Axie Infinity price jumped 10% on 31 August as AXS daily trading volume surged to $423 million, driven by heightened altcoin flows on South Korean exchanges. The volume spike lifted AXS intraday but technical indicators and range resistance suggest the rally may be short-lived.
AXS daily volume spiked to $423M on 31 Aug
Price reached $2.80 intraday and closed at $2.52 amid range resistance.
On-chain metrics and a sparse liquidation cluster near $2.4 signal limited bullish conviction.
Axie Infinity price surge driven by $423M volume on 31 Aug; read analysis and levels to watch for AXS momentum.
What caused the Axie Infinity price surge on 31 August?
Axie Infinity price rose 10% after daily trading volume for AXS spiked to $423 million on 31 August, largely due to elevated altcoin flows on South Korean exchanges. The surge produced a sharp intraday high but met strong mid-range resistance, limiting follow-through.
How large was the volume spike and where did it come from?
The $423 million AXS volume on 31 August was around 14x higher than the prior week’s average of ~$30 million. South Korean trading venues showed heavy activity in several altcoins, suggesting regional order flow concentrated the move. Official exchange data and market trackers reported the spike as an outlier versus recent averages.
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Axie Infinity (AXS) saw $423 million in daily volume on 31 August, a near 15x jump from the prior-week average of about $30 million. The surge coincided with broad altcoin flows in the South Korean market and produced a sharp intraday move up to $2.80 before profit-taking.
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Source: https://en.coinotag.com/axie-infinity-volume-surge-sparks-10-gain-continued-axs-rally-seems-unlikely/