AXS Price Spikes 6% in No Time: Possible Reasons

While crypto markets are positive today, catalyzed by yesterday’s U.S. inflation rate news, some tokens are outperforming their competitors: Axie Infinity’s AXS is one of them.

AXS price spikes as team introduces Holiday patch

Today, on Dec. 14, 2022, the price of Axie Token (AXS), a core cryptocurrency of Axie Infinity blockchain game heavyweight, spiked from $7.66 to $8.12 in less than one hour, adding over 6%. This massive spike should be attributed to the release of Axie’s Holiday patch and its Lore of Lunacia video.

It all began with a glimmer in the dark unknown… pic.twitter.com/7sUDOUYtJe

— Axie Infinity | #AxieOrigins (@AxieInfinity) December 14, 2022

In this video, creators reveal the legend of the creation of Axie Infinity’s fictional world, Lunacia. It tells the story of the conflict of Axies with Agonia, Lord of Chimeras. Previously, this character did not appear in Axie Infinity’s gameplay.

Also, the community now knows the creator of Axies’ world, Atia, who is introduced as the “All-loving Sun God who created the Supreme Axies.”

Axie Infinity’s product director, Jeff Kam, stresses the importance of this announcement for the development of the game’s narrative:

A big day for Axie Infinity. Lore is one of the most important pieces in the construction of our nation. It gives axies purpose. It gives our actions context. Today’s trailer sets the foundation for future stories. Big or small, every axie has a place in the lore of Lunacia.

According to the announcement shared by Axie Infinity’s Sky Mavis in a Substack, the game received a new Christmas-themed home page. The novel Snow Arena background appears in the game, while some long-term users received exclusive Christmas cards.

Metaverse tokens rocketing: POLIS jumps by 50% in one week

As covered by U.Today previously, Axie Infinity (AXS) has undergone major upgardes in recent weeks. The release of Axie Core NFT mechanics resulted in a double-digit price increase.

In December 2022, a number of low-cap and mid-cap cryptocurrencies from the NFTs, GameFi and metaverse segments appeared in leaderbords of growth rates.

Star Atlas DAO (POLIS) token, which was among the worst sufferers of the FTX/Alameda drama, more than doubled since Dec. 1. Its price printed a multi-month high over $0.45.