Why is SLP price going down?

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.

The currency may drop slightly, but no major falls are expected. However, some experts claim that SLP could be worth even $1 next year, while by the end of 2025 it could have a value of $5 . It all depends on changes in the market, the current political situation, and the popularity of the game.10 Mar 2022

It is important to keep in mind that the price of Smooth Love Potion is completely dependent on the Axie Infinity ecosystem. As more players join the community and start playing the game, the price falls due to the increased minting of the token .2 gün önce

One quality that makes Axie Infinity a good investment opportunity , is the utility that the token has in powering the game. The game currently has over 2.8 million daily players, with a whopping $3.6 billion of AXS traded in game. As these numbers multiply, AXS coin could rise in value.

SLP Price Statistics Smooth Love Potion Price$0.0201224h Low / 24h High$0.0195 / $0.02162Trading Volume24h$306,268,856.35 67.36%Volume / Market Cap2.88Market Dominance0.01%Smooth Love Potion price today, SLP to USD live, marketcap and chart coinmarketcap.com › currencies › smooth-love-potion

Aside from the announcement, another big factor led to the soaring SLP and AXS prices, Crypto Potato emphasized in a post. This is the growing play-to-earn ecosystem made possible by the Facebook rebranding to Meta that pushes the building of a metaverse .