Today’s discussions across social media and crypto trackers lit up with Web3 gaming tokens breaking out in dramatic fashion, as Axie Infinity’s AXS token catapults nearly 70% in a single day to hover around $2.02. The token caps a weekly gain exceeding 110%, with trading volume exploding past $1.12 billion in the last 24 hours alone, far outpacing many mid-cap altcoins.
As discussions pile up, traders note how AXS has flipped key resistance levels tied to past crashes, like the October 10th candle, setting the stage for broader altcoin freedom in the sector. The rally feeds directly into Ronin network activity, where Axie Infinity runs, boosting ecosystem tokens and drawing players back to familiar play-to-earn mechanics that once defined the space.
The Surge Ignites
What starts with AXS ripples outward, as Ronin (RON) climbs 20% over the past day and 28% weekly, reflecting heightened chain usage from Axie’s resurgence. The Sandbox (SAND) mirrors this with a 30% daily jump and 32% over seven days, while Smooth Love Potion (SLP), Axie’s in-game breeding token, edges up 14% in 24 hours and 16% weekly. Illuvium (ILV) rounds out the pack at 15% daily and 14% weekly gains.
The movement has pushed the GameFi market cap toward $1 billion, with viral posts showcasing charts that echo earlier bull cycles but now backed by sustained volume. Players and traders alike point to Ronin’s scalability handling millions of daily users, a battle-tested edge from Axie’s peak that positions it ahead as gaming tokens reclaim spotlight.
Factors Fueling the Fire
No single patch note sparks this, but cumulative developments align: Ronin’s Moku Grand Arena drops collections hitting 2M RON volume, Power Protocol’s casino tie-ins, and whispers of Cambria Genesis pull users in. Axie’s free-to-play pivots with bAXS and Ronin tweaks enhance experiences, also tying into broader GameFi green across MANA and ALICE. Trading pairs on Binance and Bitget see AI insights boost spot activity, while sector caps near billions reflect whale accumulation post-October dips.
This follows historical beats, like 2023 pumps where AXS hit six-month highs on Ronin momentum, but now with matured infrastructure handling NFT volumes second only to Ethereum. Risks linger in overleveraged plays or BTC dominance spikes, yet open interest jumps and spot surges suggest organic flow, potentially altering metas as players adapt strategies around lag-free chains.