Axie Infinity was one of the biggest gainers on Christmas, up 21% today and 51% over the past week.
This significant increase makes Axie Infinity the second highest gainer in the cryptocurrency market today, right behind ORDI.
The driving force behind this surge is the latest major game update that has the potential to attract more players. The main feature of this update is the evolution of Axies, which some users consider similar to Pokémon. Players can now evolve their Axies with more features and abilities.
This update process is more than just a cosmetic change, as it fundamentally changes the Axie Infinity economy. By allowing partial evolution, the game introduces a deflation mechanism that can reduce the overall Axie population, while also increasing the value of existing Axies and deepening the player’s connection to their digital peers.
In a broader context, several other gaming tokens saw notable gains during the Christmas week. Decentraland, the leading Metaverse cryptocurrency, has increased its value by more than 20% in the past week.
Likewise, The Sandbox saw a significant 25% increase in token value over the same period.