AXS Token Surges 6.2% as Supply Drops and Trading Volume Hits $575M on Binance

Axie Infinity (AXSUSDT) has experienced a notable price increase over the past 24 hours, rising by approximately 6.2% to a current price of $2.689 on Binance. The recent bullish momentum is attributed to several factors, including a substantial reduction in circulating supply following the disabling of Smooth Love Potion (SLP) rewards in Origin mode, which decreased daily emissions by about 90%. Additionally, the staking of 9 million ETH from the project’s treasury has boosted institutional confidence, while technical indicators such as an overbought RSI and a strong MACD signal suggest ongoing buying pressure. Robust trading activity, with 24-hour volumes exceeding $575 million, and high trader interest have further supported the upward trend, positioning Axie Infinity among the top 100 cryptocurrencies by market capitalization.