- Axxie Infinity token AXS jumped 10% on May 17.
- On-chain metrics show a pump in transaction volumes.
- Apple App Store launch facilitated the game token.
YEREVAN (CoinChapter.com) – Gaming token Axie Infinity (AXS) jumped 25% on May 17, briefly peaking at $8.5 in the Asian-Pacific session, and fell back to $7.34 in the New York session, albeit retaining a 10% daily price appreciation.
AXS spikes 10% on the back of raging trading volumes
The chart below shows that AXS overcame the bearish descending channel pattern by breaking above the resistance line. The formation entails two parallel falling trendlines with an instrumental mid-range. However, the channel does not predict a bias after the token leaves the formation.
Instead, it can be instrumental in determining short-term price fluctuations.
AXS broke above the upper trendline on May 17 after Axie infinity bulls doubled down on the trading volumes.
On-chain metrics back the charts.
According to the analytical platform Dune, Axie Infinity transactions peaked at 899, the highest reading since Jan 25. The chart below shows how low the trading volume still is compared to Q3 2021, with 4,000 daily transactions on average.
However, the number of Axie Infinity users has been rising steadily, reaching just below 72,880 on May 17, with the top 10 holders enjoying over 95% of the whole token supply.
Axie Infinity launches on Apple App Store
Meanwhile, the AXS price rally could be attributed to Apple App Store launching the Axie Infinity: Origins card game. The game was previously available in limited regions on the Google Play store and through the company’s Mavis Hub.
In detail, Origind is a card-based strategy game that provides players with free non-NFT “starter” characters. Players with compatible NFTs can use them directly in the application. The iOS version would operate on Sky Mavis’s Ethereum-based Ronin blockchain. Axie Infinity claims this is the first time that Apple has agreed to make an externally-purchased NFT usable on the App Store.
It will first launch in the Apple store across Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia, and Vietnam. The game has 1.5 million installs across all platforms and “plans to continue its global expansion” via Google and Apple mobile users.
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