Metaverse and NFT-focused cryptocurrencies, including Axie Infinity (AXS),Flow (FLOW), Apecoin (APE), and Sandbox (SAND), have posted significant gains over the past 24 hours.

Play-to-earn (P2E) gaming platform Axie Infinity’s AXS governance token soared 25.6% in the last 24 hours, making it the largest gainer among the top 100 cryptocurrencies, per Coingecko.

As of this writing, AXS trades at around $8.54 and is the 46th-largest cryptocurrency boasting a market capitalization just north of $970 million.

Despite today’s heroics, AXS has had a rocky 2022. AXS lost nearly 94.8% of its value from its recorded all-time high of $164.90 in November 2021.

According to NFT data platform CryptoSlam, trading volume for Axie Infinity has fluctuated between roughly $18,000 and as high as $48,000 over the past few weeks.


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