Axie Infinity reopens Ronin Bridge after audits but here’s the problem - Aliens: AI Crypto News & Markets Updates
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Axie Infinity reopens Ronin Bridge after audits but here’s the problem

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AMB Crypto

Wed, Jun 29, 2022

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Aliens TLDR

Axie Infinity has announced the official re-launch of the Ronin Bridge, enabling the transfer of funds to and from the Ronin network.

AXS trading volumes increased significantly in the last two months, as investors sold off their holdings due to the market crash.

Furthermore, AXS traded at $15.05 at press time after dropping from a weekly high of $18.53.

AXS bulls have been gaining momentum since mid-June, as shown by the MFI.

On-chain metrics, like exchange inflows and outflows, confirm that AXS holders shifted their holdings to exchanges.

Addresses holding between 100,000 and one million AXS grew from 9.78% on 26 June to 9.88% on 29 June.

Addresses holding between one million and 10 million AXS barely saw any changes in the last four days.

The balance on addresses holding over 10 million AXS saw a slight marginal drop, contributing to the selling pressure.

Addresses holding between 10,000 and 100,000 coins dropped from 6.99% on 26 June to 6.92% by 29 June.

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