- LayerZero surged on the February event hype despite Bitcoin staying below $90,000.
- Large ZRO token unlock was absorbed, showing strong demand from traders and institutions.
- Axie Infinity jumped after reward changes, reduced bots, and short-term selling pressure.
Two altcoins are standing out in an otherwise quiet crypto market: LayerZero and Axie Infinity. While Bitcoin remains below the $90,000 mark, both tokens posted sharp gains, driven by very different but equally powerful catalysts.
LayerZero Jumps on Event Hype and Strong Demand
LayerZero’s ZRO token climbed more than 20% in the last 24 hours, trading near $2.32. The move extends a strong run, with ZRO up over 42% in seven days and more than 80% in the past month.
The rally is largely driven by anticipation around a LayerZero ecosystem event scheduled for February 10, 2026. Derivatives activity also picked up, with futures open interest jumping more than 30% and short liquidations adding fuel to the move.
What’s interesting is that the surge comes despite a major supply unlock. About 25.7 million ZRO tokens, roughly 6% of the circulating supply, were unlocked earlier this week, alongside a $98 million transfer to custodian BitGo.
LayerZero’s recent integration with Starknet, which connects it to over 160 blockchain ecosystems, has added to longer-term optimism.
A crypto analyst, Jonathan Carter, said ZRO has confirmed a falling wedge breakout on the three-day chart. According to the analyst, the breakout structure remains intact, with upside targets lined up at $2.40, $3.30, $4.80, and $7.00.
Axie Infinity Surges After Major Reward Changes
At the same time, Axie Infinity’s AXS token rose about 9% in the past 24 hours, extending a massive seven-day rally of nearly 140%. The gains come after a big shift in how rewards work inside the Axie ecosystem.
Developer Sky Mavis replaced tradable AXS rewards with bAXS, a non-transferable, bonded version of the token. The change is aimed at cutting down bot activity and short-term farming, which had created constant selling pressure.
By making rewards account-bound and linking selling fees to player reputation, Sky Mavis effectively tightened supply overnight. Experts see this as a potential supply shock, which helped push prices higher.
One analyst said AXS is showing signs of accumulation, with the price holding well near its daily average and strong buying seen around the $2.50 level. As long as AXS stays above the $2.46–$2.50 support range, the outlook remains bullish. The next level bulls will be targeting sits at $3.
Related: Tokenized RWAs Hit $21B TVL as U.S. Treasuries Dominate
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