Axie Infinity (AXS) Hit a New High After Announced Staking

by in Cryptocurrency News

Axie Infinity AXS new high

AXS, the native token of the crypto gaming platform Axie Infinity reached a new all-time high of $119.92. In the last 7 days, the token went up by around 75.45%, and in the last 24 hours, the price growth was over 50%.

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There are several reasons for the surge. On September 30, the Axie team launched a staking option. Currently, over 10 million AXS tokens are staked, the worth of which is $1.18 billion. Staking APR (Annual Percentage Rate) is 240%.

On the day of announcing staking, Axie also rewarded early users with tokens. The team distributed 800.000 AXS (valued at over $60 M) as an appreciation of community commitment. People who played Axie Infinity before October 26, 2020, received tokens into their wallets.

According to the Q3 wrap-up from Dapp Radar, the number of Axie Infinity active users surpassed 1.5 billion. During this quarter the platform's revenues were over $776 million.

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