Axie Infinity Continues to Reach ATHs, Why The Rally Could Be Just Getting Started

Axie Infinity Continues to Reach ATHs, Why The Rally Could Be Just Getting Started


While the crypto market has been bleeding out, Axie Infinity (AXS) records a 112% rally over the past week and a 14.7% profit in the daily chart. Bears are in disbelief, as this Non-Fungible Token (NFT) based platform continue to gain popularity, users, and moving to the upside.

AXS with small profits in the daily chart. Source: AXSUSDT Tradingview

As NewsBTC previously reported, Axie Infinity was inspired by Pokemon and allows its users to capture, breed, train, and battle with pet creatures called Axies to receive rewards. These creatures are tokenized on the platform in the form of NFTs and can traded with other players on a marketplace.

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One of Axie Infinity’s most important features is that it allows players to turn their in-game assets into Ethereum (ETH). Thus, they can be taken out of the platform and turn into real word assets. This could give a new boost to what some are referring to as the “Gig Economy”.

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