An official notice about moving funds within a limited time window: two days later, it “blew out” a $260,000 short position. Is it truly that they’re about to run, or a shell game used to hype the market?
On October 2, Axie Infinity issued a notice requiring users of keyless, MPC, and socially logged-in wallets to move their assets out of the Ronin Waypoint by October 16, otherwise they might be unable to move them. This has nothing to do with AXS supply, dividends, or demand—it's written very clearly by the official. It also provides two migration paths, and users with seed-phrase wallets are completely unaffected. This is purely a wallet infrastructure upgrade.
Two days later, the price moved first. On October 4, AXS surged straight to $1.37—up 13.5% in 24 hours. It touched $1.46 intraday. Over the past 7 days it was up 17%, and over 30 days up 48%. Discussion volume spiked to 6.7 times the 5-day average, but don’t get the order wrong—price rose first, and shorts couldn’t hold on, leading to liquidation. In 24 hours, $420,000 was liquidated: shorts accounted for $260,000, longs only $160,000. Only after the shorts blew up did discussion volume follow—discussion didn’t heat up first and then push the price higher.
The Origins S19 announced on September 30 actually delivers real goods—80,000 bAXS distributed to the first 2,000 players, plus an additional 10,000 bAXS blind-box pool. In-game engagement is tangible. But bAXS can’t be transferred. That prize pool size can’t unlock AXS’s circulating supply, so it has no direct link to this price eruption.
This short-term move is likely to retrace—there’s no avoiding it. The migration deadline doesn’t create new demand, the rewards pool can’t be cashed out, and the surge in discussion came only after the price had already risen and after the shorts had been liquidated. There’s only one possible way to reverse the trend: if genuinely new capital keeps accumulating above $1.3 continuously, turning this short-squeeze situation into a sustained trend reversal—then, and only then. Not yet.
$AXS #Ronin #GameFi