Axie Infinity (AXS) is up more than 100% after a massive downside
On Sunday 13 November When Axie Infinity (AXS) made a new price of 4$ and now 5 December the price pumped more than 2x, AXS pumped today more than 25% Open price is $6.68 and is high at $8.8 at the time writing.
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. We update our AXS to USD price in real-time. Axie Infinity is up 25% in the last couple of hours. The current CoinMarketCap ranking is #51.
Before we moving why the price of AXS is pumping first we look into 13 November when AXS’s price surged more than 200% when the price of AXS is around $6.33.
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Why did Axie Infinity (AXS) surge on 13 November?
On November 13, the price of Axie Infinity is up more than 200% going from $6.33 to $19.12 in just a few minutes. In the next few hours, the price of AXS fell to as low as $3.99, quickly going back to where it had been.
The day when AXS suddenly surge more than 200% then CarlosOMFG a Twitter handle mentioned CZ Binance and Binance Exchange he said “Anyone wondering why #AXS is pumping. Someone, somehow bought a million dollars worth on my @cz_binance @binance account.”
The pump happened because someone hacked CarlosOMFG's Binance account and put in a big buy order for AXS. AXS tokens were bought from his Binance account, causing the price of AXS to go up by 300%, and the account holder got rekt.
After this tweet CEO Of Binance responded to the CarlosOMFG tweet.
Why Today’s Axie Infinity Price Surged more than 25%
The Axie Infinity team announced that it has chosen 700 community members to join the inaugural pilot “season” of the Axie Contributors, who would partake in a newly created “Governance” section on the game’s Discord channel. The team stated its plans to actively work toward an end-state in which “invested” community members would be responsible for making resourcing decisions. In May, the Axie Infinity “Town Builders” collective of well-established community members was established.
After the positive news from the Axie community, the price of AXS tokens surged.
The Axie Infinity team has announced plans to decentralize decision-making in the Axie ecosystem, with community members responsible for making resourcing decisions. Earlier this year, the team stated its plans to actively work toward an end-state in which “invested” community members would be responsible for their own development and maintenance.
Originally published at https://cryptoavanza.com on December 5, 2022.
