LunarBrush, an intelligence organization in the society of digital currency, NFT and stock, reported on its Twitter account that, according to the online game platform Axie Infinity of NFT, there is a good trend of a bull market. During the bear market, the price of coins has suddenly risen.
LunarBrush said on Twitter that with "AXS rebounding from the bear market", this platform game has been very active in the society today. Twitter added that Axie Infinity Shards (AXS) ranked among the top 3953 coins in the cryptocurrency market, with a "very distinctive ranking" of 1:
Since November 2021, all encrypted spaces have been seriously damaged by the long data encryption winter. Like other coins, Axie Infinity has been hit by the bear market in the past few months.
According to the data chart, it is very obvious that the coin price has been increasing significantly in the past 24 hours, although the lowest bullish price has appeared in the past few weeks.
Yesterday, we noticed that the price of the coin fell sharply, hitting a 52 week low of $8.58, down 13%.
Earlier today, in the continuous downward trend, tokens showed an upward trend, with the price close to $9.28. One of the main reasons for the sudden rise is the previous coin opening event with more than 21.5 million tokens.
Most importantly, the opening event helped to increase the total supply of coins, which should be 103 million before the event. After the incident, the supply increased by nearly 8%, which increased the value of coins.