- Bitcoin, Ethereum, BNB, and XRP trade lower, showing broad selling across major cryptocurrencies.
- Axie Infinity defies the market, with AXS jumping 24% daily and over 100% weekly.
- Analysts warn AXS must break $3.86 or risk renewed volatility and possible 2026 decline.
The crypto market is facing strong selling pressure today, with most top coins trading in the red. Total market value has slipped to $3.02 trillion, down more than 3% in the last 24 hours.
How top coins are performing
- Bitcoin is trading near $89,000, down over 3% in a day
- Ethereum has fallen more than 6%, trading around $2,970
- BNB and XRP are also lower, with losses between 3% and 5%
Overall, the market is seeing broad weakness, and altcoins are struggling to attract buyers.
One Coin Defies the Trend: Axie Infinity (AXS)
While the rest of the market is down, Axie Infinity is moving against the trend. Its token AXS is up nearly 24% in 24 hours and more than 100% over the past week, making it one of the best-performing coins right now.
The market cap of AXS has jumped from around $230 million to over $500 million in just a few days. Trading volume has also exploded, and traders are now asking: Is gaming back?
Why is AXS going up?
Here are the main reasons behind the sudden rally,
1. Strong technical breakout
AXS broke above the important $2 price level, ending a long downtrend. This triggered short liquidations and pushed the price higher very quickly.
2. Tokenomics changes
Axie Infinity has reduced in-game rewards and paused some token emissions. This lowers selling pressure and helps control inflation. The launch of bAXS is also designed to reward active players and keep value inside the ecosystem.
3. New direction for 2026
Axie’s leadership has openly said that 2025 was too conservative and that 2026 will focus on bigger risks and bold moves. This message has helped bring attention back to the project.
What’s Next For AXS?
In the last 24 hours, AXS traded between a low of $1.90 and a high of $2.47. The token’s all-time high was $165.37 in November 2021, and it is now down over 98% from that peak.
One analyst warned that unless Axie Infinity (AXS) moves above $3.86, the price could remain volatile. If it fails to break that level, the next major move may send AXS down toward $0.50 later in 2026.
Related: Altcoins Season Slide in Early 2026 as Bitcoin Reclaims Market Lead
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Source: https://coinedition.com/axie-infinitys-axs-defying-24-rally-has-traders-asking-is-gaming-back/
