The cryptocurrency Axie Infinity shards (or AXS) has seen a 700 percent boost in its market value since June. The price for the crypto token continues to rise, proportionate to its growing popularity--opening up the potential for broader markets.
Moreover, Small Love Potions in the Axie Infinity game also double their price.
AXS took the crypto market by surprise with its growth surge, and it shows no signs of slowing down. More investors and players still flock in the play-to-earn battle economy of this cryptocurrency.
For reference, AXS is a crypto coin earned through an online market designed to resemble a game. To participate, you need to buy three Axie avatars (like an online pet), raise them, and trade or sell them in the market. Each Axie is an NFT token traded and converted to AXS cryptocurrency.
Axie Infinity Crypto Price Sees Massive Boost
The AXS market succeeded in trading through its unique system and immediately gained popularity among investors and gamers. YouTuber On Chain Gaming said that AXS topped as "#1 NFT project by monthly volume."
His video also showed a chart of AXS active users. There was a clear surge of users and market traders in these last two months, incomparable to its numbers since January. The YouTuber also said that the "number of daily active players now is a little higher than the number of monthly users" in February.
AXS Token Breaches 700% Increase
Coindesk reported the specific numbers on the AXS growth surge.
- AXS breaks a new record high of $23.6 as of July 15, surpassing its previous peak of $22.5 on Tuesday
- The crypto coin valued at $23.86 is approximately 700 percent higher than the $2.36 value it had on June 22.
- AXS recently crossed the $25 million daily trading volume.
As mentioned in the report as well, Axie Infinity shards is a governance token of the Axie Infinity platform, an Ethereum-based digital marketplace. It is created by SkyMavis, with the platform allowing players to earn income through NFTs and cryptocurrencies by breeding, battling and trading digital pets called Axies.
AXS traders can also hold on to their axis and get weekly rewards. The Axie Infinity game is popular, especially in Brazil, India, Indonesia, Philippines and Venezuela.
Small Love Potion Doubles
For those interested in joining the market, then watch out. The Small Love Potion (SLP) also surged in price.
SLP is a token in the Axie Infinity game that players earn through quests or buying in the market. It is used to breed Axies (digital pets). Cointelegraph said that SLP was priced at $0.127 on July 1. However, thanks to the AXS sudden surge of popularity, SLP got a 102 percent boost and recently doubled in price at $19.6.
The Axie Infinity world, both market and gaming industry, continuously gain popularity and value in these last few months. The price for these tokens continues to stand high, even on USD conversion. However, analysts remain skeptical of its long-term potential. The sudden surge of players in its system might possibly improve or break the market in these coming months.