{"id":242812,"date":"2022-06-26T01:00:57","date_gmt":"2022-06-25T19:30:57","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=242812"},"modified":"2022-06-25T18:19:00","modified_gmt":"2022-06-25T12:49:00","slug":"axs-ron-everything-you-need-to-know-about-proposed-refund-for-march-hack","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/axs-ron-everything-you-need-to-know-about-proposed-refund-for-march-hack\/","title":{"rendered":"AXS, RON- Everything you need to know about proposed refund for March hack"},"content":{"rendered":"

In March, <\/span>Sky Mavis Inc<\/span><\/a>. the developer of<\/span> Axie Infinity<\/span>, the popular play-to-earn blockchain gaming platform, was <\/span>hacked<\/span><\/a>. This hack led to the loss of over $600 million. A few days after the hack, Sky Mavis <\/span>informed<\/span><\/a> the gaming community and those that lost their funds that the company was \u201cfully committed to reimbursing our players as soon as possible.\u201d<\/span><\/p>\n

On 24 June, the chief operating officer of the gaming of Sky Mavis, Aleksander Leonard Larsen, in a<\/span> tweet<\/span><\/a>, confirmed to the members of the Axie Infinity community that refunds would be made to members who lost funds due to the March attack. He added that the <\/span>Ronin Bridge<\/span><\/a> breached during the attack would also be reopened next week.<\/span><\/p>\n

After the announcement, the price of Axie Infinity\u2019s AXS tokens immediately rallied by over 15%. Also, the price of Ronin Network\u2019s RON saw an intraday uptick of 17%.<\/span><\/p>\n

Still accruing gains at the time of writing, let\u2019s see how these tokens performed in the last 24 hours.<\/span><\/p>\n

Price performance in the last 24 hours\u00a0<\/b><\/h3>\n

At press time, the AXS token exchanged hands at $72.21 per piece. With a 16% intraday high during the trading session on 24 June and an 8% growth in price in the last 24 hours, investors were spotted capitalizing on the bull run that might follow the proposed refund and reopening of the Ronin Bridge.\u00a0<\/span><\/p>\n

With increased accumulation ongoing at press time, the Relative Strength Index was pegged at 53.26 in an uptrend. Also approaching the overbought territory, the Money Flow Index (MFI) marked a spot at 62 at the time of writing.\u00a0<\/span><\/p>\n

A look at the MACD showed that the AXS commenced another bull cycle on 20 June when the MACD line intersected the trend line in an upward direction.\u00a0<\/span><\/p>\n

\"\"<\/a>
Source: TradingView<\/figcaption><\/figure>\n

Seeing a 17% uptick in price during intraday trading on 24 June, the RON token retained most of its gains by press time. Trading at $0.3837 at the time of writing, the token was up by 15% in the last 24 hours. <\/span><\/p>\n

The RSI for this token was also spotted in an uptrend at 50 during press time. Although below the 50 neutral mark, the MFI maintained an uptrend movement at 44. A look at the MACD also showed that the token embarked on a bull cycle on 21 June.<\/span><\/p>\n

\"\"<\/a>
Source: TradingView<\/figcaption><\/figure>\n

On-chain analysis<\/b><\/h3>\n

Expectedly, after the announcement by <\/span>Larsen, the number of unique addresses involved in AXS transactions grew. According to Santiment, the active addresses that transacted AXS tokens on 24 June grew by over 250%. At the time of writing, this stood at 1086 addresses.<\/span><\/p>\n

\"\"<\/a>
Source: Santiment<\/figcaption><\/figure>\n

Furthermore, on 24 June, the number of new addresses created on the AXS network grew by over 100%.<\/span><\/p>\n

\"\"<\/a>
Source: Santiment<\/figcaption><\/figure>\n

On a social front, gains were also recorded. The social dominance for the AXS token grew by 90% in the last 24 hours. The social volume on the other hand declined by 51%.\u00a0\u00a0<\/span><\/p>\n

\"\"<\/a>
Source: Santiment<\/figcaption><\/figure>\n

The RON token also saw some traction on a social front on 24 June. Its social dominance metric rallied by a whopping 267%. The social volume also saw a 236% growth on the same day.<\/span><\/p>\n

\"\"<\/a>
Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

In March, Sky Mavis Inc. the developer of Axie Infinity, the popular play-to-earn blockchain gaming platform, was hacked. This hack led to the loss of over $600 million. A few days after the hack, Sky Mavis informed the gaming community and those that lost their funds that the company was \u201cfully committed to reimbursing ourContinue reading “AXS, RON- Everything you need to know about proposed refund for March hack”<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":242934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-242812","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nAXS, RON- Everything you need to know about proposed refund for March hack - AMBCrypto<\/title>\n<meta name=\"description\" content=\"In March, Sky Mavis Inc. the developer of Axie Infinity, the popular play-to-earn blockchain gaming platform, was hit with a hack\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/axs-ron-everything-you-need-to-know-about-proposed-refund-for-march-hack\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AXS, RON- Everything you need to know about proposed refund for March hack - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"In March, Sky Mavis Inc. the developer of Axie Infinity, the popular play-to-earn blockchain gaming platform, was hacked. 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