Author : Mark
Date : Dec 06,2022
NFT token gains, driving up trade volume.
Metaverse and NFT-focused coins like Axie Infinity (AXS), Flow (FLOW), Apecoin (APE), and Sandbox (SAND) have experienced significant price increases over the past day.
The AXS governance token from Axie Infinity has increased by 28% over the past day, making it the top gainer among the top 100 cryptocurrencies.
According to data from CoinGecko, AXS is currently the 46th-largest cryptocurrency with a market value of just under $935 million. It's also important to remember that after reaching an all-time high of $164.90 in November 2021, AXS has lost almost 95% of its value.
The transaction volume for Axie Infinity has recently varied between $18,000 and $48,000, according to the NFT statistics portal CryptoSlam.
Additionally, according to Coinglass, $2.3M was liquidated on the previous day as a result of today's big price movement.
The increased NFT sales volume has been a major factor in the bullish price movement in the metaverse and for tokens connected to NFT during the past 24 hours.
Statistics from CryptoSlam show that the total volume of NFT sales climbed by 20.75% during the course of the previous day, reaching slightly over $16.5 million. Ethereum-based NFTs saw a 30% rise in daily trading volume.