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Axie Infinity (AXS) rises 14% in 24 hours while a token unlock adds 5 million AXS, lifting circulating supply to 66.15%. See the price impact and upcoming
Axie Infinity’s governance token AXS surged 14% in the last 24 hours, reaching a price of about $48.80, even as a scheduled token unlock added roughly 5 million new coins and pushed the circulating supply from 64.34% to 66.15% of the total [2].
| At a glance | |
|---|---|
| Price | ~$48.80 |
| 24‑h change | +14% |
| Weekly change | +37% |
| Catalyst | 5 M‑token unlock raising circulation to 66.15% |
The unlock, slated for today, increased the on‑chain supply of AXS by about 5 million tokens, a modest rise compared with the previous supply level but enough to lift the circulating share by nearly 2 percentage points. Conventional market logic would suggest a price dip when new tokens appear, yet the opposite occurred, likely buoyed by the ongoing “Epic Era” two‑week event that offers a 33,600‑token prize pool to players [2]. The event may be attracting speculative buying despite the broader decline in active monthly users, which have fallen to roughly 432,000—the lowest since September 2020 [2].
AXS’s recent performance builds on a historic rally that saw the token climb more than 30,000% year‑to‑date in 2021, delivering a 300‑fold return for early‑year holders [1]. The game’s marketplace also crossed a $4 billion lifetime sales milestone, ranking third among NFT collections behind OpenSea and LookRare [3]. While the token’s price has fluctuated between $1.11 and $165.37 over the past year, the current $48.80 level sits near the upper half of that range [3]. The combination of a sizable sales volume, ongoing staking incentives, and the new Katana decentralized exchange adds layers of utility that may sustain demand even as supply expands [1].
The next scheduled unlock, larger than today’s, is set for April 23 and will raise circulating supply from 66.15% to 73.28% [2]. Such a jump will require a significant increase in demand to offset the dilution effect, especially given the modest user base and recent downward trend in active players.
The 14% rally amid a supply increase highlights the complex interplay between tokenomics and game‑driven incentives in Axie Infinity. Whether upcoming unlocks can be absorbed without a price correction will depend on the platform’s ability to grow its active player base and sustain on‑chain demand.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jun 23, 2026 · How we report
The game uses Axie Infinity Shards (AXS) as its primary token and Smooth Love Potion (SLP) as a secondary token.
The hack in March 2022 resulted in the loss of roughly $620 million in Ether and USDC, marking the largest cryptocurrency breach by dollar value and further depressing the value of SLP.
By mid‑2021, many players in the Philippines were treating the game as a main source of income, though earnings later fell below the national minimum wage and the income was deemed taxable.