In a major milestone for the crypto industry, Axie Infinity has secured approval from Apple to list its popular play-to-earn game on the AppStore. Starting on 17 May, 2023, users can enjoy Axie Infinity’s Origins card game on Apple devices.
Chart by TradingView
What is AXS? Axie Infinity is a player-owned blockchain game inspired by Pokémon and Tamagotchi. Players collect, breed, raise, battle, and trade virtual creatures called Axies. With over 500 creature customizations available in various types and rarity scales, Axies are unique and valuable non-fungible tokens (NFTs). Through battles, Axies gain experience points to level up and evolve. Breeding Axies creates new offspring that can be used or sold on the game's marketplace. The ecosystem also includes a governance token called Axie Infinity Shards (AXS), which allows holders to participate in governance votes and influence the use of funds from the Axie Community Treasury.
AXS experiences strong gains
As a result of this development, Axie Infinity’s native token, AXS, witnessed an impressive surge of over 20% within one hour. AXS reached a peak of $8.50, marking its highest value in the past 27 days.
Investors have responded to the surge with renewed optimism, and the bullish sentiment has helped maintain AXS's price above $7.00.
The positive announcement has also sparked enthusiastic buying activity, resulting in a significant increase in trading volume. On 2023-05-17 AXS saw its highest trading volume in 3 months. This trading volume indicates strong investor interest, and brought the AXS price closer to the 50-day Simple Moving Average (SMA).
Furthermore, there has been a remarkable surge of approximately 89% in open interest (OI) recently, reaching a value of $61 million. This influx of funds suggests potential long-term sustainability for AXS's higher price levels.
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