Axie Infinity’s AXS token is up almost 200% in the past month amid the launch of bAXS, an app-based version of the AXS token.
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Axie Infinity’s AXS token jumped nearly 9% in the past 24 hours and is up more than 200% over the last 30 days. Price is trading near $2.53 at the time of writing as AXS remains down roughly 98% from its all-time high near $165.

Also, CoinGlass data shows AXS futures open interest rising to $189.52 million over the weekend, up from less than $14 million on January 1. At the time of writing, open interest remains elevated near $174.23 million, levels last seen in May 2022.

The rally marks one of the strongest GameFi moves of the year so far. After months of low volume and persistent sell pressure, AXS is now once again back making headlines.

bAXS Announcement

The rally follows an earlier announcement from Axie Infinity founder Jeffrey Zirlin, who revealed bAXS, an app-based version of the AXS token that will replace AXS across gameplay rewards and ecosystem activity.

https://twitter.com/Jihoz_Axie/status/2011338453385113939

The new bAXS token introduces a variable sell fee paid to the Axie treasury. The fee scales down for users with higher Axie scores, directly incentivizing long-term engagement while discouraging short-term selling.

At the same time, Axie halted SLP reward emissions which removed a major source of constant token inflation. Together, these changes reduced short-term supply pressure and locked a portion of circulating tokens.

AXS Breaks Out from Long-Term Base

On the daily chart, analysts point out that AXS has completed a clear cup-and-handle structure after sweeping downside liquidity below the $2 region. Price has reclaimed the 200-day EMA near $1.80 and is holding above the $2.25 resistance, now acting as support.

$AXS perfectly Cup and Handle chart pattern made at 1D timeframe and downside liquidity swept now moving to the upside my target will be 3.5$ $AXS #AXS #CryptoCommunity pic.twitter.com/ht4tmuE6xh

— AH (@CCR028) January 26, 2026

Additionally, the Relative Strength Index (RSI) has pushed above 60 after spending months in bearish territory. Volume expanded sharply during the breakout, confirming increased demand for the token.

The next upside resistance sits near $3.50, the measured move target from the cup-and-handle pattern. This level is also a prior distribution zone from mid-2022. A clean break above $3 would keep bullish control intact.

On the other hand, failure to hold the $2.25-$2.30 zone would open the door to consolidation. Below that, the 200-day EMA near $1.80 remains the key level bulls need to defend to avoid a deeper reset.

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