Axie Infinity Token Climbs 56% in a Week Joining the Top 50

August 18, 2021, 10:45 AM AEST - 1 month ago

NFT gaming appears set to continue its red-hot run. One of the frontrunners in the space, Axie Infinity, has seen its token, axie infinity (AXS), skyrocket over 50 percent in the last week.

Axie Infinity universe. Source: TechinAsia

Earlier this year, the price of the AXS tokens, also known as “shards”, reached a new all-time-high (ATH) of US$75.73. With the latest moves, however, and despite being 10 percent down from its ATH, AXS is currently the 34th largest crypto project by market capitalisation at just under US$4.15 billion.

Over the past three months, AXS has enjoyed a truly stellar performance, gaining 934.35 percent against the US dollar and 840.61 percent against bitcoin. Interestingly, these sharp recent moves have coincided with massive increases in Google search volumes, as well as Axie Infinity website traffic, both of which have also increased by 300+ percent over the same period.

Axie Infinity on the Lookout for Scams

With crypto fever in the air, the space is ripe for opportunists and bad actors to take advantage of inexperienced investors. Whether you are talking about the largest heist in DeFi history or the endless news of rug-pulls, it is perhaps not surprising to hear that a host of “Axie Infinity” scams have arisen. This has led the Axie Infinity team to caution investors and provide some much-needed guidance on asset security.

In addition, to help new users onboard, they have provided extra step-by-step information on how to get properly set up within the Axie Infinity ecosystem. This will hopefully assist users in avoiding issues such as downloading a fake Ronin wallet that drains users’ funds.

NFT Gaming – Want to Learn More?

Despite NFT gaming being in its infancy, there are clear signs it is catapulting towards mainstream adoption. To avoid making rookie mistakes, it’s worth doing your homework on how you can participate without getting your fingers burned.

To get started, Crypto News Australia partner Zipmex has provided a useful overview of what Axie Infinity is and how it works.

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.