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%.
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.
We just distributed 800,000 $AXS (over $60M at the current rate) to our early adopters.— Axie Infinity🦇🔊 (@AxieInfinity) September 30, 2021
We appreciate your continued commitment to Axie Infinity.
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.
Play-to-earn (P2E) games continue to be a trend in crypto.