Axie Infinity

The blockchain intelligence firm, Santiment, tweeted today that Axie Infinity (AXS) and Smooth Love Potion (SLP) have “come back to earth after address ...

[Block List](/members-admin/settings-blocked-users) [See original on CoinEdition](https://coinedition.com/price-of-axie-infinity-axs-surges-45-over-the-last-24-hours/) [Free Sign Up](javascript:void(0);)

Over 4.8 million Axie Infinity tokens (AXS) are unlocked today, seeing the price surge 39% in 24 hours. But is it exit liquidity?

[data](https://activeplayer.io/axie-infinity/) from ActivePlayer.io, the average number of monthly players in the past 30 days is 432k, roughly the same as in Nov. 24, 2022, the price of [AXS ](https://beincrypto.com/3-reasons-why-axie-infinity-axs-price-is-tanking/)fell dramatically. [fears](https://twitter.com/KalababaS/status/1617386991297101824) that the bulls are doing an exit pump with incoming unlock. The average number of monthly players has declined from a peak of 2.7 million in Jan. [TokenUnlocks](https://token.unlocks.app/axie-infinity), over 4.8 million AXS tokens, which make up 1.8% of the total supply, will be unlocked today. The token is trading at around $12.85 as of writing, with a market cap of over $1.5 billion.

A buy signal from the Moving Average Convergence Divergence (MACD) indicator adds credence to the bullish outlook in Axie Infinity price.

C+Charge is a new crypto project likely to pique the interest of EV drivers and other people championing a cleaner planet. Investors with an interest in play-to-earn (P2E) crypto gaming platforms may direct their attention to Meta Masters Guild, the first mobile-focused web3 gaming guild. It is worth noting that a retracement to $12.00, or even $10.00 will allow many sidelined investors to buy AXS ahead of the next move to $20.00. For example, the region between $13.83 and $14.32 is home to 1,720 addresses that purchased 79.27 million AXS. This indicator resembles the Relative Strength Index (RSI) but tracks the volume to gauge the momentum of the trend. According to IntoTheBlock, a similar growth pattern was reflected by daily active addresses currently at 750 from 264 in the same period. It has become a norm for cryptocurrency prices to rally during the Lunar New Year (Chinese New Year). Axie Infinity price is at the helm of its recovery after exploding another 29% in 24 hours to trade at $12.86 at the time of writing. Furthermore, it is the best way for AXS to prevent sudden distractive pullbacks likely to be caused by overhead pressure from a panic-selling wave to book early profits. This will pave the way for other macro and fundamental factors to catch up with the price momentum. During this time, over the counter (OTC) services are usually closed – a situation that escalates to an extremely volatile crypto market. The NFT and gaming token extended the current green candle’s wick to $14.00, a price level that was seen last in September.

The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 23, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the ...

With more tokens going into circulation, investors need to hope that the developers can do something to reverse its slumping user metrics.

The circulating supply of Axie Infinity tokens is set to jump from 66.15% to 73.28%. With a higher supply of Axie Infinity tokens in circulation, I would have expected the price to drop, at least modestly. Finally, today's unlock for Axie Infinity is small. Today's unlock event will add about 5 million tokens to the circulating supply, taking Axie Infinity's supply from 64.34% in circulation to 66.15% in circulation. Axie Infinity is scheduled to have a token unlock today. Moreover, Axie Infinity tokens are up about 37% over just the past week, according to data from CoinMarketCap.

Web3 gaming leader Axie Infinity's AXS token has surged over 40% in one day, reaching a four-month high of $13.94, according to CoinGecko.

The developer plans on keeping its momentum and expanding its ecosystem in 2023. Axie Infinity’s parent company, Sky Mavis, has previously announced that it is onboarding more game studios to build the next generation of Web3 games on the Ronin Network. The Farmville lookalike will host players to harvest, craft, battle, and build their homeland. Despite the bearish sentiment around them, Token unlocks have become an event for project teams to share positive news that could counteract the bearish impact. Surprisingly, token unlocks are bearish because the events enable investors to capitulate and lock in profits. However, some users on Twitter have also shared that the Chinese New Year festivities could be the reason.