Axie Infinity Hits ATH, Flips Polygon to Become Top 20 Cryptocurrency

Axie Infinity has broken into the Top 20 biggest cryptocurrencies list on CoinMarketCap with a 40% gain for AXS in the last 24 hours.

By
Robert D. Knight
on
October 4, 2021
Category:
Blockchain News

The Rise and Rise

The incredible rise of Axie Infinity (AXS) continues. The GameFi project has broken into the Top 20 cryptocurrencies by Market Capitalization on CoinMarketCap, flipping Polygon (MATIC) in the process. 

The bull run catapults Axie Infinity’s AXS token from $109.40 just 24 hours ago, to $153.46 at the time of press. Axie Infinity’s market cap now sits at $9.1 billion, significantly ahead of Polygon’s $8.4 billion. Following the flippening, the general sense of excitement on crypto Twitter was palpable.

“Hello top 20, nice to meet you,” said Twitter user cryptoChaz on October 4th. Another simply added, “Wow $axs top 20.”

There is little doubt that Axie Infinity holds the crown in the gamified play-to-earn space. BSC News reported the market cap of Axie Infinity was almost $2.5 billion on August 1st. The current cap of $9.1 billion marks a 364% rise in just two months, and another impressive milestone reached for the GameFi project. 

Siri, show me success in a graph format | Source: CoinMarketCap

A new Dapp Radar industry report from October 1 shows the game is far and away the GameFi leader in several metrics. It surpassed 1.5 Million active users in quarter three. During Q3, Axie generated $776 Million in revenue, more than entire blockchains such as Binance Smart Chain and bitcoin. 

Axie is also the only NFT asset with over $1 Billion in trading volume, at $2.1 billion. The second-place game, CryptoPunks is way behind at $800 Million. The domination is truly remarkable. 


What is Axie Infinity?

Axie Infinity is a play-to-earn battling game that shares some similarities with Pokemon and Tamagotchi. Players collect, breed, raise, battle, and trade token-based non-fungible token (NFT) creatures known in the game as Axies.

Each Axie has its own strengths and weaknesses and is customizable with around 500 different traits. Players can evolve and upgrade their Axies which can then be used or sold on the Axie Infinity marketplace.

Where to find Axie Infinity:

Website | Twitter | Medium | Discord | Reddit |

Tags:
Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy in ETH and BTC, plus he also hodls some smaller cryptocurrency.

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.