Axie Infinity (AXS) is the biggest gainer among the largest 100 crypto assets, surging by 16% in the past 24 hours amid increased whale transactions and development activity. The asset’s recent uptrend began on Oct. 20 following a collapse to…
Notably, the upswing gained momentum on Oct. 28 amid the sustained bullish sentiments surrounding the broader crypto market.
Axie Infinity records bullish metrics
The network witnessed over nine whale transactions worth above $100,000 on Oct. 30. This comes after it recorded over 18 whale transactions yesterday. These spikes in large transactions have become prevalent since Oct. 27 as the asset’s price remains in bullish territories.
Meanwhile, development activity has seen a remarkable increase since Oct. 25. It has maintained a level not witnessed throughout this month, bolstering investor confidence.
The combination of these bullish metrics and the asset’s price surge has led to increased discussions surrounding the asset on social platforms, contributing to a rise in its social volume. Santiment’s data confirmed that Axie Infinity’s social volume hit its highest monthly value yesterday.
The asset changes hands at $5.85 at the time of reporting, up 15.98% over the past 24 hours. Axie Infinity needs to record a comfortable close above $6 to sustain its bullish run. Failure to hold steady could bring the asset back to the $.4.95 support level.