Axie Infinity token jumps 115% amid airdrop

In the last four days, the native token of the Axie Infinity blockchain game (AXS) rose 115%, and on October 4 it hit a new all-time high at $155. The project’s market capitalization surpassed $9 billion, according to CoinGecko.

30 September AXS traded around $72 and began rising after the project distributed tokens worth more than $60 million.

We just distributed 800,000 $AXS (over $60M at the current rate) to our early adopters.

We appreciate your continued commitment to Axie Infinity.

— Axie Infinity🦇🔊 (@AxieInfinity) September 30, 2021

Axie Infinity also launched staking — users have already staked 12.4 million AXS (about $1.86 billion at the rate at the time of writing).

Earlier, as part of the Scoop podcast, the Axie Infinity developers announced the launch of their own decentralized exchange (DEX). The move will facilitate trading within the project’s ecosystem.

«People want to buy and use tokens in one place without having to constantly use a bridge,» said Axie Infinity co-founder Jeff Zirlin in a comment to The Block.

DEX will be built on the Ethereum-linked sidechain Ronin, created specifically for the blockchain game.

In September, Zirlin named the GameFi segment the key to broad adoption and acceptance of cryptocurrency.

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