- NFT and Metaverse-focused cryptocurrencies have posted notable gains over the past 24 hours, with Axie Infinity being the highest gainer from the top 100 tokens.
- Approximately $20k in AXS short trades were liquidated in the last 24 hours.
- Overall, NFT sales volume surged 20.75% in the last 24 hours to sit just above $16.5 million.
Given the fact that the crypto market is recovering, tokens related to the metaverse and NFT in AXS, Apecoin, Sandbox, and others have benefitted the most. Tokens such as Axie Infinity, Flow, Sandbox, and Apecoin have noted significant gains over the past 24 hours.
Axie Infinity was the coin that noted the maximum gains. The AXS governance token of Axie Infinity surged 25.6% in the past 24 hours. Axie has managed to top the chart consisting of 100 currencies.
We need not say what a bad time it has been for Axie Infinity, as it had a rocky year. The coin lost around 94.8% of its value from its record high of $164.90 in the month of November 2021. In addition, the trading volume for Axie Infinity has been volatile between $18,000 and 448,000 over the past few weeks.
As per today’s bullish price action, around $20,000 in Axie short trades were liquidated in the last 24 hours. Talking other coins in this sector, such as the token powering the Flow blockchain, has managed to surge over 5.5% over the past 24 hours.
Apecoin, the token based on Ethereum, has also managed to surge by 4% over the past 24 hours and is trading around $4.12. In addition, the daily volume of the APE surged 66% to $192 million over the past day.
SAND, the virtual real-estate project, has surged by 6.7% to sit just above $0.62. Well, it is not too low to be counted in the NFT-based token rally.
Well, let’s talk about the major reason behind the bullish price movement of the metaverse and tokens related to NFTs is the surging sales volume over the past 24 hours.
NFTs based specifically on Ethereum noted a 31.36% spike in the daily trading volumes, followed by Flow standing at 16.28%.