Axie Infinity game token grew by 25% in just one hour

Axie Infinity’s native blockchain-based game token AXS grew by 25% in just an hour. Currently, the cryptocurrency is trading at $ 8.47, according to CoinCoin. Cryptocurrency analysts believe that one of the reasons for the growth of AXS is the upcoming decentralization of the project, which was announced by Axie Infinity representatives on their Twitter page.

Today, a group of over 600 dedicated and impactful community members have been gathered together to help shape the future of @AxieInfinity.

It's been an honor to play a role in this early process. I'm looking forward to being part of whatever comes next! Let's keep building 🛠️ https://t.co/8KfZCl4oiz

— Artic. ron 🦇🔊 (@Axie44) December 5, 2022

As it became known, more than 700 investors and influential members of the Axie community have united to «change the future of Axie Infinity.» Currently, the project is at the initial stage of decentralization, but users have already stepped up to the plate by purchasing AXS. The game token managed to rise to the 46th position among the top 100 digital assets by market capitalization.

It is worth noting that despite its significant growth, AXS is still called «one of the biggest losers» in the crypto market. After reaching its all-time high of $ 164.90 in November 2021, the token has plummeted by 95%. Regarding the current state of affairs of AXS, analysts are convinced that if the digital asset fails to reach a value above $ 9, the token will continue to move on a bearish trajectory.

As a reminder, the Axie Infinity project is still experiencing difficulties after the March hacker attack. Back then, the attackers used an exploit that affected Sky Mavis validator nodes. Later it became known that the hackers were able to steal funds thanks to spyware downloaded by one of Axie Infinity’s developers. The company suffered losses of 173,600 ETH and $ 25.5 million — 1/3 of the stolen assets belonged to the company, but more than 100,000 ETH were gaming ones. However, immediately after the attack, users were promised a full refund.