Two emerging digital assets are raising eyebrows after rallying over 300% in 30 days amid sideways trading in much of the crypto markets.
One red-hot crypto asset as of late is blockchain-based trading and battling game Axie Infinity (AXS).
The game, which allows players to collect, breed, raise and trade creatures known as “Axies,” has surged from $4.10 on June 10th to its all-time high of $19.63 on July 10th, according to CoinGecko. The move represents a meteoric rise of over 378% in just 30 days.
Axie Infinity’s rally comes as the game soared to the top spot of the highest-grossing decentralized applications (DApps). In the last 30 days, the game generated $33.40 million in revenue, nearly three times the earnings posted by decentralized exchange PancakeSwap (CAKE), according to blockchain analytics platform Token Terminal.
The second fast-rising altcoin is Constellation (DAG). The Constellation protocol is designed to be a scalable distributed network that allows developers to build blockchains, mint crypto assets and build decentralized applications.
DAG skyrocketed over 352% in the last 30 days from $0.042 on June 10th to a new all-time high of $0.19 on July 10th, according to CoinGecko.
The crypto asset has risen along with the roll out of the automated market maker Lattice Exchange, which is built on Constellation’s Hypergraph network.
While both AXS and DAG have catapulted in value over the past month, the markets at large have a history of following Bitcoin’s ups and downs, and assets that rally forcefully can correct forcefully in the volatile and unpredictable crypto industry.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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