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First Mover Americas: Axie Infinity's Token Takes Off
The latest price moves in crypto markets in context for Dec. 5, 2022.
Updated Mar 3, 2023, 7:01 p.m. Published Dec 5, 2022, 1:34 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
CoinDesk Market Index (CMI) 868.31 +0.7 ▲ 0.1% Bitcoin $17,076 −42.2 ▼ 0.2% Ethereum $1,267 −3.5 ▼ 0.3% S&P 500 futures 4,007.50 −68.0 ▼ 1.7% FTSE 100 7,567.54 +11.3 ▲ 0.2% Treasury Yield 10 Years 3.59% ▲ 0.1 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
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Metaverse- and non-fungible token (NFTs)-focused tokens are surging, with Axie Infinity’s AXS leading the way. The play-to-earn game’s token, AXS, has surged 20% over the past 24 hours. AXS’ jump comes along with an increase in sales volume over the past 24 hours, according to data from CryptoSlam. Axie also announced Monday that it has selected a team of 700 community members to help build out the future of Axie Infinity. The Sandbox’s SAND token has also posted a large gain, up 7% on the day.
Genesis creditor groups’ loans total $1.8 billion, according to a person familiar with the matter. In addition to the previously reported group of Gemini customers owed $900 million through its Gemini’s Earn program, which is tied to Genesis, a second group of assorted Genesis creditors, with loans also amounting to $900 million, is being represented by law firm Proskauer Rose, a second source told CoinDesk. Genesis and CoinDesk are both owned by crypto conglomerate Digital Currency Group.
Crypto exchange Bybit is the latest company to announce layoffs amid the crypto winter. The exchange will implement another round of job cuts as it tries to refocus its operations amid a "deepening bear market," CEO Ben Zhou announced on Sunday in a Twitter post. The layoffs will affect 30% of staff. Bybit previously announced layoffs in June. Australian crypto exchange Swyftx also announced on Monday it has cut 90 jobs, citing the crypto downturn.
Chart of the Day
- The chart shows CHZ, the native cryptocurrency of Chiliz blockchain that powers the largest sports fan token creator platform Socios.com, has declined over 35% since the beginning of the FIFA World Cup on Nov. 20.
- The pullback is typical of a "buy the rumor, sell the news" trade.
- CHZ rallied sharply in the lead-up to the World Cup, defying broader market weakness as soccer fans poured money into the fan tokens.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Filecoin Trades Little Changed, Underperforms Wider Crypto Markets
The token has major support at the $1.36 level and resistance at $1.40.
What to know:
- Filecoin slipped 0.2% to $1.37 over the last 24 hours.
- Trading volume was 29% above weekly averages as institutional flows accelerated.
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