Axie Infinity’s weekly trading volume fell below the $1 million mark for the first time since February 2021.
The chart below shows that the P2E-platform’s metric for the last week of May stood at $988,380.
In August 2021, when Axie Infinity was at the height of its popularity, turnover reached $214 million.
Activity then waned. The decline was accelerated by the Ronin sidechain hack in March 2022, during which a hacker withdrew crypto assets worth $625 million.
However, in April Sky Mavis closed a $150 million funding round led by Binance. The round also included investments from Animoca Brands, a16z, Dialectic, Paradigm and Accel.
The native token of the Axie Infinity platform (AXS) has fallen by 87.9% from its all-time high, while Smooth Love Potion (SLP) has fallen by 98.7%.
In April, Sky Mavis said it expects to reimburse part of the stolen funds within two years.
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