Axie Infinity surges 23% with trading volume up 630%, signaling strong market recovery.

Axie Infinity (AXS) experienced a sharp 23.13% price increase alongside a 630.63% rise in trading volume, reaching $127.54 million. This surge reflects renewed market confidence after weeks of weak performance, supported by a 91.02% jump in derivatives Open Interest to $38.64 million, indicating new speculative positions. On-chain data showed a 29.27% drop in exchange-held AXS tokens, suggesting holders are moving assets off exchanges, reducing immediate sell pressure. Technical indicators and a breakout above a descending channel point to potential further gains, with $1.203 as the next resistance level to watch.