AXS Token Surges to $1.80 on $681M Volume Before 8% Drop as Axie Infinity Revamps Tokenomics

AXSUSDT has experienced elevated volatility over the past week, leading to frequent liquidations in the futures market and prompting exchanges like Phemex to adjust trading parameters, such as shortening the funding interval due to volatile conditions. Recent market activity was driven by a surge in trading volume—reaching up to $681.34 million—and bullish sentiment following major tokenomics changes in Axie Infinity, including the disabling of SLP rewards in the Origins game mode and renewed focus on the project's strategic roadmap. Despite a strong rally that saw AXS briefly break above $1.00 and reach highs above $1.80, the price has reversed in the past 24 hours, declining by 7.98% to $1.671 (according to Binance), as increased token inflows to exchanges and profit-taking have weighed on the market. The current market cap is estimated between $283.48 million and $343.93 million, with circulating supply at 168.24 million tokens.