The two altcoins attracted attention, rising over 300% in 30 days as the cryptocurrency market exhibited sideways movement.
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The first of these is Axie Infinity (AXS), a very popular blockchain-based trading and war game recently.
According to CoinGecko, players Axies The game, which allows him to collect, create, upgrade and trade creatures known as the knights, hit a big break, rising from $4.10 on June 10 to an all-time high of $19.63 on July 10. The altcoin has gained over 378% in just 30 days.
Axie Infinity’s rally comes after the game has risen to the top positions of the highest-grossing decentralized applications (DApps). According to blockchain analytics platform Token Terminal, in the past 30 days, the game has generated $33.40 million in revenue, nearly three times the earnings announced by decentralized exchange PancakeSwap (CAKE).
The second altcoin that showed a dramatic increase was the Constellation (DAG) protocol. The project is designed to be a scalable distributed network that allows developers to build blockchains, print crypto assets and build decentralized applications.
According to CoinGecko, the DAG was trading at $0.042 on June 10, gaining over 352% in the past 30 days, hitting an all-time high of $0.19 on July 10. The altcoin rose with the launch of the automated market maker Lattice Exchange, built on Constellation’s Hypergraph network.
While both AXS and DAG capitulated last month, the markets in general are following Bitcoin’s ups and downs. Assets that rise rapidly in an unpredictable and volatile cryptocurrency market can quickly undergo a downward correction.