Axie Infinity Tokens Keep Going Up Ahead of Token Unlock Today
Crypto play-to-earn game Axie Infinity (CRYPTO: AXS) has seen its tokens go up about 14% over the past 24 hours, as of 9:30 a.m. ET on Monday morning. Moreover, Axie Infinity tokens are up about 37% over just the past week, according to data from CoinMarketCap. And the timing of these big gains couldn't be more unusual.
Axie Infinity is scheduled to have a token unlock today. And you'd expect this to have the opposite effect on the price of Axie Infinity tokens.
According to its white paper -- the document that explains how it all works -- new Axie Infinity tokens are set to be unlocked at a regular schedule. Today's unlock event will add about 5 million tokens to the circulating supply, taking Axie Infinity's supply from 64.34% in circulation to 66.15% in circulation.
Source Fool.com
