CRYPTO

Huge airdrop and AXS catapult AX Infinity to a new all-time high


Airdrops have become the equivalent of cryptocurrency ecosystem stimulus checks over the past few years, and further evidence of this can be seen in popular protocols such as Uniswap and Dividex that reward their early recipients with token drops that are now worth $ 30,000 to $ 2 million.

The latest protocol to amaze its userbase with Wallet Fatty AirDrop was AXS Infinity (AXS), a blockchain-based combat game that will dominate by 2021 as users adopt its play-to-earn (P2E) gaming model.

Data from Cointelegraph Markets Pro and Trading View shows that since hitting the low of 47 47.92 on September 21, the AXS has risen 145% to a new record high of 11 118.00 as its 24-hour trading volume has increased from $ 421 million to $ 1.95 billion. .

AXS / USDT 4 hour chart. Source: Tradingview

Three reasons for the recent geysy rise in AXS prices over the past two weeks include the introduction of stacking features for AXS tokens, the release of early adopters of Community Airdrop, and the growing popularity of play-to-earn gaming protocols.

Introduces AXS stacking

The growth of decentralized money in 2021 has highlighted the ability of crypto holders to utilize their tokens and earn an income through liquidity or stacking.

In an effort to capture some of this momentum as well as improve the overall tokenics of the AXS token, Ax Infinity’s team announced the launch of the stacking capability on September 30th. Members of this community and to date, Holder Excitement has already collected about 9.8 million AXS in just two days

AXS Stacking Dashboard. Source: Axis Infinity

And it’s not just your average crypto user taking part in the stacking action, as recent tweets show other gaming platforms in the crypto ecosystem, including Yield Guild Games, announcing that they’re now accumulating their AXS holdings as a way to help raise their own ecosystem. .

Axis Infinity is currently offering a 240% APR for the Stackers, including prizes from a dedicated pool of% .. 3 million AXS tokens that set the team apart.

AXS Airdrops tokens to early recipients

The second reason for the increase in AXS price and activity was this week’s Community Airdrop, which rewards users who engage in protocol before October 2, 2020.

According to the team, 10,000 wallets were selected based on a snapshot taken on October 26 to participate in the 800,000 AXS airdrop, depending on the level of activity of the wallet.

More active users like the pseudonymous Twitter user ‘Arctic’ have received large allocations now worth about $ 500,000, while less active accounts have received smaller allocations that are still significant in dollar terms, especially in economically backward parts of the world where many Axis Infinity players live.

Related: NFT has launched the trading game Axie Infinity AXS staking program

The growing popularity of play-to-earn gaming

Another reason for the recent growth in X-Infinity is the power of the P2E gaming model which many analysts say will be the breakout sector in 2021.

Axis Infinity is actually a game that started the P2E rally earlier this year and this momentum was transformed into an improvement over other P2E protocols such as Illuvium (ILV), Chain Guardians (CGG) and MyNeighbourAlice (ALICE).

Top 5 gaming protocols with 90 day change in USD price. Source: Mesari

The crypto ecosystem’s P2E gaming sector has been gaining momentum in recent months as users begin to discover the benefits of playing a game that rewards participation, as opposed to the influential free-to-play model that offers in-game purchases but leaves users months after gameplay and investment. Little to show.

According to data from Cointelegraph Markets Pro, market conditions were favorable for AXS for some time.

VORTECS ™ Score (green) vs. AXS value. Source: Cointelegraph Markets Pro

As shown in the chart above, the VORTECS ore score for AXS rose to the green zone on September 2 and reached a high of 87 about 5 hours before the price began to rise 55% over the next three days.

Cointelegraph Markets Pro’s NewsQuick 6 service has announced two significant news releases ahead of the price hike, including a listing of the Bitstamp Exchange and the announcement of the team launching AXS Stacking.

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