Axie Infinity token sets new all-time high of $117
Axie Infinity continues to bring new experiences to its users despite the company's 40% drop in revenue over the past month. Soon, they will have access to the AXS token staking program and a large-scale airdrop.
In September, the explosive growth of the play-to-earn game Axie Infinity, which became a hit in the Philippines, suddenly slowed down, and the project's revenue lost about 40% compared to August 2021. This was the first drop in this indicator since January this year.
Over the past month, the game about battles between virtual monsters has earned 64,933.71 ETH, equivalent to $215.57 million at the current Ethereum exchange rate on Huobi. A month earlier, in August 2021, Axie Infinity managed to “mine” a much more impressive $342 million, according to Axie World, which collects statistics for the game. The growth of indicators 3,000 times compared to the previous year looks impressive, however, in fact, it is only 10% of the pace of the last month.
According to Token Terminal, Axie's monthly revenue is second only to Ethereum at $830 million in blockchain-based applications today. In other words, virtual monsters have easily bypassed such giants of the DeFi market as Curve, Aave, and SushiSwap.
The value of the AXS token also never ceases to pleasantly surprise the holders. Like other altcoins, it often sags along with the market, but overall, the dynamics are amazing. After all, its current value is 14,000% more than last year!
A few hours ago, the token again managed to set a new high at a record $117.03 on CoinMarketCap. Prior to that, the last ATH of the asset fell on the period before the introduction of a total ban on cryptocurrency business in China.
Recall that earlier the developers announced the launch of the AXS staking program, which allows players to place existing assets and start receiving rewards for this within a day after the start of the process. This delay is deliberate to ensure that users from all regions are equal in terms of receiving awards.
As a thank you to early community members, the Axie Infinity team also made the decision to host a massive 800,000 AXS airdrop between 10,000 players, which is equivalent to $88.86 million at Huobi's current token rate.
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