The movement of the blockchain game token Axie Infinity (AXS) saw an encouraging performance as the crypto market finally saw positive momentum after facing severe 'bleeding' following the FTX crisis.
Through observation, AXS has climbed as much as 28% in the past 7 days testing the $10 price level, but so far the price has shrunk to the $8.36 zone.
The reaction occurred when investors flocked to take the opportunity to buy various digital assets while their movements were volatile and caused decentralized financial tokens (DeFi) to also have a positive impact.
The price and trading volume of the digital asset was also reported to jump after they intend to launch the 'Axie Contributor Initiative' which aims to develop its progressive decentralized strategy with the AXS community.
In fact, the announcement of the following initiative is able to encourage its ecosystem including the AXS token to further develop globally in the coming year.
Although the price of AXS has been under selling pressure in recent months, the digital asset is expected to break through the $10 zone if it can break through the $9.72 level.
This is due to the fact that AXS has had a difficult year due to unsatisfactory macroeconomic factors with the metaverse issue facing a 94% decline since November last year.
As of this writing, AXS has gained 74% in the past 24 hours with a market cap of around $873 million while its total supply is at 270 million AXS tokens.
