AXS - Vietnamese cryptocurrency with a market capitalization of 2.5 billion USD

AXS – Vietnamese cryptocurrency with a market capitalization of 2.5 billion USD

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2021-07-26 05:39:43

The cryptocurrency of the game Axie Infinity, developed by Sky Mavis – a studio in Vietnam, has a market capitalization of $ 2.5 billion. This coin is being traded on the world’s largest cryptocurrency exchange Binance for investors to buy and sell.

According to Coinmarketcap data on the morning of July 26, each Axie Infinity coin (codename AXS) is valued at $41.51. In the last 24 hours, the trading volume was 2.9 billion USD. Currently, the market capitalization of Axie Infinity cryptocurrency is $2.5 billion with approximately 61 million AXS coins in circulation.

The AXS coin has risen sharply in the past month and has a market capitalization of $2.5 billion. Photo: Coinmarketcap.

According to Coinmarketcap statistics, AXS is ranked 40th in the list of the strongest digital currencies in the world.

On the evening of July 24, the value of each AXS coin peaked at $45.6, an 8 times increase in value compared to the beginning of July.

Axie Infinity is a game built on the blockchain platform. Players will contribute to the operation of the game. Specifically, in the game, players will create a team with 3 Axies (game characters) to do missions and participate in combat. Every time you win the rounds, the player will receive AXS tokens.

Axie Infinity requires players to spend an initial cost of about 800-2,000 USD to be able to create a squad of 3 Axies to fight.

Axie Infinity game development team.  Photo: Sky Mavis.
Axie Infinity game development team. Photo: Sky Mavis.

Sky Mavis, the Vietnam-based game development studio, was founded in 2018 by Nguyen Thanh Trung with Aleksander Leonard Larsen and Jeffrey Zirlin.

The idea of ​​the game Axie Infinity was introduced by Nguyen Thanh Trung – CEO of Sky Mavis in 2017, after he was attracted by the game CryptoKitties.

Previously, from 2012-2015, Nguyen Thanh Trung was the technical director of the startup Lozi (now LoShip).

In May 2021, Sky Mavis received a $7.5 million investment from Libertus Capital, the “Shark” hedge fund Mark Cuban, Alexis Ohanian, Reddit co-founder, and John Robinson, CEO act 100 Thieves…

Like other coins, the fact that Axie Infinity’s Token has a strong market capitalization in a short time is not a good signal to invest.

Previously, after peaking at $28/AXS on July 15, Axie Infinity once dropped deeply to $14/AXS. After reaching its highest value on July 24, the Axie Infinity coin is on a downward trend. Compared to when it peaked at $45.6/AXS, the digital currency has now lost about 9% of its value.

Currently, the law of Vietnam recognizes the trading of coins, so investors participating in transactions or depositing money into Axie Infinity to “plow coins” can be potentially risky.

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