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6.6%

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20.1%

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All the news that’s fit to browse - October 2022

Smooth Love Potion Price SLP, Market Cap, Charts, and Info

The total supply of a cryptocurrency is referring to the total amount of coins in circulation or locked minus the removed ones. Whilst the supply of SLP is not capped, burning mechanisms were created easymarkets forex broker review to curb SLP inflation. Specific user actions destroy SLP and reduce the number of tokens in circulation. As such, Smooth Love Potion has to be burned each time players breed new Axies.

  • Axie Infinity does not sell the SLP gaming token directly to players.
  • Before buying any cryptocurrency, it’s worth doing your homework.
  • SLP can also be bought, sold, and traded on crypto exchanges.
  • So far Axie has established partnerships with Ubisoft, Aave, Binance, Delphi Digital, Kyber Network, Upbit.

Smooth Love Potion is an ERC-20 token for in-game purchases inside the Axie Infinity’s ecosystem. SLP tokens also serve as the major source of income for players. Smooth Love Potion’s price quote is based on transactions taking place at each exchange. The trading volume and liquidity are different for each exchange, and those differences affect the price. Technical analysis is valuable in crypto investing even if you don’t have access to years of historical price data in the Smooth Love Potion chart. For example, with many cryptos, dramatic price drops and periods of high volatility have been followed by a sustained rise to new highs.

Instead, SLP can be earned through various modes of gameplay. The main source of SLP rewards is Arena Battles where players compete against other players to win SLP. SLP can also be earned through completing daily check-ins and quests. However, before earning SLP this way, a player needs to obtain their Axies, which can be done via the marketplace. The team announced plans to build a sidechain for the game and add more gameplay elements.

Price

To start playing the game, you would need to obtain some Axies from the marketplace, which are creatures that can be used to battle other players in the game. Another way of obtaining Axies would be through some interest groups that offer Axies as a loan in the form of a scholarship. SLP earned from the game are splitted between the scholarship holders and the group lending out the Axies. Axie Infinity is a game where users and the development team work together to grow the network. The platform is structured as an open digital pet universe, in which users must collect teams of Axies, build a land-based kingdom for them, and use them across various games. No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose.

slp price

Smooth Love Potion can be stored in any Ethereum or Ronin wallet that was specifically created for the Axie universe. It can also be bought, sold, or traded against ETH, USDT, BUSD on OKX, Mandala Exchange, Bitget, Gemini, KuCoin, Uniswap V3, OKEx, and FTX. Sky Mavis’s own decentralized exchange Katana allows users to swap SLP for WETH, AXS, or USDC. Besides, you can trade SLP on Binance Innovation Zone with ETH as a trading pair. To trade your SLP, you will first have to move your SLP from the in-game wallet to your Ethereum wallet. At the time of writing, Trezor is the only hardware wallet that supports SLP.

$0.003366 USD

However, the tokenomics model of SLP turned out to be flawed. The mint-to-burn ratio was too large, with around 4x more SLP created per do you have to pay taxes on bitcoin uk day than burned. This caused the token to spiral into hyperinflation amid the record rewards emission in the blockbuster year of 2021.

slp price

The price of SLP token skyrocketed 10x on the week when the Axie team initiated migration to the Ronin network, reaching a new all-time high of around $0.4. The bullish action how to buy bitcoin in 7 steps 2020 could not continue, however, and SLP plummeted to a local bottom at $0.08 by late May 2021. The trading volume of Smooth Love Potion is 9,576,915 in the last 24 hours.

Technicals

The number of active players tripled following the announcements. The bullish breakout was short-lived though, and SLP pared most of its gains soon. Layers collect, breed, manage, battle as well as trade NFT-based creatures called Axies. The game features a two-token model, where Axie Infinity serves as the governance token, while Smooth Love Potion acts as the in-game currency.

There’s no guarantee that the pattern will be sustained in the future, but if it has been consistent in the past, it’s worth considering. Before buying any cryptocurrency, it’s worth doing your homework. That means analyzing the price history to look for recurring patterns and indicators that the price of your investment is more likely to rise than to fall. For more information on digital asset risk see FINRA, SEC, and CFPB public advisories. SoFi will apply a markup of up to 1.25% for each crypto transaction. Market cap is calculated by multiplying the asset’s circulating supply with its current price.

Top Value Drivers For SLP

Besides SLP, Axie Infinity has a governance token called AXS which players can use to participate in determining the future direction of the game. SLP paves the way to the concept of Play-to-earn which popularizes the Axie Infinity games among players who are looking to earn some money or participate in DeFi. Analysis was done on daily data so all moving averages, RSI etc.., were calculated on a daily Small Love Potion price chart. Such a change of trends was partly explained by the changes in reward mechanics, which made it harder for players to earn in the game.

Smooth Love Potion market price is updated every three minutes and is automatically displayed in EUR. Below are the most popular denominations to convert to EUR. Speculations abound for how high Smooth Love Potion’s price will get in the future. Smooth Love Potion , as well as Axie Infinity, was developed and launched by Sky Mavis, a technology-focused game studio as a replacement for XP .

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. Yet, the amount of SLP tokens users can earn a day is limited. Axie Infinity pioneered the Play-to-Earn model as we know it, putting in-game assets on the blockchain and adding financial incentives for players. Axie Infinity’s game mechanics were emulated by hundreds of other teams, thereby giving rise to a new sector in the crypto market – user-centric blockchain gaming. As just mentioned, the SLP price today is currently around $0.006.

Will SLP ever go up?

Smooth Love Potion (SLP) Future Value Predictions in General

However, since its peak in July 2021, the token has been plagued by a bearish trend, which is not likely to change in the first half of 2022. This has given many SLP price predictions a pessimistic outlook on its future.

SLP are tokens that can be used to breed new digital pets, known as Axies. It was formally known as Small Love Potion before the token upgrade to the Ronin blockchain. It has a circulating supply of 40 Billion SLP coins and a total supply of ∞. If you are looking to buy or sell Smooth Love Potion, Bitget is currently the most active exchange. The summary for SLP/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots. CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions.

Prior to SLP breeding Axies required XP earned through battle with automated distribution. Upon release of Axie Infinity Ronin mainnet SLP was rebranded from Small Love Potion to Smooth Love Potion. You can obtain SLP by fighting other players in the Axie Infinity universe. You’ll be able to spend your SLP to breed new Axies in the game and continue playing, or you can sell it in the open market. Smooth Love Potion tokens can be earned as rewards by Axie Infinity players through battle or adventure mode.

  • To raise the price of SLP and encourage investors to buy the token, the company uses a burning mechanism.
  • Own 30+ cryptoassets on an easy-to-use platform, and share in the knowledge of 25m+ users.
  • In addition, they can determine how the game evolves in time.
  • Axie Infinity Shards or AXS is another ERC-20 Axie Infinity token.

After the long bearish trend the coin seemed to start recovering in the middle of February, jumping from $0.01 to $0.03, but right after that went back to the downtrend. Over the last 24 hours, a Smooth Love Potion is worth -0.75% less. Visit our currency converter page to convert SLP prices to currencies other than USD. So far Axie has established partnerships with Ubisoft, Aave, Binance, Delphi Digital, Kyber Network, Upbit. MakerDAO, AAVE, and Kyber Network gave away rewards and tokens to Axie players as promotions. The founder and CEO of the company that created Axie Infinity and SLP is Trung Nguyen, a software developer passionate about exploring blockchain’s potential in gaming.

If you’re looking for a set of practical and insightful crypto market information and data, we have the analytics tools to suit your business needs. SLP can be used in the Axie Infinity Universe to breed new digital pets or Axies. To avoid hyperinflation, Axies can be bred up to 7 times with each time requiring an increased amount of SLP. The price of breeding an Axie also depends on the specific breed a player wants to breed, depending on the breed count of a player’s pre-existing Axies . If a parent has a high breed count, more SLP is needed to breed. All Axies are designed as NFTs meaning they are unique and original digital objects.