Can Axie Infinity extend 15% rally amid rising AXS network activity?
Axie Infinity's network activity surged as active addresses nearly doubled within 24 hours, driven largely by large holders controlling between 10,000 and 100,000 AXS tokens. This spike in participation, combined with strong trading activity and supply concentration, suggests accumulation rather than speculation. Despite a 15% price rally, short-term pullbacks are possible, but key on-chain metrics—including a rebound from oversold conditions on the Stochastic RSI—indicate underlying bullish intent. The dominance of large players supports the likelihood of continued upward momentum, pointing to a sustained bullish trend rather than short-term noise.
ambcrypto02/09 20:03
