GameFi tokens are rallying, with the sector\u2019s market capitalization surging more than 7% in the past 24 hours.<\/p>\n
Axie Infinity (AXS) is leading the charge with a weekly gain of 28%, while its in-game currency, Smooth Love Potion (SLP), rocketed an impressive 62% for the week.<\/p>\n
GALA also enjoyed a 47.5% weekly push, while STEPN is up 18% in 24 hours.<\/p>\n
Many other top web3 games and gaming infrastructure projects posted double-digit gains for the week, including The Sandbox with 16%, Illuvium and Enjin with 22%, and ImmutableX with 12%.<\/p>\n
<\/a><\/p>\n <\/a><\/p>\n Axie\u2019s resurgence follows the launch<\/a> of Season 6 of Axie Infinity Origins on Oct. 4, with users competing for a share of 112,000 AXS ($650,000) in prizes. The new season introduced updated in-game mechanics and reduced onboarding friction.<\/p>\n However, AXS posted a new 2023 low of $4.09 on Oct. 19, two days before 15.13M AXS or 11.5% of the token\u2019s supply was unlocked<\/a> and distributed to large investors. While such a large volume of tokens entering supply typically precedes bearish price action, the unlock curiously coincides with when the recent AXS rally began.<\/p>\n Axie Infinity put blockchain gaming on the map during the bull run of 2021<\/a>, with AXS soaring to a market capitalization north of $10B in November 2021. It was credited with helping many in the Philippines weather the pandemic<\/a> through its play-to-earn mechanics.<\/p>\n In the two years since then, Axie has been attempting to reinvent itself<\/a> after a $600M exploit<\/a> of its Ronin bridge battered the ecosystem in May 2022.<\/p>\n Start for free<\/a><\/div>\n <\/p>\n <\/a><\/p>\n According to CryptoQuant, the number of active AXS addresses also jumped from 173 on Oct. 15 to a three-month high of 445<\/a> on Oct. 24. Data from DappRadar also shows a 22%<\/a> increase in weekly Axie Infinity players from 13,000 on Oct. 18.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" GameFi tokens are rallying, with the sector\u2019s market capitalization surging more than 7% in the past 24 hours. Axie Infinity (AXS) is leading the charge with a weekly gain of 28%, while its in-game currency, Smooth Love Potion (SLP), rocketed an impressive 62% for the week. GALA also enjoyed a 47.5% weekly push, while STEPN […]<\/p>\n","protected":false},"author":2,"featured_media":183958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-183957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=183957"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183957\/revisions"}],"predecessor-version":[{"id":183960,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183957\/revisions\/183960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/183958"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Performance](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F6b30f47e0490f5dbc19de980bf32aeb5f967f0c3-774x637.jpg&w=828&q=75\")
![\"screenshot](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F831ec476b1d1a18de6e8fe6852bfc458ea565d1f-1456x819.jpg&w=828&q=75\")
<\/figure>\n15M AXS Unlocked<\/h2>\n
\n
![\"AXS](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fefdd686aff2945fa97d6ba9487f75bedd924378e-807x423.jpg&w=828&q=75\")