Axie Infinity: Decoding if a spike in interaction can shift AXS’s trend

AxieInfinity: Decoding if a spike in interaction can shift AXS's trend

Notably, there was a 59% increase in Unique Active Wallets utilized on the AXS network, according to. For context, the metric described how interactive users have been with decentralized applications on a smart contract platform.

While it did not translate to daily active users, it meant a rise in gaming activity and in-game AXS NFTs.This was the case until 14 January. However, information from the global dApp tracker showed that there has been a decline in active wallets interaction. At press time, the UAW had decreased 5.79% in the last 24 hours. This decline also made the transactions fall, as their volume shredded to $743,290.

The dip in volume further spread to the discernment towards AXS. According to Santiment, the total sentiment regarding Axie was -0.255. ThisDespite the decrease, on-chain data showed that AXS’s circulation in the last seven days was up at 2.31 million. This increase inferred an improvement in AXS exchanged between wallets within the aforementioned period. However, a further spike could propel short-term sell pressure for the token.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Decoding ApeCoin’s [APE] high MVRV ratio and recent data breachA high MVRV ratio suggested a potential selling pressure for APE holders. A recent data breach negatively impacted the public sentiment towards APE. Based on Santiment’s data, it was observed that the 1-year MVRV ratio for APE was much higher compared to other altcoins. This simply meant that most ApeCoin addresses holding onto APE would […]
Read more »

FTX CEO Ray says the exchange could be revived, sparking a 50% spike in FTT priceJohn J. Ray III, the new head of FTX, surprised crypto fans by saying that the exchange could possibly be revived, which sparked a 50% rally for FTX Token (FTT).
Read more »

Non-alcoholic beverage sales spike in N.L. as dry January picks up steam | CBC NewsThe sales of non-alcoholic beverages are spiking in Newfoundland and Labrador and across the country as trends like 'dry January' pick up steam and some people consider consuming less alcohol throughout the year or cutting it out entirely.
Read more »

'Rage applying': The latest social media trend by fed-up workers - BNN BloombergWorkers frustrated with poorly run meetings, toxic bosses and too much work for too little pay are taking 'quiet quitting' a step further with 'rage applying' – the new social media buzzword for applying to dozens of jobs after reaching a breaking point at work.
Read more »

What is Recession Core?Amid economic turmoil, recession core is the TikTok-coined aesthetic trend that prioritizes usefulness over embellishment.
Read more »

Bitcoin Exchange Balance hits 4-year low: How will this impact BTC?Glassnode chart revealed that Bitcoin was experiencing a low exchange balance. The current downtrend might be indicative of a bull trend rather than a bear trend. After the FTX meltdown, Bitcoin [BTC] began a rally that saw its value increase by over 25% and make up for the losses. The rest of the cryptocurrency market […]
Read more »