Analysis

Axie Infinity Smooth Love Potion (SLP) Explodes With 300% Gain This February

Smooth Love Potion (SLP) is skyrocketing in worth simply previous to the launch of Season 20 of Axie Infinity, the world’s hottest play-to-earn blockchain recreation.

In a matter of days, the SLP token triples in worth. As of February 12, 2022, SLP is now promoting for $0.027 with a 24-hour vary of.024 -.032.

The in-game foreign money has a market capitalization of $927,503,521 and a buying and selling quantity of $1,365,400,410 in the course of the 24-hour interval.

SLP is now the 102nd largest cryptocurrency by market worth.

The rally happens following a big replace to the sport’s financial system, which eliminated participant advantages for finishing key in-game duties, similar to Adventure Mode SLP and Daily Quest SLP.

Axie Infinity: How Does It Work?

In the world of play-to-earn video games, Axie is a well known title. Its gameplay is impressed by basic video games like Pokémon and Tamagotchi.

Players can collect, breed, fight, and commerce “Axies” within the recreation. SLP tokens are earned as rewards and could be redeemed for in-game options similar to breeding new species.

SLP/USD price at $0.028230 within the each day chart | Source: TradingView.com

Related Reading | Binamon NFT Game, on the Way to be the Next Axie Infinity on Binance Smart Chain

SLP is an ERC-20 token that acts as an in-game foreign money in Axie Infinity, a preferred blockchain-based recreation.

Axie Infinity permits customers to gather one-of-a-kind digital creatures known as Axies.

Axies are NFTs that may be bred, offered, or used in opposition to different gamers in fight. The Axie Infinity recreation makes use of a multi-token financial system and Axie Infinity Shards (AXS) because the ecosystem’s governance token.

SLP cryptocurrency is used in-game to assist Axie breeding. The Axie Metaverse permits for the shopping for, promoting, trade of different cryptocurrencies on supported exchanges.

How Does Axie Rewards Work?

One of the newest updates to Season 20 seems to be a 56% discount within the each day provide of SLP tokens.

SLP will probably be faraway from each day questing and journey mode, additional growing the token’s shortage.

SLP/BNB was added as a buying and selling pair on Binance earlier this week, permitting merchants to now trade BNB for SLP on the trade.

When tokens are listed on a serious trade similar to Binance, they often expertise a price improve because the token turns into extra accessible to new buyers.

While Axie Infinity’s SLP has seen vital will increase in latest months, it stays nicely under earlier highs. Only seven months in the past, the SLP token has been buying and selling at $0.39 per unit.

Meanwhile, the sport continues to draw an growing variety of gamers and buyers.

According to Crypto Records Australia, an Axie Infinity land plot NFT offered for a record-breaking US$2.48 million in November.

Related Reading | Philippine Government Requires A Cut In Profits From Popular Games Like Axie Infinity

Featured picture from Crypto Economy, chart from TradingView.com

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