Axie Infinity dropped drastically over the bear market with the vast majority of its 2021 highs eliminate between 2022 and 2023. Usage on the Axie Infinity platform also dropped at the same time as blockchain gaming lost its appeal to users. That is until now, where it seems that...
Axie Infinity dropped drastically over the bear market with the vast majority of its 2021 highs eliminate between 2022 and 2023. Usage on the Axie Infinity platform also dropped at the same time as blockchain gaming lost its appeal to users. That is until now, where it seems that there is a resurgence in the Axie Infinity ecosystem and the AXS token pumping in response,
Axie Infinity Usage On The Rise
Last week, the usage on Axie Infinity dropped drastically bringing the unique active wallets (UAW) down to a pitiful 56,000. However, this week has seen a change in this trend where the unique active wallets on the Axie Infinity platform has jumped double-digits.
Volume saw the biggest jump during this time after rising 555.94% in one day to reach $3.89 million. This also brought the total balances of all Axle’s smart contracts to $676.53 million, representing a 7.29% increase in the same time period.
AXS Leads Daily Gains
AXS’s jump in daily trading volume on the open market came out to 421% after reaching $260 million. The rally started at $5 and has since risen to a 24-hour high of $5.98 before correcting back downward.
For now, AXS continues to demonstrate strength at $5.81, marking an over 30% increase on the weekly chart.