Why is Axie Infinity (AXS) going up? (May 25, 2023)

Axie Infinity is a blockchain-based trading and battle game. In Axie Infinity, players collect, upgrade, fight, and trade token-based creatures called Axies. Axies are NFTs, and each has unique features. AXS is the native token of the Axie Infinity platform used to vote on management decisions regarding the Axie Community Treasury. Players with Axies can earn rewards by playing the game, staking their tokens, and participating in important governance votes.

AXS is up 4.22% in the last 24 hours. The fact that Axie Infinity (AXS) continues to rise despite the downtrend in the market can be due to the announcement that it has been added to the App Store as a game.

A cryptocurrency platform announced today that BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT, and USDC are listed for Hong Kong-based retail investors. Users in Hong Kong can now trade 16 major virtual assets on the platform’s mobile app, including BTC, ETH, and others. These assets can be purchased with HKD, Peer-to-Peer (P2P) or via ApplePay, Visa and Mastercard through third-party providers. This announcement may also have contributed to the rise of AXS.