Cryptocurrencies Price Prediction: Axie Infinity, Chiliz & Hyperliquid — Asian Wrap 27 January

Axie Infinity Price Forecast: AXS rallies as bAXS token reveal boosts retail demand

Axie Infinity is up 3% at press time on Tuesday, extending the 21% gains from Monday and a bullish start to the week. The gaming token regains retail demand following the announcement of its app token, bAXS, to replace the AXS token across the ecosystem and gameplay rewards. This surge in retail demand pumps the AXS futures Open Interest to a three-year high.

Top Crypto Gainers: Hyperliquid, River, and Chiliz extend gains with a momentum surge

Chiliz rebounds from the $0.050 psychological level at the start of this week, signaling a fresh recovery. At the time of writing, CHZ is up over 4% on Tuesday, extending the 10% gains from Monday. The recovery in CHZ would likely test the $0.064 peak from January 17, and a decisive close above it would open the door toward the $0.073 level, marked by the December 20 low.

HYPE sees double-digit gains as commodities trading on Hyperliquid surges to new highs

Hyperliquid's (HYPE) HIP-3 decentralized exchanges recorded a new milestone, with their open interest rising to a new high of $790 million, the platform noted in an X post on Monday. The figure represents over 200% growth in the past month, but it remains a fraction of Hyperliquid's $8 billion open interest across all markets. Open interest is the total worth of outstanding contracts in a derivatives market.