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The prevalent downturn in the cryptocurrency market in 2022 brought about a sizeable drop in consumer engagement within the play-to-earn (P2E) ecosystem, a Santiment record states. However, there has been a recent uptick in hobby in crypto gaming, particularly in early 2023.
Since the commencing of the year, DappRadar reports that the most famous peer-to-peer (P2P) gaming platform, Axie Infinity, has posted a 59% surge in unique Active wallets (UAWs). A similar finding by Santiment reveals that complete income rose 214%. Meanwhile, daily transactions multiplied by greater than 100% in the first 1/2 of this year.
Accordingly, the demand for its native tokens, Smooth Love Potion [SLP] and Axie Infinity Shards [AXS], coupled with the expand in the number of day by day lively wallets actively engaged, SLP and AXS rallied. Specifically, AXS soared to print a new Q1 2023 high remaining week, a welcomed remedy after 2022’s turmoil.
AXS is presently trading at $9.38 when writing, rising 13.94% in the final 24 hours, in accordance to CoinMarketCap. Its market cap also rose to $948,558,367, a 13.96% amplify from the preceding buying and selling day. AXS has an average each day trading quantity of $134,862,264, with 101,105,780 AXS in circulating supply.
AXS’s state of affairs at this writing might also want to improve, regardless of Axie Infinity’s recent integration of a Google Cloud validator. This validator will start confirming transactions in the Ronin Network.