Axie Infinity Continues to Soar, Up 86% in a Month

October 21, 2021, 10:00 AM AEST - 1 month ago

Axie Infinity has been leading the P2E (Play-to-Earn) movement by becoming the highest-revenue generating game in the market, with over 1.8 million daily active users worldwide. Data from Binance shows ASX, its native token, has surged over 80 percent in just one month, highlighting the interest from investors and gamers alike for blockchain-based games.

ASX Has Mooned 150,000% Since its Launch

ASX had an 86 percent price boost last month, trading at US$121.36 at the time of writing.

Daily chart of ASX/BTC

Additionally, analytics firm CoinGecko reported that ASX was the second-best performing asset of the market in Q3 2021, with a three-month best ROI (return of investment) of 965 percent, and YTD (Year to Date) gains of approximately 15,000 percent.

Two weeks ago, ASX surged above 100 percent following a massive airdrop of US$60 million to early users and a staking rewards feature, where token holders generated returns of up to 385 percent APY.

Controversial Updates

While Axie has been thriving in the DeFi and NFT markets, some recent updates have staggered its price surge. Recently, the team behind the game revealed the 1.1.0a update, which embedded three fundamental technical changes: to the Ronin Block Explorer, bug fixing and game dynamics, and game tokenomics.

The last one caused the prices of ASX and SLP to drop nearly 10 percent in a matter of hours. Normally, players sell their Axie characters with their respective levels and characteristics, but this update now automatically resets the monster’s level to 1. This has outraged the community. But what’s more is that players with less than 800 MMR are prohibited from receiving rewards for playing the adventure modes or daily quests.

Despite the setbacks, Axie continues to be the frontrunner of P2E video games when it comes to revenues. The ASX token is now one of the top 50 tokens in the crypto market, following a 50 percent price boost in just a week.

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.