The Axie Infinity Token has grown 145 percent in the past two weeks and has now reached its all-time high of $ 118. Experts believe that the jump in the price of this digital currency had three main reasons.
to the Report The Coin Telegraph, the Airdrop, or free distribution of digital currencies, has acted as the driver of this ecosystem over the past few years. Protocols such as Uniswap and dYdX, which rewarded their first investors and users by distributing tokens, prove this. The current value of the tokens that these two decentralized exchanges have rewarded their users is between $ 30,000 and $ 2 million.
The latest protocol that has surprised its users with a wallet full of rewards is Oxy Infinity. Oxy Infiniti is a blockchain-based game that was welcomed by users in 2021 and introduced its name as a “game to earn money” model.
Market data show that since September 21 (September 30), when Oxy Infiniti reached $ 47.92, the price of this digital currency has increased by 145% and has reached a new record, reaching $ 118. The volume of 24-hour transactions of this digital currency has increased from $ 421 million to $ 1.95 billion.
Increased shareholding opportunities for Oxy Infiniti tokens, rewards for early acceptors as AirDrop, and increased popularity of monetized game protocols are three of the main reasons for the increase in Oxy Infiniti prices over the past two weeks, each of which we will examine below. .
Also read: Axie Infinity; A platform to play and earn money in the digital world
Added the ability to share to the Oxyinfinity protocol
The growth of decentralized finance (DeFi) in 2021 has drawn attention to the fact that holders of digital currencies can also earn money by providing liquidity or equity.
The Oxy Infiniti team announced on September 30th (September 8th) that it has added a share capability to its protocol to gain a stake in decentralized finance as well as improve the token’s overall economic condition. This has excited members of the Oxy Infiniti community, and the holders of this digital currency have invested nearly 9.8 million tokens in the last two days alone.
Now they are not the only simple Oxy Infiniti users who have entered the stock market. Recent tweets show that other gaming platforms active in the digital currency ecosystem, including Yield Guild Games, have also announced that they are sharing their Infiniti tokens as a way to help increase the value of their ecosystem.
Yild Guild Games tweeted:
We are currently investing a total of $ 16.45 million in our Oxyinfinity reserves and expect significant dividends.
Oxy Infiniti currently offers 240% annual dividends to shareholders, and these rewards come from the $ 78.3 million Oxy Infiniti token reserve set aside by the protocol development team.
Free distribution of tokens among primary recipients
The second reason for the increase in price and activity in the oxyinfinity market was the bonuses that were distributed among the users of this protocol. In this airdrop, users who interacted with the Oxyinfinity protocol before October 26, 2020 (November 26, 1999) received some tokens as a reward.
An Oxy Infiniti user, nicknamed Artic, tweeted:
Thank you Oxy Infinity! I received 4,905 AXS tokens, which is much more valuable than what I had last year. Membership in the Oxy Infinity community is a very valuable experience socially, spiritually and financially.
According to the Oxy Infiniti team, 10,000 wallets were selected based on the image taken on October 26, 2020, to receive a share of the AirDrop 800,000 tokens reward, depending on the activity level of each address.
More active users, such as Artic, are more rewarded with a current value of $ 500,000, but less active user accounts are less rewarded. These rewards are still significant in terms of dollar value, especially given the fact that many Oxyinfiniti users live in economically disadvantaged areas of the world.
Increase the popularity of monetized games
Another reason for the recent rise in the price of Oxy Infiniti is the popularity of the game model for monetization, which many analysts believe will grow significantly in 2021.
Oxy Infinity is actually the game that boosted the monetized games market earlier this year. The move eventually led to the growth of other protocols in the field, such as Illuvium, Chain Guardians, and MyNeighborAlice.
Recognizing the benefits of games that reward users for their participation, the growth of the revenue-generating games segment in the digital currency ecosystem has accelerated in recent months. Unlike the standard free games model, which offers in-app purchases and leaves users after months of playing and investing.
The data show that the market conditions of Oxy Infiniti seemed favorable a few days before the price jump.
As can be seen from the chart above, the OX Infinity VORTECS Score entered the dark green zone on September 26 (October 4) and peaked 35 hours before the price of this digital currency rose 55% in 3 days. Level 87 has been reached.
NewsQuake, one of the Telegraph’s special services, recorded two important news items before the price increase, including the listing of Oxy Infiniti in the Bitstamp exchange and the addition of a share option to the digital currency protocol.