Bitcoin price has been flat in recent days, while the altcoin market seems to be in motion. Axie Infinity (AXS) is up 100 percent in a week. Apart from AXS, CAKE, MKR, CRV also gained momentum and emerged as some of the top rising altcoins this week.
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As we reported , the token of the blockchain-based game that allows users to collect, breed, fight and trade tokenized creatures called “axies” has increased by over 100 percent in a week. At the time of writing, AXS is down 3.1 percent and is trading at $17.63.
In the early saadollar series of Monday, AXS was the most trending cryptocurrency on CoinGecko and was also among the trending names on CoinMarketCap. Last weekend, Axie Infinity co-founder Jeffrey Jiho Zirlin claimed that the project generated more revenue than MetaMask, Pancakeswap (CAKE), MakerDAO (MKR), and Curve (CRV) combined.
“Axie is still a pretty basic product and there will be a lot of updates coming in the next 9 months,” Jiho Zirlin said. Notably, Small Love Potion (SLP), a token that can be used as currency to generate Axies in the Axie Infinity ecosystem, has also skyrocketed this week, up 79.96%. Over 24 hours SLP rose 18.08% to $0.28. One Twitter user noted that SLP farming is “more profitable” than the salaries of recent graduates in Malaysia.