Axie Infinity of Vietnamese people continues to set new peaks with a market capitalization of 7 billion USD

After nearly a month in the red, the virtual currency market has gradually recovered when the Chairman of the US Federal Reserve (Fed) Jerome Powell made a point of not banning virtual currencies yesterday.

Reacting to this statement, Bitcoin immediately increased from 44,000 USD to 47,000 USD, followed by the rise of a series of other alternative virtual currencies (altcoins) such as Ethereum (10%), Binance Coin (8.5%). Solana (14.8%)…

Bitcoin spiked again followed by the recovery of the virtual currency market.

However, while altcoins have only increased in a range of 5-15%, a Vietnamese virtual currency, Axie Infinity Shards (AXS) has skyrocketed in value by 50%. From $78, AXS quickly set a new peak of nearly $120 after only half a day with a market capitalization of $7.3 billion.

The value of AXS coin then dropped slightly to $113 with a market capitalization of only $6.8 billion, but still quite high compared to the old peak made in early September.

The skyrocketing AXS coin is believed to come from the developer Sky Mavis opening a virtual money deposit system for interest (staking). After just one day of announcement, nearly 10 million AXS coins were deposited into the system with a value of more than 1.1 billion USD.

AXS coin skyrocketed after only half a day when the virtual money deposit system for interest was officially put into operation.

Because anyone who owns AXS coin can also deposit interest, it does not exclude the possibility that Sky Mavis developer also deposits a certain amount to attract investors.

With a new AXS allotment to be unlocked next month (12 months after the first listing date), the game development team will be rewarded with another 5.7 million AXS coins, equivalent to a value of approximately 640 million USD based on the current AXS exchange rate.

In case the value of the AXS coin continues to fly as high as it is today, it is very likely that the world will soon have the first USD billionaire in history thanks to the blockchain game.