The Ongoing Success of Axie Infinity Highlights the Expanding Influence of Web3 Gaming

Axie Infinity This well-known digital pet ecosystem has noted a robust increase in player engagement, with the trade of Axies also reaching new heights this month.

According to an official tweet From the statistics, the game attracted around 130,000 players across Origins and Classic versions, with an astonishing 134,000 Axies traded, involving more than 20,000 distinct wallets participating in these trades.

Despite a volatile cryptocurrency market, Axie Infinity's native token, AXS, has managed to outperform rivals. After nosediving to an 11-month low of $4.05 on October 19, the token made a remarkable comeback, recording gains on nine out of ten days since October 20, with the most impressive surge occurring on October 28.

By October 30, AXS had jumped to a two-month high of $6, establishing itself as the standout asset in the cryptocurrency market over the previous day, outpacing others like Gala (GALA) and Internet Computer (ICP).

Some data. Just facts.

This month:

• 100 K Origins players 30 K Classic players
• 134,000 axies sold
• 20,000 addresses bought/sold axies
• 10 $SLP burned per every SLP earned

Remember, Axie is the next ____ pic.twitter.com/o3vcRyYSwd

— Axie Infinity (@AxieInfinity) October 30, 2023

Axie Infinity’s Bullish Metrics

While major players like Bitcoin have seen a downturn, AXS has remarkably stayed strong, consistently exceeding the critical $5 threshold. This exceptional performance has caught the attention of the crypto community, with many experts attributing this success to a mix of favorable factors.

Recent data from Santiment The uptick in Axie Infinity activity is evident, especially with a rise in significant 'whale' transactions since October 27, where over nine transactions, each worth more than $100,000, took place just on October 30.

Concurrently, there’s been a spike in development activity within the game, boosting investor confidence further. This surge in activity hasn't gone unnoticed on platforms like social media, resulting in increased discussions about Axie Infinity. Recent data from Santiment indicates that social engagement around the platform has hit its peak for the month.

Currently, AXS stands at $5.85, reflecting an almost 16% rise over the past 24 hours. For Axie Infinity to maintain its upward momentum, it's crucial for AXS to close above the $6 mark consistently. Any dip beneath that threshold could trigger a test of the $4.95 support level.