Axie Infinity is a popular Play to Earn (P2E) game that has experienced a significant surge in demand in the past 30 days. User activity and token accumulation have also seen a substantial increase. Analyzing DappRadar’s on-chain data, we have discovered a story that highlights the recent developments in Axie Infinity and the positive trends observed in AXS token metrics.
According to DappRadar’s data, Axie Infinity has seen a notable 30% increase in the number of active wallets interacting with the decentralized application (dApp) last month. As of the latest count, the number of unique active wallets that have completed at least one transaction has reached 73,260. This increase in user activity is in line with the growing popularity of P2E blockchain games.
The increase in activity within Axie Infinity can be attributed to various ecosystem developments, including a collaboration between Axie Infinity’s developer, Sky Mavis, and Korean game company Act Games. This collaboration aims to integrate Japanese Web2 games into the Ronin Blockchain and attract new users interested in exploring the Axie Infinity experience.
According to CoinMarketCap data, despite facing a narrow price range in November, AXS has shown resilience with a 33% increase in price. It is currently trading at $6.21. It is important to note that this altcoin’s peak level was $165. Particularly, spot market participants continued to accumulate AXS according to the basic momentum indicators on the daily chart.
The Relative Strength Index (RSI) was at 56.45, while the Money Flow Index (MFI) stood at 63.48. Additionally, the Chaikin Money Flow (CMF) metric indicated a positive value of 0.04, signifying a continuous flow of liquidity into the altcoin’s spot market.
Although AXS experienced a slight decrease in CMF due to increased profit-taking, its position above the zero line in the positive territory highlights the continued dominance of bulls in the market. As Axie Infinity rides the wave of increasing demand and positive token metrics, stakeholders in the crypto space are closely monitoring the game’s journey.
