As such, Smooth Love Potion (SLP) has to be burned each time players breed new Axies. The price of SLP spiked amid growing demand for the in-game currency from players and probably speculation on Axie Infinity’s phenomenon. The price of SLP coin rallied again in August 2020 when the team revealed the kick-off of the native governance token AXS, but SLP did not set a new all-time high. Ассording to our SLP USD live price chart, Smooth Love Potion crypto did not see any major movements until it surged roughly 4,800% in the week when the Axie Infinity revealed its new roadmap, in July 2020. The team announced plans to build a sidechain for the game and add more gameplay elements. The bullish breakout was short-lived though, and SLP pared most of its gains soon.
- The Fear & Greed Index can be a useful measure of Smooth Love Potion investors’ sentiment, and is based primarily on Bitcoin-related market data.
- It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite.
- It can not only be earned in the Axie Infinity metaverse, but can also be traded on supported cryptocurrency exchanges — a noteworthy caveat that brings wider market access to this in-game currency.
- 50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels.
Currently, the RSI value is at 47.34, which indicates that the SLP market is in a neutral position. SLP can be earned through playing the game, by completing daily quests, adventuring in PvE mode, battling other players in the Arena, or simply by buying the token on an exchange. In June 2022 Axie Infinity announced the winners of its first Builders program grantees, choosing 12 projects for the first batch. In an effort to get back the users that left the game over the span of 2022, the team is in the process of adding more community-generated content to its ecosystem and building new gaming experiences. In order to counteract the oversupply issues, Axie Infinity cut SLP emissions substantially under its game upgrade released on Feb. 3, 2022.
We recommend that you always do your own research and consider the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. The rapid growth in the game’s popularity has created a ‘scholarship’ model, in which ‘managers’ rent out their Axies to ‘scholars’, who use them to earn income. Cryptopedia does not guarantee the reliability of the Site content and shall not be held liable for any errors, omissions, or inaccuracies. The opinions and views expressed in any Cryptopedia article are solely those of the author(s) and do not reflect the opinions of Gemini or its management. The information provided on the Site is for informational purposes only, and it does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice.
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Axie Infinity is a game universe filled with fascinating creatures, Axies, that players can collect as pets. Players aim to battle, breed, collect, raise, and build kingdoms for their Axies. The universe has a player-owned economy where players can truly own, buy, sell, and trade resources they earn in the game through skilled-gameplay and contributions to the ecosystem. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
SLP price
To breed an Axie, the player must pay a fee in AXS that goes directly to the Axie Infinity treasury. Depending on how many times an Axie has been bred, players will also need a varying slp coin forum amount of Smooth Love Potion (SLP) to follow through with the breeding process. © 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.
This caused the token to spiral into hyperinflation amid the record rewards emission in the blockbuster year of 2021. Smooth Love Potion price is correlated with the top 10 coins by market cap with a price of , excluding Tether (USDT) and correlated with the top 100 coins by market cap excluding all stablecoins with a price of . Over the past 7 days, Smooth Love Potion price was most positively correlated with the price of and most negatively correlated with the price of . Whether SLP token is a suitable fit for your investment portfolio depends on your personal circumstances and risk tolerance. You should evaluate the level of risk you are prepared to accept before investing.
Popular SLP Moving Averages and Oscillators for Mon, Jan 29, 2024
The Axie Infinity team encourages using the native Ronin wallet available in both desktop and mobile versions to store your SLP tokens, as well as AXS tokens and in-game NFT assets. You can also use any other crypto wallet compatible with the ERC-20 tokens such as MetaMask and Trust Wallet. Whilst the supply of SLP is not capped, burning mechanisms were created to curb SLP inflation. Specific user actions destroy SLP and reduce the number of tokens in circulation.
Axies can be collected, raised, trained, and used for battles within the Axie Infinity universe. Each AXIE has unique characteristics to define rarity and strength with all genetic information stored on the blockchain. When two Axies are bred, the spent SLP is burned and replaced with a new Axie NFT.
How to read Smooth Love Potion charts and predict price movements?
Moving averages are a lagging indicator which means they are based on previous price action. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA). Always research the latest Smooth Love Potion price prediction before investing.
Even though Axie Infinity users need some capital to assemble a team of Axies and join the universe, they get paid for actually playing the game. Smooth Love Potion (SLP) is the utility token of the play-to-earn blockchain game Axie Infinity where players battle with each using creatures called Axies. The Pokemon-inspired universe was developed in 2018 by Sky Mavis, the Vietnamese game development studio. Axie Infinity went viral in 2021, adding millions of users and making headlines as the biggest NFT game in major financial media outlets like Bloomberg. Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices.
The amount of tokens in circulation remains the same in this case as no new tokens are minted or burned. Thereafter, SLP price took a nosedive, plunging to levels that hadn’t been seen since June https://cryptolisting.org/ 2020 and trading 99.8% down from its all-time high. Similarly, Axie Infinity’s AXS governance token fell from its all-time high of about $166 in November 2022 to around $13 in June 2022.
Smooth Love Potion price prediction 2030
SLP ended 2021 at $0.027 and has continued to decline, trading around $0.01 in recent days. The SLP token has value in the Axie Infinity metaverse via play-to-earn economics as well as value in the wider crypto market. The fact that SLP is being traded on decentralized SLP token exchanges distinguishes it from most other in-game currencies. This represents a landmark not just for Axie Infinity and the Axie marketplace, but also for metaverses and NFT markets as a whole.
Smooth Love Potion (SLP) is an ERC-20 token that is the in-game asset of the popular blockchain-based gaming metaverse Axie Infinity. In this game, players collect unique digital pets called Axies — represented by non-fungible tokens (NFTs) — which they can breed, sell, or deploy in battle against other players. The Axie Infinity game has a multi-token economy, and uses another ERC-20 token called Axie Infinity Shards (AXS) as a governance token for its ecosystem. Moving averages are among the most popular Smooth Love Potion price prediction tools.
The developers have since limited the ways players can earn SLP and launched a new season of the game in August, again adjusting the way the token works. SLP tokens facilitate the breeding of Axie NFTs in the popular gaming metaverse Axie Infinity. It’s now not clear whether SLP would be ever able to return to its peak price levels. While the immense popularity of Axie Infinity may be gone for now, the team behind the game is actively experimenting with game mechanics to woo more players. Smooth Love Potion (SLP) is an ERC-20 token for in-game purchases inside the Axie Infinity’s ecosystem. The 200-day SMA is calculated by taking Smooth Love Potion’s closing prices in the last 200 days, adding them together, and dividing the total by 200.
Axie Infinity developers attempted to address the sharp drop in the value of SLP. In September 2021, the developers adjusted the Axie breeding fee, reducing the AXS cost from two to one and increasing the SLP cost on a scale of 600 SLPs to breed one Axie, up to 6,300 SLPs for six Axies. In March 2022, Axie Infinity’s Ronin bridge to Ethereum was exploited for more than $600M worth of assets. However, helped by Binance and its own balance sheet, Sky Mavis has proven its commitment to reimburse all the affected users.