Axie Infinity (AXS) price gained 20% last week after a rare gaming tournament triggered an unexpected bull rally. With the tournament still ongoing, on-chain data suggests that the rally may not be over. Can the bulls push for me AXS price gains? 

The finals of the AxieTH World Battle Bangkok 2023 kickstarted on June 25. Within a week, network activity soared and pushed AXS price above the critical $6.50 resistance. While the price has declined slightly in the last few days, on-chain data suggests that more gains could be ahead. 

Axie Infinity Network Activity Has Increased Significantly 

According to data compiled by blockchain forensics platform Santiment, the spike in network activity has played a pivotal role in the ongoing price rally. On June 23, Axie Infinity only attracted 1,524 active users. As AXS Price Gains 20%, network activity has also risen comparatively.

The chart below shows that AXS Daily Active Addresses have risen by 22% to 1,864 by the close of July 3. 

The Active Addresses (7d) measure changes in user activity by aggregating the daily number of unique
Go to Source to See Full Article
Author: Ibrahim Ajibade

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details