Coinspeaker
3 hours ago
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BULLISH 📈 : AXS Token Surges 200% Amid GameFi Revival and bAXS Launch

Axie Infinity's AXS Token Surge

  • AXS token increased by nearly 9% in the last 24 hours, over 200% in the past 30 days.
  • Current trading price is around $2.53, still down 98% from its all-time high of $165.
  • Open interest for AXS futures rose to $189.52 million recently, a significant jump from less than $14 million at the start of the year.

bAXS Introduction

  • Axie Infinity announced bAXS, an app-based version of AXS, set to replace it in gameplay rewards and ecosystem activities.
  • bAXS introduces a variable sell fee benefiting long-term engagement and reducing short-term selling.
  • SLP reward emissions were halted, decreasing token inflation and supply pressure.

Technical Analysis

  • AXS formed a cup-and-handle pattern, reclaiming the 200-day EMA around $1.80.
  • Price has surpassed the $2.25 resistance level, now support, with further resistance near $3.50.
  • The Relative Strength Index (RSI) moved above 60, indicating increased demand.
  • A break above $3 would confirm continued bullish momentum, while falling below $2.25-$2.30 could lead to consolidation.