Axie Infinity’s on-chain activity just lit up: active AXS addresses almost doubled in the past 24 hours, and most of the trading action is being driven by large holders — a combination that’s helping fuel a fresh price rally.
Santiment’s data shows a sharp jump in active addresses on the Axie network, a move that looks less like a slow buildup and more like a sudden influx of participation. That uptick can mean two things: retail traders are rotating back in, or bigger players are repositioning for a larger move. In this case, the balance of evidence points to the latter.
Wallets holding between 10,000 and 100,000 AXS accounted for the bulk of trading volume during the surge. When supply concentration rises alongside address growth, it often signals deliberate accumulation rather than speculative, short-term chasing. Large holders tend to trade with intent, and their increased activity suggests growing confidence in current price levels.
Price action has followed suit: AXS climbed more than 15% at time of writing. Technicals add some nuance — the Stochastic RSI recently bounced out of an oversold zone, supporting the idea that momentum could continue. That said, near-term pullbacks or short consolidations remain possible and wouldn’t necessarily derail the broader bullish case.
Put together, the surge in active addresses, the heavy weighting of large-holder trades, and heightened trading volume build a compelling picture for continued upside — provided the big players keep leading the charge. In short, Axie Infinity’s rally looks backed by on-chain intent, and intent often precedes further extension.
Sources: Santiment, TradingView
Disclaimer: This article is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making financial decisions.
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