Axie Infinity (AXS) price soared to a new ATH of $119.92.
The price spike comes on the heels of AXS airdropping to early backers.
Another reason for the price spike was the launch of the fixed deposit.
Axie Infinity (AXS) price spiked and reached a new ATH. in addition, the price spike came after a huge short sale to early backers and also the launch of the AXS token staring.
More importantly, AXS is a blockchain-based fighting game that has been on the rise over the past year. This is because users have adopted its Play to Earn (P2E) gaming experience. According to CoinMarketCap, AXS was trading at $110.71 with 24-hour volume of $4,528,539,732 at the time of writing.
AXS Launches Stakeout Service
Axie Infinity (AXS) has announced the launch of its staking feature on September 30, 2021. What’s more, members of the AXS community have staked nearly 9.8 million AXS in two days.
Recent tweets show that other gaming companies in the ecosystem are now betting on their AXS holdings as well. This is also true due to the interests of their respective ecosystems, such as Yield Guild Games announcing that it is now betting on its AXS holdings.
In addition, Axie Infinity is offering its stakeholders a 240% APR on rewards driven by 78.3 million AXS tokens, which have been retained by the company.
AXS airdrop to subscribers
Another reason for the price spike is the AXS campaign is this week’s Community Airdrop. This rewards users who participate in the agreement before October 26, 2020.
According to the AXS team, 10,000 wallets were selected to receive a share of the 800,000 AXS airdrop thanks to the October 26 snapshot.
More active users like the pseudonymous twitter user Arctic received a larger allocation worth nearly $500,000. Less active accounts, on the other hand, received smaller allocations, but were still financially significant. This is especially true in economically disadvantaged areas, where many Axie Infinity players reside.
Finally, analysts believe that the P2E gaming model will be a breakthrough industry in 2021, which explains Axie Infinity’s recent growth.