Axie Infinity price shoots up 40% today: today’s top gainer

• Axie Infinity (AXS) has hit a excessive of $13.83 as we speak.
• AXS is as we speak’s prime gainer adopted by STEPN coin.
• Here’s a deep dive into what’s inflicting as we speak’s value surge.

After a peaceful weekend with most cryptocurrencies consolidating their earlier positive factors, Axie Infinity has began the week with a bang after climbing to a four-month excessive of $13.83.

AXS has traded beneath $12 since mid-September and dropped to as little as $6 in direction of the top of 2022. The token has nonetheless turned the tables and staged a gradual restoration because the begin of 2023 with as we speak being one of many biggest days for the token in current historical past.

At press time, the token was buying and selling at $12.86 after a slight pullback from a excessive of $13.83.

However what’s pushing the value of AXS up and the way far will it go? Listed below are the forces behind as we speak’s AXS rally.

What’s pushing Axie Infinity value up?

Though the crypto winter introduced the value of the Axie Infinity token down from its all-time excessive (ATH) of $165.37 to buying and selling beneath $10, the elevated gaming exercise on the Axie Infinity blockchain is basically behind the continuing bullish value motion.

Axie Infinity is branded as a blockchain-based battling recreation owned and operated by gamers around the globe. Impressed by such video games as Tamagotchi and Pokémon, and the power of gamers to gather, breed, increase, battle, and commerce token-based creatures the Axie Infinity ecosystem has seen elevated progress because the begin of 2023.

Axie Infinity at present ranks as essentially the most profitable play-to-earn (P2E) recreation throughout the blockchain trade and the booming sentiment amongst gaming tokens has additionally boosted AXS efficiency with many buyers now anxious to see what the longer term holds for the token.