What is the reason for the price increase?
It is not entirely clear what exactly causes the price increase. However, we have of course seen the entire crypto market revive in recent weeks. And, especially metaverse related tokens (whatever Axie Infinity is), have experienced huge price increases.
Further, some analysts attribute Axie Infinty’s price hike to a possible announcement from the team. According to analyst Felix Hartman it is often the case that developer teams make an announcement during a major token unlock. Whether this will actually happen remains to be seen. So for now it seems that the price increase of Axie is mainly caused by speculation.