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Home»News»ApeCoin and Axie Infinity Ring Skyrocket 6% in the New Year: The Metaverse is Heating Up!
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ApeCoin and Axie Infinity Ring Skyrocket 6% in the New Year: The Metaverse is Heating Up!

Saheel KhirodkarBy Saheel KhirodkarJanuary 3, 2023Updated:January 3, 2023No Comments2 Mins Read
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ApeCoin (APE): the Web 3.0 tokenomics of BAYC NFT Project - Zipmex
The gaming industry’s giant Square Enix has increased its focus on blockchain while the metaverse and gaming tokens have had a successful start to the new year.

Cryptocurrencies with ties to the metaverse, such as ApeCoin (APE) and Axie Infinity (AXS), have seen price increases of about 6% over the past day.

According to CoinGecko data, APE is up 6.3% to $3.88, AXS is up 6.9% to $6.41, and SAND is up 5.2% to about $0.40 for Axie Infinity and The Sandbox, respectively. MANA, the currency of Decentraland, recorded more modest gains of 4.4% to reach about $0.31.

In contrast, the overall market capitalization of cryptocurrencies has only increased by about 1.6% over the past day.

The information was released shortly after the Special Council elections, in which five candidates were chosen to lead the ApeCoin project in the future. Yuga Labs, the company that created the Bored Ape Yacht Club, is the developer of Otherside, a metaverse project. Its utility and governance token is called ApeCoin.

In its annual New Year’s letter, video game publisher Square Enix also reaffirmed its dedication to blockchain and Web3 gaming.

The most recent good news for investors comes after a terrible 2022 for coins connected to the Metaverse; AXS and SAND were among the worst performers in what was a bad year for cryptocurrencies overall, losing approximately 93% of their value.

Altcoins ApeCoin Axie Infinity Metaverse
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Saheel Khirodkar
Saheel Khirodkar
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Saheel works as a content writer for Bitnewstoday. He has always been interested in journalism and enjoys writing. Furthermore, His interest lies in cryptocurrency, and is continuously seeking for new techniques to invest. In his free time, he enjoys staying up to date on the latest industry news and spending time with his family.

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