Axie Infinity (AXS) price reverses course with 50%+ gain ahead of Origin launch
Play-to-earn (P2E) gaming was one of the hottest sectors in the cryptocurrency market in 2021 and based off the recent moves of Yuga Labs and Bored Ape Yacht Club, the gaming industry could continue to be a winner in 2022.
Axie Infinity was the first game to really capture widespread attention and highlight the possibilities of what P2E had to offer and it is continuing to lead the way in 2022 as the protocol prepares for its next major launch.
Data from Cointelegraph Markets Pro and TradingView shows that the price of AXS increased 56.5% over the past ten days as an increase in its 24-hour trading volume has lifted AXS to a daily high of $69.82 on March 24.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for AXS on March 14, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS™ Score for AXS climbed into the green on March 14 and hit a high of 78 around 24 hours before the price began to increase 52.32% over the next nine days.
Three reasons for the climbing price of AXS are the upcoming launch of Axie Infinity: Origin, the steady increase of active users and AXS stakers, and the rising popularity of the Ronin sidechain, which enables Axie Infinity gameplay.
The most significant development underway helping to boost the forward outlook for AXS is the upcoming launch of Axie Infinity: Origin, which is expected to take place in the coming weeks.
To clarify, we're still aiming to get Origin out by end of the month. It's cutting
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