Smooth Love Potion price today, SLP to USD live price, marketcap and chart

All of this means that you may have a little difficulty purchasing SLP directly with fiat. As a result, you may need to convert your dollars, pounds or euros into a mainstream cryptocurrency such as Ethereum first. 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. Any use or reliance on our content is solely at your own risk and discretion.

What is the all-time high for Smooth Love Potion (SLP)?

Nonetheless, at the time of writing the circulating supply of SLP was in the tens of millions — and this ERC-20 token does not have a hard cap. The price of Smooth Love Potion (SLP) is calculated in real-time by aggregating the latest data across 48 exchanges and 66 markets, using a global volume-weighted average formula. Players can earn SLP by winning a game in Axie Infinity, completing daily quests, battling other players in the Arena (PvP), or fighting in the Adventure mode (PvE). The PvP Arena mode within the Axie Infinity game lets you battle your Axies against those of other players and offers a lucrative way to earn SLP in the game. Your earning potential depends on your MMR (Match Making Ranking) rate in this mode. You can also build up the capabilities of your Axies with the help of the SLP currency.

Live Coin Watch

According to the Axie Infinity blog, the fee was adjusted in response to a slowdown in growth. Yet, it’s safe to say that SLP may continue to decline until Axie Infinity finds sustainable ways to burn the excessive supply. No play-to-earn game has deployed a largely balanced tokenomics model yet, and it remains to be seen whether Axie Infinity can pioneer a sustainable gaming economy. 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.

How does the price performance of Smooth Love Potion compare against its peers?

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. A qualified professional should be consulted prior to making financial decisions. Whether SLP token is a suitable fit for your investment portfolio depends on your personal circumstances and risk tolerance. You should slp coin forum evaluate the level of risk you are prepared to accept before investing. 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. “One major benefit of transitioning to Origin from Classic is expanded abilities to balance the SLP economy.

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. The team behind Axie Infinity had to completely revamp the SLP rewards structure by the time the game reached its peak of nearly 2.5 million daily users in early 2022. Thereafter, SLP price took a nosedive, plunging to levels that hadn’t been seen since June 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.

It’s fairly unusual for in-game currency to be listed on exchanges like SLP has. In a way, it’s like Nintendo deciding to tie monetary value to the coins used in Super Mario. Binance, the world’s largest cryptocurrency exchange, has announced the delisting of five coin pairs from its perpetual futures. The coins to be delisted include IDEX (IDEX), Smooth Love Potion (SLP), Moonbeam (GLMR), Measurable Data (MDT), and Audius (AUDIO). He is a software engineer and has worked at the IT company Anduin Transaction.

This is because SLP tokens are continuously being generated from in-game activities, and are burned each time new Axies are spawned from the breeding process. In this way, the SLP crypto supply is contingent on activity in the Axie Infinity game. The play-to-earn model also implies that every time a player is rewarded with SLP the total token supply increases, adding pressure on its value. This can disincentivize players to continue playing the game as they earn less in the long term and may quickly cash out their tokens to avoid inflation-driven price drops. Smooth Love Potion (SLP) tokens can be earned as rewards by Axie Infinity players through battle or adventure mode.

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. The mint-to-burn ratio was too large, with around 4x more SLP created per day than burned. This caused the token to spiral into hyperinflation amid the record rewards emission in the blockbuster year of 2021.

  1. Axie Infinity players are, however, rewarded with SLP for winning competitions in the game.
  2. If the number of Axie Infinity players increase substantially, this could result in much higher levels of SLP entering into the ecosystem as more competitions are won and lost.
  3. He mainly covers digital assets and tech stocks, with a focus on crypto regulation and DeFi.
  4. The trading volume of SLP (SLP) is $356.25 in the last 24 hours, representing a 46.70% increase from one day ago and signalling a recent rise in market activity.
  5. 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.

Slow transactions and high gas fees hampered gameplay and hindered the game’s growth. Sky Mavis solved this issue by transferring Axie Infinity to a gasless chain tailored for the game in May 2021. Want to convert the Smooth Love Potion price today to your desired fiat currency? Learn about the magical world of cryptocurrencies with CoinMarketCap Alexandriа.

The SLP crypto was launched in December 2019 and went on to get listed in the Binance Innovation Zone, along with the release of the alpha version of the game within the community. The next significant event in the roadmap occurred in June 2020 when the Ronin blockchain to host the Axie Infinity game was announced, followed by its mainnet launch in February 2021. Cryptopedia does not guarantee the reliability of the Site content and shall not be held liable for any errors, omissions, or inaccuracies.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *