Axie Infinity surprised the market with a sharp move up.

The price of AXS jumped more than 20% in just 24 hours. It reached around $1.57. This rise was much stronger than Bitcoin’s gains during the same time.

One big reason behind the move is a new airdrop announcement.

Axie Infinity’s developer, Sky Mavis, revealed an upcoming bAXS token airdrop. A total of 100,000 bAXS tokens will be given out. Only wallets that staked at least 10 AXS were eligible. The snapshot for this airdrop was taken on February 5. The amount each wallet receives depends on how much AXS was staked and the user’s Axie Score.

Each bAXS token is backed one to one by AXS. On average, the airdrop is worth about $16.90 per qualifying wallet.

bAXS is different from regular AXS. It is meant to be used inside the game. Players can use it for breeding Axies, evolving them, and buying items on the marketplace. Sky Mavis wants players to spend and use the token instead of just trading it. The goal is to boost real activity inside the Axie ecosystem.

Upcoming game content is also adding excitement. The Terrariums land based game and the future expansion called Atia’s Legacy are expected to increase demand for bAXS. Players will need it for power ups, consumables, and other in game items.

Another reason for the price jump is technical. AXS was heavily oversold before the rally. Its 7 day RSI dropped to around 27.79. This often signals that selling has gone too far.

Traders reacted fast. Buying picked up quickly and trading volume jumped by more than 200% in a single day. Total volume reached nearly $186 million.

There was no major partnership news or viral announcement. This suggests the move was driven mainly by technical factors and short term trader interest.

Looking ahead, some price levels matter.

Support is sitting near $1.44. This level needs to hold for the bounce to continue. If it breaks, the price could slide back toward $0.90. On the upside, resistance is near $1.77 and then around $1.93. A move above these levels would signal stronger confidence in the rally.

For now, AXS is seeing fresh attention after a long period of weakness. Whether this move lasts depends on how buyers behave in the coming days.