Axie Infinity Jumps 9.5%, Play-to-Earn Sector Sees Resurgence

Axie Infinity's token price surged 9.5% in the past 24 hours, placing it eighth on CoinGecko's trending list with $136.4 million in trading volume and a market cap of $261 million.

The token traded near $1.54 during the early-morning window and gained 12.9% against Bitcoin (BTC) and 14.7% against Ethereum. However, some analysts view the high short-term speculative activity indicated by the volume-to-market-cap ratio above 0.5 with caution.

Axie Infinity's growth can be attributed to the recent resurgence of play-to-earn talk in the crypto space. The game has maintained a smaller but more committed player base through 2023 and 2024, despite the broader sector losing momentum after 2022.