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Axie Infinity posts strong gains as crypto gaming interest gathers momentum

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The Santiment report stated that the general downturn in the cryptocurrency market in 2022 caused a significant drop in user participation in the play-for-profit (P2E) platform. However, there has recently been a rise in interest in crypto gaming, particularly in early 2023.

Since the beginning of the year, DappRadar reports that the most popular peer-to-peer (P2P) gaming platform, Axie Infinity, has recorded a 59% increase in unique active wallets (UAWs). A similar result from Santiment revealed that total sales increased by 214%. Meanwhile, daily transactions increased by more than 100% in the first half of this year.

AXS is clustering due to increased on-chain activity

Accordingly, the demand for the original icons, Smooth Love Potion [SLP] and Axie Infinity Shards [AXS]Along with the increase in the number of active daily active wallets that are actively running, SLP and AXS have gone up. Specifically, AXS surged to a new Q1 2023 high last week, a welcome relief after the turmoil of 2022.

AXS is currently trading at $9.38 as of writing, up 13.94% in the past 24 hours, according to CoinMarketCap. Its market capitalization rose to $948,558,367, an increase of 13.96% over the previous trading day. AXS average daily trading volume is $134,862,264, with 101,105,780 AXS in circulating supply.

The AXS situation as of this writing may need to be improved, despite the recent Axie Infinity integration of the Google Cloud checker. This validator will begin confirming transactions in the Ronin network.

Regardless of recent performance, Axie Infinity’s on-series status may require renewal in several areas before it can build on current progress.

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