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As <a href="https://u.today/bitcoin-price-hits-highest-level-in-one-year-amid-etf-hype">investors weigh in</a> on the latest approval of a leveraged Bitcoin Exchange Traded Fund (ETF) product that was approved by the United States Securities and Exchange Commission (SEC), tokens like Axie Infinity are <a href="https://coinmarketcap.com/currencies/axie-infinity/">capitalizing</a> on this broader sentiment and complemented by a rare ecosystem event which went live today.
At the time of writing, Axie Infinity is changing hands at a price of $6.04, up by 10.21% over the past 24 hours. The gaming token has now jumped by more than 21% in the trailing seven day period.
<img alt="Axie Infinity - USD Chart" data-entity-type="file" data-entity-uuid="aa0715f1-043f-4976-8893-b713177c42af" src="https://u.today/sites/default/files/inline-images/AXS_1D_graph_coinmarketcap%20%281%29.jpeg">AXS/USD 1D Chart. Source: <a href="https://coinmarketcap.com/currencies/axie-infinity/">CoinMarketCap</a>
The overnight price rally appears to be fueled on sentiments of the launch of AxieTH, a gaming competition which it tagged as one of the biggest tournaments of the year.
Axie Infinity made its debut into the digital currency ecosystem as the first true representation of a working play-2-earn (P2E) blockchain gaming protocol in the Web3.0 space. AxieTH has a line up of gamers and events and generally, it has helped spark the interest in the entire Axie Infinity brand with a positive undertone for the AXS token.
<a href="https://u.today/axie-infinity-plunged-to-16-month-lows-active-players-drained-massively">card</a>
AXS remains one of the tokens that is yet to heal from the brunts of the crypto winter. The token is still down by as much as 96% from its all-time high (ATH) attained about two years ago.
<h2 id="reviving-axie-infinity-brand-for-good">Reviving Axie Infinity brand for good</h2>
With so many distractions to innovation in the form of law enforcements or crackdowns from market regulators, most protocols need something drastic to reawaken the enthusiasm in their community in a bid to maintain relevance.
Axie Infinity has been doing all it can to <a href="https://u.today/axie-infinity-axs-up-15-this-tech-giant-might-be-responsible">rebuild</a> since it reopened the Ronin Bridge, which was hacked and <a href="https://u.today/axie-infinity-plunged-to-16-month-lows-active-players-drained-massively">drained</a> of funds last year. While the gaming protocol has picked up itself, a well publicized event such as AxieTH is important to remind everyone of the positive place the P2E game occupies in the blockchain world.

Axie Infinity (AXS) Up 10% as Rare Ecosystem Event Starts

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