Axie Infinity Drops 22% Over The Week Amid Fears of Token Unlock

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The token underpinning the Axie Infinity gaming ecosystem, AXS, posted a new 52-week low of $8.58 earlier today, according to data from Coingecko. On a weekly note, AXS has lost nearly 22% of its value and is the biggest loser among the top 100 cryptocurrencies by market capitalization over the past seven days. Last week wiped almost $200 million from the token’s market capitalization. As of this writing, AXS has a market capitalization of $890 million, down from $1.13 billion just seven days ago. According to data from Coinglass, AXS futures positions totaling $5.1 million have been liquida ...

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