- Axie Infinity (AXS) has reached a high of $13.83 today.
- AXS is today’s top winner, followed by the STEPN coin.
- Here’s a deep dive into what’s driving today’s price hike.
After a quiet weekend in which most cryptocurrencies consolidated their previous gains, Axie Infinity has started the week with a bang after climbing to a four-month high of $13.83.
AXS has been trading below $12 since mid-September and dropped to $6 by the end of 2022. However, the token has turned the tables and has been on a steady recovery since the start of 2023, with today one of the best days for the token in the recent history.
At the time of writing, the token was trading at $12.86 after falling slightly from a high of $13.83.
But what is pushing the price of AXS up and how far will it go? These are the forces behind today’s AXS rally.
What pushes the Axie Infinity price up?
While the crypto winter has sent the price of the Axie Infinity token falling from its all-time high (ATH) of $165.37 to trading below $10, increased gaming activity on the Axie Infinity blockchain is largely behind the continued rising price action .
Axie Infinity is branded as a blockchain-based fighting game owned and operated by players around the world. Inspired by games like Tamagotchi and Pokémon, and players’ ability to collect, breed, raise, battle, and trade token-based creatures, the Axie Infinity ecosystem has experienced increasing growth since the beginning of 2023.
Axie Infinity currently ranks as the most successful play-to-earn (P2E) game within the blockchain industry, and the booming sentiment among gaming tokens has also boosted AXS performance, with many investors now eager to see what’s next for it. token has in store.