Over the past 24 hours, AXS has experienced a remarkable surge, with its value skyrocketing by more than 10%. This sudden upswing has taken the crypto community by surprise, leaving many wondering about the driving forces behind such a significant price increase.
What's even more astonishing is the whopping 512.23% surge in trading volume during the same 24-hour period. A $128,958,335 worth of AXS changed hands, indicating heightened investor interest and activity. The market capitalization of Axie Infinity has also enjoyed a substantial boost, growing by 10.02%. At the time of writing, the market cap stands at $659,598,998.
A significant daily green candlestick emerged, characterized by a long upside wick. Within just one hour, AXS made a remarkable leap from $4.22 to $5.15, marking an impressive gain of nearly 22%. While the initial surge was swift, AXS continues to maintain its upward trajectory, currently exceeding a 10% increase as of the time of writing.
The exact reasons behind this remarkable surge remain somewhat elusive, with no major announcements or upgrades on Axie Infinity's official X account. For now, it appears that the surge can be attributed, at least in part, to technical factors.
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