Axie Infinity Game Appears on App Store ─ Tokens Soar 12% | coindesk JAPAN

Cryptocurrency of P2E (Play to Earn) game Axie Infinity (AXS) announced that CoinDesk has announced that its card-based strategy game has debuted on Apple’s App Store. It rose after reporting.

AXS jumped more than 12% from $7.16 to $8.04 after the news, topping the CoinDesk Indices leaderboard. At the time of writing, AXS posted its highest daily gain since January 22nd. The crypto asset fell more than 3% in April, marking its third consecutive month of declines amid token unlocking and overall market de-risking.

Axie Infinity (AXS) Tops CoinDesk Indices Leaderboard (CoinDesk Indices)

Initially, iPhone users in Latin America and select Asian countries, including Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia and Vietnam, will have access to Axie Infinity’s card-based game. The game already has 1.5 million installs across all platforms. The creator of the P2E project, Sky Mavis, plans to expand the reach of the game through Google and Apple mobile users.

Rapid increase in open interest

As the AXS price increased, there was a sharp increase in notional futures open interest, or dollars locked in outstanding futures contracts. This is an indication of the influx of new funds into the market.

Estimated open interest rose from about $40 million a day earlier to more than $75 million, the highest since February, according to CoinGlass. bottom.

However, as funding rates remained negative in the perpetual futures market, leverage appeared skewed to the bearish side. Negative values ​​indicate that the market is dominated by bearish short positions.

Investors likely shorted perpetual futures contracts to protect their long spot market positions from a price plunge, reflecting a lack of confidence in the sustainability of price gains.

Chart showing AXS funding rate plummeting below zero as price rises (Coinglass)

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
| Image: CoinDesk Indices
｜Original: Axie Infinity’s Token Jumps 12% After Firm Lists Game on Apple App Store