Crypto
Axie Infinity Surges 9.5% Amid Play-to-Earn Resurgence
Axie Infinity (AXS) experienced a surge of 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 price move saw AXS trade near $1.54 during the early-morning window, gaining 12.9% against Bitcoin (BTC) and 14.7% against Ethereum. The token's market cap rank is currently at 157, down from peak rankings above 20 during the 2021 play-to-earn boom.
The recent price move does not appear to be tied to a specific product announcement from Sky Mavis, the studio behind Axie Infinity. However, the community has been watching for updates on the game's development, particularly regarding land gameplay, which has been in development for several years.