Analysis

Axie Infinity (AXS) Gains 22% After Seeing Top Ethereum Whales

Data from the whale measurement platform WhaleStats shows AXS was the most traded altcoin among the 1,000 largest ETH wallets within 24 hours last weekend.

WhaleStats also shows that some major Ethereum whales have invested millions of dollars in AXS.

The third largest Ethereum whale has purchase 40,000 AXS (worth over $2.46 million) in a single transaction.

The 18th largest Ethereum whale was purchase 40,000 AXS (worth nearly $2,248 million) on Saturday (February 5) and purchase 174,000 AXS (worth over $11.23 million) on Sunday (February 6).

Axie Infinity is a blockchain based trading and fighting game. Players and stakeholders are allowed to collect, farm, breed, fight and trade digital collectibles.

Axie Infinity’s native token, AXS, is trading at $64.09 at press time, the altcoin ranked 39th by cap after gaining 22.1% over the past seven days.

Cryptocurrency analyst Altcoin Sherpa predicts that AXS price will continue to rise.

“AXS looks pretty good. I think it will go up to $80 and then pull back.”

Source: Altcoin Sherpa/Twitter

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.