A recent report in the Financial Times suggested that one key reason for the SLP dip in price was players converting their tokens into cash rather than reinvesting them in the game , contributing to a glut of tokens on the market, weighing on the price.
Read moreWhy is SLP up?
Why is SLP token price rising today? The main reason why the price of the SLP token is on the rise is the looming reduction of SLP token supply by Axie Infinity . Some may ask how the two (Smooth Love Potion and Axie Infinity) are connected.
Read moreWhy is AXIE price going down?
The play-to-earn metaverse tokens price has plunged 5% in the past 24 hours. The drop in user activity and reducing NFT sales could have negatively impacted Axie Infinity’s price. @BigCheds, a pseudonymous cryptocurrency analyst, has evaluated the Axie Infinity price trend.
Read moreWhy is SLP High?
SLP Price is on a Massive Spike Since then, it has been gaining an additional $0.257 every week and the trend only skyrockets as more users engage in the platform. The primary factor why the game’s value has been rolling on a high note is the huge pool of new users who are exploring the cryptocurrency game .
Read moreWhat is SLP coin used for?
Smooth Love Potion (SLP) is the in-game digital currency of the Axie Infinity gaming metaverse. It enables the game’s players to breed collectible digital pets — known as Axies . The overall demand for SLP tokens has grown such that they are also traded on cryptocurrency exchanges.
Read moreDoes SLP get burned?
The average amount of SLP burned as a percentage of the daily issuance is 58% and we’ve been a bit lower than this recently.
Read moreWill SLP crypto go up?
It is for sure that SLP had a bullish increase in 2021 and at the beginning of 2022, so experts expect that it could reach $0.4002 by the end of the year . If we follow the current fast growth, it could easily go up to $0.1027 or even $0.5 although it is hard to achieve by the end of this year.
Read more