Advertisement
AD

Main navigation

Axie Infinity Suddenly up 25%, What's Happening?

Advertisement
Mon, 5/12/2022 - 9:52
Axie Infinity Suddenly up 25%, What's Happening?
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

AXS, the native token of Axie Infinity, a blockchain-based game in which players purchase fantasy creatures called Axies and then pit them against each other in battles, suddenly gained 25% in about an hour.

Advertisement

At the time of publication, AXS was up 26.32% at $8.51. The crypto token was likewise demonstrating gains of 27.65% over the past seven days.

The price jump also coincides with an increase in trading volumes, with traders taking advantage of the recent volatility to capture profits.

AXS has also moved up in the crypto market rankings and is now the 50th largest cryptocurrency with a market capitalization of $813 million. The Axie Infinity community is delighted after a recent positive announcement by the blockchain-based game.

Related

As shared by "Artic," an Axie Infinity missionary, "Today, a group of over 600 dedicated and impactful community members have been gathered together to help shape the future of Axie Infinity."

Axie Infinity decentralization in progress

Earlier this year, the Axie Infinity team revealed how it intended to progressively decentralize Axie Infinity.

The team stated its plans to actively work toward an end-state in which "invested" community members — that is, those with effort or meaningful contributions — would be responsible for making resourcing decisions around the Axie Infinity ecosystem.

Axie Infinity explains its steady progress with its plans in a blog post. In May, the Axie Infinity "Town Builders," a collective of well-established community members, was established. In October, Syntax and Akhil were elected as Town Builders by the founding Town Builder team.

Today, it announced that it has chosen 700 community members to join the inaugural pilot "season" of the Axie Contributors, who would partake in a newly created "Governance" section on Axie Infinity's Discord.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD