Investing.com – After several days of consolidation in a narrow range, the cryptocurrency exploded higher yesterday, from $7 at the start of the day, to a peak at $9.80 at midday, a gain of +40 % in about 12 hours.
At the time of writing, has corrected to $8.3, but is still up almost 20% over 24 hours, and over 27% over a week.
Without this fully explaining yesterday’s rise, it should be noted that the upward acceleration of the AXS occurred shortly after the publication of an official article by the team behind the cryptocurrency. This article describes a plan for the gradual decentralization of the AXS network.
“The ultimate goal is to empower the collective to guide each other in advancing the community’s mission through self-organization,” reads the article.
Last night, another article was published, this time to introduce “Axie Core”, a major update to the Axie Infinity metaverse game, which should keep players interested, as Axis Infinity is already one of the leaders in its field.
However, this article does not seem to have supported the course of the AXS.
What is Axie Infinity and AXS Crypto?
Finally, note that Axie Infinity is an online game universe that revolves around Pokémon-like creatures known as Axies. Players can collect Axies as virtual pets and aspire to fight, breed, collect, breed, and build kingdoms for their Axies. The game based on uses a design that allows players to own their virtual assets and rewards players who are able to reach an advanced skill level.
Axie Infinity Shards (AXS) is the ERC-20 governance token for the Axie universe. It can be considered the game’s native currency, and its holders are eligible for rewards if they stake their tokens, play the game, and participate in key governance votes.