Axie Infinity (AXS) Up 80% After Migrating to Ronin Sidechain

Axie Infinity (AXS) Up 80% After Migrating to Ronin Sidechain

Non-fungible tokens were one of the hottest sectors of the cryptocurrency market from the beginning of the year through March, but as is the nature of the crypto sector, NFTs cooled significantly in April as the hype subsided and high fees for the (ETH) Network hampered the ability of buyers and sellers to interact with the logs.

The challenge of high fees eventually led some projects like Axie Infinity (AXS) and Smooth Love Potion (SLP) to migrate to other networks or adopt Layer 2 solutions to reduce costs. This move, along with a drastic reduction in ETH gas fees over the past two weeks, could be a reason for the strong rally in AXS and SLP last week.

AXS / USDT 4-hour chart. Source: TradingViewSLP / USDT 4 hour chart. Source: CoinGeckoVORTECS ™ Score (green) vs. AXS price. Source: Cointelegraph Markets Pro

Read on on Coin Telegraph

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