Axie Infinity pulls altcoin prices higher

Prices of most crypto gaming tokens have seen a huge surge over the past few days. Among the most famous top performers included Axie Infinity (AXS), Sandbox (SAND), Illuvium (ILV), Guild of Guardians (GOG) and the Solana game’s two tokens, Star Atlas, POLIS and ATLAS. All of the gaming tokens mentioned have seen their prices rise over the past seven days in the double-digit percentage range. In terms of market cap, however, Axie Infinity was able to by far the most.

Axie Infinity (AXS) Market Cap over the Last 7 Days. Source: Coinmarketcap

Since November 29th alone, the AXS market capitalization has increased from around USD 650 million to currently over USD 870 million – an increase of 33.85 percent.

Why is Axie Infinity price rising?

The sudden increase could be partly due to a meeting of over 600 Axie community members. They came together to discuss the future of the game together.

In addition, data from the NFT analysis platform shows CryptoSlamthat trading Axies hit a local high of $48,000 for the past few weeks. This in turn means that currently traders and players seem to be coming back into the game’s ecosystem, which is positive for Axie Infinity’s price.

Despite the recent recovery, the crypto scene’s biggest game is looking ahead has had a disastrous year and is still trading nearly 95 percent below its all-time high of $164.90. It therefore seems questionable how sustainable the current price rally really is.

These are the top performers among crypto gaming tokens

While AXS has the highest growth in the crypto gaming sector in terms of the amount of funds that have flowed into AXS, not when it comes to the sheer increase in price.

Looking only at the growth of the courses of the different tokens, then the two tokens of the Solana game Star Atlas, POLIS and ATLAS, the top performers of the last seven days in the crypto gaming market. POLIS, the governance token in Star Atlas, transitioned 72.6 percentwhile ATLAS, the game’s utility token, to 34.6 percent increased. During the same period, the price of AXS rose by 33.85 percent.

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