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

Christian Encila

1 year ago

2 mins read

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Smooth Love Potion (SLP) is skyrocketing in value just prior to the launch of Season 20 of Axie Infinity, the world’s most popular play-to-earn blockchain game.

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

The in-game currency has a market capitalization of $927,503,521 and a trading volume of $1,365,400,410 during the 24-hour period.

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

The rally occurs following a significant update to the game’s economy, which removed player benefits for completing key in-game tasks, such as Adventure Mode SLP and Daily Quest SLP.

Axie Infinity: How Does It Work?

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

Players can gather, breed, combat, and trade “Axies” in the game. SLP tokens are earned as rewards and can be redeemed for in-game features such as breeding new species.

SLP/USD price at $0.028230 in the daily chart | Source: TradingView.com

SLP is an ERC-20 token that acts as an in-game currency in Axie Infinity, a popular blockchain-based game.

Axie Infinity allows users to collect one-of-a-kind digital creatures called Axies.

Axies are NFTs that can be bred, sold, or used against other players in combat. The Axie Infinity game utilizes a multi-token economy and Axie Infinity Shards (AXS) as the ecosystem’s governance token.

SLP cryptocurrency is used in-game to support Axie breeding. The Axie Metaverse allows for the buying, selling, exchange of other cryptocurrencies on supported exchanges.

How Does Axie Rewards Work?

One of the most recent updates to Season 20 appears to be a 56% reduction in the daily supply of SLP tokens.

SLP will be removed from daily questing and adventure mode, further increasing the token’s scarcity.

SLP/BNB was added as a trading pair on Binance earlier this week, allowing traders to now exchange BNB for SLP on the exchange.

When tokens are listed on a major exchange such as Binance, they frequently experience a price increase as the token becomes more accessible to new investors.

While Axie Infinity’s SLP has seen significant increases in recent months, it remains well below previous highs. Only seven months ago, the SLP token has been trading at $0.39 per unit.

Meanwhile, the game continues to attract an increasing number of players and investors.

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

Featured image from Crypto Economy, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.