Staking Sends Axie to a New All-Time High ($AXS)

Axie Infinity ($AXS) is a revolutionary blockchain-based protocol that has successfully combined Ethereum NFTs with play-to-earn decentralized gaming mechanics.
LikeFolio first identified this breakout star in late July -- The price of AXS, the governance token of the Axie protocol, has soared more than +200% since then. Consumer Mentions of Axie Infinity, its associated NFT assets, and underlying tokens have leveled off from the explosive growth seen earlier this year, trending just +15% QoQ on a 7-day moving average.

However, AXS has been on a tear, up more than +100% in the past week and +30% in the past 24 hours…The reason for the parabolic growth? Axie recently announced staking rewards for AXS token holders.
With estimated staking rewards of +188% APR, this decision has generated a fresh wave of demand for AXS from the investment side.