LayerZero and Axie Infinity tokens jump as crypto market stays largely flat

LayerZero’s ZRO rose more than 20% over 24 hours to about $2.32, extending gains of more than 42% over seven days and more than 80% over the past month, according to the figures cited in the report. The move coincided with anticipation for a LayerZero ecosystem event scheduled for 10 February 2026, alongside a pickup in derivatives activity, with futures open interest up more than 30% and short liquidations contributing to the advance.

The rally followed a supply increase after about 25.7 million ZRO tokens, roughly 6% of the circulating supply, were unlocked, and the report cited a $98 million transfer to custodian BitGo. It also pointed to LayerZero’s integration with Starknet, which it said links the protocol to more than 160 blockchain ecosystems. Crypto analyst Jonathan Carter wrote that ZRO had confirmed a falling wedge breakout on a three day chart and highlighted $2.40, $3.30, $4.80 and $7.00 as potential levels.

Axie Infinity’s AXS gained about 9% over 24 hours and was up nearly 140% over seven days after Sky Mavis changed how rewards are distributed in the Axie ecosystem. The developer replaced tradable AXS rewards with bAXS, a non transferable bonded version of the token, in a move aimed at reducing bot activity and short term farming that had added selling pressure.

The report said rewards are now account bound and that selling fees are linked to player reputation, which it described as tightening supply. An analyst cited in the report pointed to buying interest around $2.50, identified $2.46 to $2.50 as a support range, and marked $3 as the next key level.