Axie Infinity’s AXS token leads the cryptocurrency market with a 40 percent increase in just a few hours

AXS, one of the tokens in the Axie Infinity gaming ecosystem, is the asset whose price has seen the largest growth in the past 24 hours in the cryptocurrency market. The 37.6 percent increase took AXS from $6.85 to $9.43.

At the time of writing, the price of AXS has fallen to $8.75. However, trading volume in recent hours has remained high, having increased tenfold. Average daily volume has increased from $35 million to $375 million..

The reason that could drive the price of Axie Infinity AXS, beyond the rise of other cryptocurrencies, is an announcement made on Dec. 4 about the governance system and decentralization.

The Lunacian, the official blog The official blog of Axie Infinity, published an article yesterday afternoon in which. announced the launch of a new initiative called “Axie Contributors.”which stands for Axie Contributors.

The contributors program is a group of nearly 700 people that aims to decentralize governance in the Axie Infinity ecosystem. This is part of a long-term plan for progressive decentralization that was discussed by executives from Sky Mavis, the developer of the game in question, in September this year at AxieCon.

The contributors were selected from a group of long-time members of the Axie Infinity community, known as “Town Builders.” The selection process was based on the level of commitment demonstrated by the candidates. to the Axie community, their time spent as members of the Axie community, and their integrity in adhering to the established code of conduct.

Bitcoin and altcoins have also made an impact

While AXS was the token which has seen a more pronounced increase in recent hours, the cryptocurrency market in general has witnessed a significant influx of money. Bitcoin, the market leader by market capitalization, surpassed $16,000 for the first time since the crisis triggered by the failure of FTX. A fact covered extensively by CryptoNews. Satoshi coin shows a 5.5 percent increase and a price of $17,057. at the time of writing.

EthereumThe cryptocurrencies Litecoin, Polygon and Dogecoin are all up more than 10 percent on the day, as are Avalanche, Uniswap and The Sandbox, another video game-related ecosystem, all up 8.22 percent in the past 24 hours to $1,265. blockchain.

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