Axie Infinity’s AXS Topping Metaverse & NFT Tokens, Up 28% Today
Axie Infinity's AXS governance token has risen 28% in the last 24 hours, making it the highest gainer among the top 100 cryptocurrencies.
As of this writing, AXS is the 46th-largest cryptocurrency, with a market valuation of nearly $935 million, per CoinGecko data. It is also worth noting that AXS has lost roughly 95% of its value since reaching an all-time high of $164.90 in November 2021.
According to the NFT data platform CryptoSlam, trade volume for Axie Infinity has ranged between $18,000 and $48,000 in recent weeks.
Also, due to today's strong price action, nearly $2.3M was liquidated in the last 24 hours, according to Coinglass.
The key driver of the bullish price action in the metaverse and NFT-related tokens over the last 24 hours is related to the rising NFT sales volume.
According to CryptoSlam statistics, overall NFT sales volume increased 20.75% in the previous 24 hours to just over $16.5 million. NFTs based on Ethereum recorded a 30% increase in daily trading volume.