In March, Sky Mavis Inc. the developer of Axie Infinity, the favored play-to-earn blockchain gaming platform, was hacked. This hack led to the lack of over $600 million. Just a few days after the hack, Sky Mavis informed the gaming neighborhood and people who misplaced their funds that the corporate was “totally dedicated to reimbursing our gamers as quickly as attainable.”
On 24 June, the chief working officer of the gaming of Sky Mavis, Aleksander Leonard Larsen, in a tweet, confirmed to the members of the Axie Infinity neighborhood that refunds could be made to members who misplaced funds as a result of March assault. He added that the Ronin Bridge breached through the assault would even be reopened subsequent week.
After the announcement, the worth of Axie Infinity’s AXS tokens instantly rallied by over 15%. Additionally, the worth of Ronin Community’s RON noticed an intraday uptick of 17%.
Nonetheless accruing features on the time of writing, let’s see how these tokens carried out within the final 24 hours.
Value efficiency within the final 24 hours
At press time, the AXS token exchanged arms at $72.21 per piece. With a 16% intraday excessive through the buying and selling session on 24 June and an 8% development in value within the final 24 hours, traders have been noticed capitalizing on the bull run that may comply with the proposed refund and reopening of the Ronin Bridge.
With elevated accumulation ongoing at press time, the Relative Energy Index was pegged at 53.26 in an uptrend. Additionally approaching the overbought territory, the Cash Movement Index (MFI) marked a spot at 62 on the time of writing.
A have a look at the MACD confirmed that the AXS commenced one other bull cycle on 20 June when the MACD line intersected the development line in an upward route.
![](https://files.ambcrypto.com/wp-content/uploads/2022/06/25124401/AXSUSDT_2022-06-25_08-13-51.png)
Supply: TradingView
Seeing a 17% uptick in value throughout intraday buying and selling on 24 June, the RON token retained most of its features by press time. Buying and selling at $0.3837 on the time of writing, the token was up by 15% within the final 24 hours.
The RSI for this token was additionally noticed in an uptrend at 50 throughout press time. Though under the 50 impartial mark, the MFI maintained an uptrend motion at 44. A have a look at the MACD additionally confirmed that the token launched into a bull cycle on 21 June.
![](https://files.ambcrypto.com/wp-content/uploads/2022/06/25125803/RONUSDT_2022-06-25_08-26-20.png)
Supply: TradingView
On-chain evaluation
Expectedly, after the announcement by Larsen, the variety of distinctive addresses concerned in AXS transactions grew. In accordance with Santiment, the energetic addresses that transacted AXS tokens on 24 June grew by over 250%. On the time of writing, this stood at 1086 addresses.
![](https://files.ambcrypto.com/wp-content/uploads/2022/06/25130815/Axie-Infinity-AXS-08.37.25-25-Jun-2022.png)
Supply: Santiment
Moreover, on 24 June, the variety of new addresses created on the AXS community grew by over 100%.
![](https://files.ambcrypto.com/wp-content/uploads/2022/06/25131033/Axie-Infinity-AXS-08.40.07-25-Jun-2022.png)
Supply: Santiment
On a social entrance, features have been additionally recorded. The social dominance for the AXS token grew by 90% within the final 24 hours. The social quantity alternatively declined by 51%.
![](https://files.ambcrypto.com/wp-content/uploads/2022/06/25131624/Axie-Infinity-AXS-08.46.14-25-Jun-2022.png)
Supply: Santiment
The RON token additionally noticed some traction on a social entrance on 24 June. Its social dominance metric rallied by a whopping 267%. The social quantity additionally noticed a 236% development on the identical day.
![](https://files.ambcrypto.com/wp-content/uploads/2022/06/25131933/Ronin-RON-08.49.14-25-Jun-2022.png)
Supply: Santiment