According to the last 30 days of network activity reflected in on-chain data, demand for Axie Infinity (AXS) has increased.
According to DappRadar’s on-chain data, the demand for Axie Infinity, a crypto project with a play-to-win model, has increased. Data revealed that Axie Infinity has experienced a sharp increase in demand over the last 30 days.
According to on-chain data, the number of wallets interacting with Axie Infinity’s decentralized application has increased by 30 percent in the last 30 days. The number of wallets that completed at least one transaction in the application approached 75 thousand.
Axie Infinity (AXS) attracted attention
These days, when the crypto market is moving with bullish expectations, the play-to-win project Axie Infinity (AXS) has come to the fore. According to on-chain data from DappRadar, Axie Infinity experienced a 30 percent increase in demand in November. Active wallets have turned more towards the Axie Infinity project.
As the number of Axie Infinity users increased, the number of completed transactions also increased. According to the data, the total number of transactions completed between wallets and smart contracts of the Axie Infinity application reached 1.41 million in the last 30 days. This meant a growth of 19 percent.
The increased interest in the Axie Infinity project has been attributed to Sky Mavis, the team behind the project, integrating a number of Japanese Web2 games into the Ronin blockchain.
According to data from CoinMarketCap, AXS has experienced a 5 percent increase in the last 7 days. The popular cryptocurrency reached a market cap of $827 million, making it the 61st largest cryptocurrency by market cap. AXS’s daily volume is close to 75 million dollars.
Looking at the AXS chart, it was seen that the increase in demand was reflected in the price. AXS price broke the major resistance in the $5.99 region and rose to the $6.27 level. AXS gained potential strength by turning $5.99 resistance into support. With the strength from this point, AXS could test the $6.43 resistance. The $6.43 resistance could be a potential bullish crossover. Thus, AXS could target $6.90 right after $6.43. $6.90 is known as a strong support point where sellers are concentrated. If this zone is exceeded, the price may rise to $7 in a short time.
On the other hand, AXS may experience a strong decline as market conditions turn negative. AXS may test the major support point located in the $5.99 region. If this support point is broken, AXS price could decline sharply to $5.15. If $5.15 is also lost, the next support point will be $4.81.
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