AXS: Transaction volume spiked 1,061%, here's everything you should know as a trader
In addition to a jump in price due to a rally in daily transaction volume on Axie Infinity, new demand for AXS flooded the market following the launch of Axie Core. According to data fromWhile the metric has declined steadily since then, the surge in new demand pushed the much-required liquidity into AXS’ market, much to the delight of existing holders.Further, following Axie Core’s launch, the volume of AXS purchases across decentralized exchanges also grew.
Exchanging hands at $0.002545 at press time, its value has dropped by 11% since then, data from CoinMarketCap showed.update in February, SLP was inflationary as its supply was unlimited. This quickly drove down the token’s value and its price as gamers exited the play-to-earn game. In February, Axie Infinity slashed SLP rewards and introduced burning mechanisms to control SLP’s supply. However, the March Ronin hack and the market’s general decline further pulled the token’s price down. At the time of writing, it traded at a 99% decline from its all-time high.Subscribe to get it daily in your inbox.
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