AG Class N

144.20

-3.07 (-2.08%)

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Buy (0)

Sell (12)

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Buy (0)

Sell (8)

Deutsche Bank AG

11.156

+0.036 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (1)

 EUR/USD1.1680↑ Sell
 GBP/USD1.3558↑ Buy
 USD/JPY111.50↑ Sell
 AUD/USD0.7253↑ Buy
 USD/CAD1.2653↑ Sell
 EUR/JPY130.24↑ Sell
 EUR/CHF1.0847↑ Buy
 Gold1,734.80Buy
 Silver22.383↑ Buy
 Copper4.2693↑ Buy
 Crude Oil WTI76.27↑ Buy
 Brent Oil79.42↑ Buy
 Natural Gas5.952Buy
 US Coffee C194.93↑ Buy
 Euro Stoxx 504,105.70↑ Buy
 S&P 5004,443.11↑ Sell
 DAX15,405.65↑ Buy
 FTSE 1007,069.87↑ Buy
 Hang Seng24,500.39↑ Buy
 Small Cap 20002,281.79↑ Sell
 IBEX 358,904.50↑ Buy
 BASF65.220↑ Buy
 Bayer47.68Neutral
 Allianz195.95↑ Sell
 Adidas271.00↑ Buy
 Lufthansa6.505Sell
 Siemens AG144.20↑ Sell
 Deutsche Bank AG11.156↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,655/ 5,705
(-10/ -10) # 932
SJC HCM5,645/ 5,710
(10/ 10) # 935
SJC Hanoi5,645/ 5,712
(10/ 10) # 937
SJC Danang5,645/ 5,712
(10/ 10) # 937
SJC Nhatrang5,645/ 5,712
(10/ 10) # 937
SJC Cantho5,645/ 5,712
(10/ 10) # 937
Cập nhật 28-09-2021 20:22:25
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,734.92-16.25-0.93%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$76.04-0.79-1.05%
Brent$79.32-0.72-0.92%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.640,0022.870,00
EUR25.936,3927.286,23
GBP30.388,5931.658,23
JPY200,05211,63
KRW16,6620,29
Cập nhật lúc 18:55:03 28/09/2021
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