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First Mover Americas: Axie Infinity's Token Is Soaring
The latest price moves in crypto markets in context for Jan. 23, 2023.
Updated Jan 23, 2023, 1:21 p.m. Published Jan 23, 2023, 1:18 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.
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CoinDesk Market Index (CMI) 1,087 +10.0 ▲ 0.9% Bitcoin $22,872 +118.7 ▲ 0.5% Ethereum $1,633 +9.1 ▲ 0.6% S&P 500 futures 3,985.75 −2.8 ▼ 0.1% FTSE 100 7,794.07 +23.5 ▲ 0.3% Treasury Yield 10 Years 3.48% ▲ 0.1 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
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Online game Axie Infinity's AXS cryptocurrency has rallied 40% over the past 24 hours to a four-month high of $13.94 despite the impending unlocking of millions of dollars’ worth of the tokens. Meanwhile, layer 1 blockchain Aptos’ APT tokens are up 250% over the past 14 days. The price of APT traded just shy of $13 on Monday, up from last week’s $7 and from a low of $3 in November, according to CoinDesk data. NFT (non-fungible token) markets on Aptos appear to have contributed to the growth. Data from Aptos NFT marketplace Topaz show collections such as Aptomingos – a set of comic flamingos – and Aptos Monkeys attracted tens of thousands of dollars in trading volume in the past 24 hours. Aptos was founded by former employees of Facebook parent Meta Platforms (META). Bitcoin was up slightly on the day, trading at $22,900 after briefly reaching $23,000 on Sunday.
Crypto lender Genesis Global Capital’s first-day hearing in its Chapter 11 bankruptcy case will take place on Monday, according to court filings. Genesis’ trading arm, which remained out of Chapter 11, is still moving money around on exchanges – a sign the business is running at least somewhat as normal. About $125 million was sent to exchanges in the run-up to Genesis’ lending division filing for Chapter 11. A wallet controlled by Genesis’ over-the-counter trading desk sent about $125 million of ETH, FTM and USDT to Coinbase (COIN), Binance, Bitstamp and Kraken on Thursday. CoinDesk and Genesis are both owned by Digital Currency Group.
Signature Bank won’t handle transactions of less than $100,000 for crypto-exchange customers starting on Feb. 1, according to a statement from Binance. The exchange said in the statement emailed to CoinDesk that Signature had also told Binance that the minimum would apply to customers of all other crypto exchanges, as well.
Chart of the Day
- The CME's FedWatch tool shows markets are certain the Federal Reserve will take another step down in its pace of its interest rate hikes.
- Monday morning's market pricing showed a 100% probability that the Fed would deliver an increase of 25 basis points on Feb. 1, lifting the benchmark borrowing rate to 4.5%-4.75%.
- The central bank slowed the pace of rate hikes to 50 basis points last month, offering relief to battered risky assets, including cryptocurrencies. The Fed had lifted its benchmark rate by 75 points in each of its previous four meetings.
– Omkar Godbole
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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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XRP Faces Downside Risk as Social Sentiment Turns Wildly Negative
The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside if risk appetite weakens across majors.
What to know:
- XRP's price approached the $2 mark as social sentiment around the token turned sharply negative, according to Santiment data.
- The token has experienced a 31% decline over two months, making it vulnerable to further losses if market risk appetite weakens.
- Santiment's sentiment model indicates XRP is in a 'fear zone,' where negative commentary significantly outweighs positive talk, potentially influencing market positioning.
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