Axie Infinity Hits $62 As The Altcoin Market cap Crosses $1 Trillion

The 32nd coin according to market cap Coinmarketcap surged by more than 40% in the past hour. The 40% increase during the last one hour ensured AXS hit a new all-time high. As of the time of writing, the AXS/USD pair ATH is $62.9. Axie Infinity reached the milestone as its trading volume quadrupled as the volume increased by 420%.

The surge could be traced back to last week Wednesday when the AXS/USD pair rose to as much as $44.96 following a 16.4% price hike. The 16% increase was a hint to the upcoming rally as the day started with prices trading at $38. Although, the $44 mark was within the $36-$56 since AXS succeeded in this market the buyers continually rallied the coin ensuring the $40 support holds.

The Alts Market Is Bullish

Some other altcoins are bullish resulting in the total market being over $1 trillion as of the time of writing. Some of these coins include IoTex. The 116th coin by market cap also enjoyed an almost 50% price increase in the last five hours as it also rose to its all-time high. As at this time, the IOTX/USDT pair reached an ATH of $0.0557. Over the last 24 hours, IOTX gained 82%.

The MINA/USD pair also enjoyed a 30% in the early parts of the last 12 hours. The coin received a lot of attention from traders as its trading volume increased by more than 1000% in the last 24 hours. The 106th coin was very volatile during the past as it records an intraday high of $3.5 and a low of $2.4.

QuickSwap also contributed to the total altcoin market as it has been making quick gains during the last 24 hours. The QUICK/BUSD pair took a 40% jump during the last intraday session. The 331st coin by market cap experienced a 38% hike during the past 24 hours.

The altcoins are all gearing up for the second phase of the bullish run. We will continue to see its market cap dwindle or increase by 10% in the following weeks.