Axie Infinity (AXS) is trading at $1.29, surging over 33% in the last 24 hours as trading volume hits roughly $380 million. This marks AXS's strongest single-day performance in months and its first sustained move above the $1 level since November. The ghost of Axie past seems to be doing more than just rattling chains; it’s actually hauling loot bags for the faithful. While many alts are still snoring, AXS just pulled a 33% sprint, proving that volume can still wake up the dead. It’s been months since we saw price action this lively, and the $1 level finally cracked after holding firm since November.
Volume exploded by more than 1,600% within a single day, pushing AXS into the spotlight. This kind of expansion signals a genuine shift in market participation rather than routine volatility. Buyers are stepping in with size, suggesting AXS has moved out of a prolonged accumulation phase. A 1,600% volume spike isn't just noise; it’s the sound of liquidity finally showing up to the party. This isn't your standard market chop; it’s a clear signal that the accumulation era might be closing its doors. Whales are moving, and the bid side is suddenly looking a lot less lonely.
One catalyst behind the rally is a major tokenomic adjustment: the team disabled Smooth Love Potion rewards in the Origins game mode on January 7. This move targeted automated bot farming and reduced token emissions, tightening supply dynamics by cutting off a steady source of sell pressure. Killing the SLP faucet in Origins was the equivalent of putting a leash on the infinite inflation dogs. By targeting the bot farmers, the devs effectively swept the floor of constant sell pressure. The supply side just got a lot tighter, and the market is finally sniffing out the scarcity.
Momentum also follows renewed focus on the long-term roadmap. Co-founder Jeffrey "JiHo" Zirlin outlined plans for 2026 involving larger strategic risks, including the Atia’s Legacy Open Beta. This project aims to introduce deeper economic systems and more complex PvP mechanics. JiHo is looking all the way to 2026, which sounds like an eternity in crypto years, but it signals they aren't packing it in just yet. The Atia’s Legacy Open Beta is the carrot on the stick, promising mechanics complex enough to make a degen’s head spin. It’s a long-term play, but in a market obsessed with the next 15-minute candle, a roadmap this far out is a bold statement.
Governance activity added another layer of interest. A recent proposal approved staking 2,829 ETH (valued near $9 million) from the community treasury to generate yield from idle assets. This signals a more active approach to capital management. The DAO isn't just letting the treasury collect dust; they’re putting 2,829 ETH to work. Staking that stack for yield is a smart move, turning idle bags into productive assets. It’s a refreshing change from watching treasuries get wasted on bad marketing.
Derivatives markets echoed the spot rally, with open interest surging by more than 180%. This indicates traders are opening new positions rather than closing old ones, reflecting expectations of continuation. Technically, AXS rebounded from multi-month support near $0.72 to $0.80. Immediate support now clusters between $1.10 and $1.20, while a sustained move above $1.50 could open the path toward $1.65 to $1.75. Perps traders are jumping in with both feet, boosting open interest by 180%. This
