This year, SLP, the game’s rewards token, has multiplied its value by 20.
The AXS governance token is up more than 110% in seven days.
As Axie Infinity continues to gain traction among the major NFT markets, its cryptocurrencies are skyrocketing. This Tuesday, July 13, the game’s internal token and the governance token in parallel broke their respective historical highs (ATH) of price.
During the trading session this Tuesday, the platform’s rewards token, small love potion (SLP) broke its previous ATH, set at the end of April at $ 0.36 per unit. Now, the coin came to equal almost 0.4 dollars, according to data from CoinMarketCap.
So far this year, SLP has multiplied its market value by 20. At the beginning of this 2021, the token was trading below $ 0.02, according to the record of the same source.
SLP has approached $ 0.4 in price this Tuesday, July 13. Source: CoinMarketCap.
For its part, the protocol’s governance token, AXS, surpassed $ 22.4 for the first time in its short history, after being launched in November last year.
The upward movement of AXS is more pronounced than that of SLP, since a few months ago the cryptocurrency barely exceeded $ 10 per unit. So far this July, AXS has quadrupled its market value. At the beginning of this month, it was barely over $ 5.
At the beginning of July, AXS was barely over $ 5. Source: CoinMarketCap.
In a mostly red market in the last 7 days, AXS has appreciated more than 110% in that period. Right now, it ranks 62nd among the cryptocurrencies with the highest market capitalization, surpassing $ 1.3 billion.
Axie Infinity at the head of the NFT
The appreciation of the coins associated with Axie Infinity is no accident. This video game based on the Ethereum blockchain has gained a lot of notoriety in recent months. In particular, thanks to its mechanism of earnings based on breeding, development, and battles with your digital creatures, or their NFTs known as Axies.
In the game, the user can improve the characteristics of their Axies and earn SLP by fulfilling certain tasks. This ecosystem has become an alternative of economic income for entire families, as CriptoNoticias reported on a case in the Philippines.
The growth of this platform has exploded in recent weeks, outperforming even other NFT trading platforms in trading volumes. As this newspaper reported, in a period of 30 days, Axie Infinity passed 200 million dollars, a figure well above other platforms.
Updated data from DappRadar place the commercial volume of this I gamble over 340 million dollars in a month, almost doubling the volume of the second top market, OpenSea.