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- Axie is a gaming protocol which is partially owned and operated by its players.
- AXS’s trade volume stands at $3.3 billion which is way higher than tokens like Binance Coin (BNB), Litecoin (LTC), Dogecoin (DOGE), EOS, Tron (TRX), Stellar(XLM), and even Cardano (ADA).
- AXS’s market value to real value ratio experienced an increase brought by AXS’s bullish trends.
Over the past few months we have seen unknown crypto tokens outperforming the more significant tokens in the market. After Dogecoin, many meme and canine related cryptocurrencies rose. Some of them even experienced double digit growths like Baby Doge and so on. However, Axie Infinity’s native token – AXS has its value doubled in just three days. Axie is a gaming protocol which is partially owned and operated by its players. Axie players can simply gain AXS tokens by playing and use them to decide the future of the game. Axie Infinity has previously partnered with Aave, Binance, Ubisoft, Maker, Samsung and so on. It boasts of 90,000+ ETH traded on their in-house marketplace.
AXS Enters List of Best-performing Digital Assets on a Year-to-date Timeframe With 2021
Currently, Axie has more than 250,000 daily active players. On July 23, the Axie token surged to a record high of $32.69 and was up by 31.28% in the last 24 hours. From its record low of $14 on July 20 it was up by 131%. Consequently the AXS token was placed on the list of best-performing digital assets on a year-to-date timeframe with 2021 gains of around 5,000%. Just before AXS’s surge, there were talks about the protocol revolutionizing the gaming industry enabled by blockchain. In a tweet, Axie announced where they have been, the progress made by them, and where they are headed.
AXS Isn’t the First Token to Surpass the Trade Volumes of Other Major Altcoins
Axie in the tweet also added that they have the potential to not only change gaming forever, but transform how society works. Currently, the token is trading at an even higher value of $39.85 and is down by 17.2%. In addition, AXS topped the charts for 24-hour trade volumes ahead of most significant altcoins. Currently AXS’s trade volume stands at $3.3 billion which is way higher than tokens like Binance Coin (BNB), Litecoin (LTC), Dogecoin (DOGE), EOS, Tron(TRX), Stellar(XLM), and even Cardano (ADA).
However, AXS isn’t the first token to surpass the trade volumes of other major altcoins. AXS’s market value to real value ratio experienced an increase brought by AXS’s bullish trends. The altcoin’s performance can be derived from the current metrics, on-chain analysis, and social sentiment. Google trends also showed a major uptick as it marked 100 hinting the rising interest of the cryptocurrency. Moreover the token’s social dominance corresponding to the price performance climbed to a yearly all-time high.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
