AXS Token Surges After SLP Emission Halt; Volatility Rises as Trading Volume Hits $55M

Axie Infinity (AXSUSDT) has seen heightened volatility following significant developments in its tokenomics, specifically the suspension of Smooth Love Potion (SLP) emissions by Sky Mavis, which has reduced selling pressure and increased demand for AXS. This change, alongside strong sector-wide capital inflows in the GameFi and metaverse space, recently propelled AXS to a multi-week rally, with trading volumes and price surges far outpacing the broader crypto market. However, in the last 24 hours, the price on Binance has decreased by 4.46% to 2.700 USDT, down from an open of 2.826 USDT, reflecting a short-term pullback after a period of rapid gains and resistance near key technical levels. Current 24-hour trading volume on Binance stands at $55.21 million, and the circulating supply is approximately 168–180 million AXS out of a total cap of 270 million, with overall market capitalization estimates ranging from $460 to $765 million across platforms.