Some main questions from Axie Infinity players in recent weeks are: What is happening with the SLP price, and why does it continue to fall despite the latest announcements from the developers?
SLP is the token received as a reward by Axie Infinity users for completing daily quests, winning battles in PVP mode, or as a reward for advancing through certain “adventure mode” levels.
Axie Infinity has been going through a great momentum due to recent announcements from the developers. Thanks to that, they managed to position themselves among the top 5 companies in the industry in terms of market capitalization.
However, users and game fans are very concerned about the current SLP price, because it significantly affects players’ earnings as it is the currency used to exchange rewards for fiat.
Why SLP is facing so many problems in its price?
One of the biggest challenges of the SLP, is the huge growth of users Axie Infinity has had so far, leading to a considerable increase in the amount of SLP produced daily in the game.
Latest decisions by the developers to change the axie breeding fees in order to help stabilize the SLP price and allow for a gradual increase in the token have failed to meet the proposed goal.
Axie Infinity’s own developers have high expectations for a gradual SLP increase.
However, the aforementioned problems bring as a consequence that the SLP price will remain low, due to the large supply compared to the demand in the exchange of this cryptocurrency.
Will the SLP continue to fall, or will it be able to rise?
It is expected that the SLP price in the coming weeks reaches a price rise, thanks to the increase in axie breeding and SLP burning.
It is important to note that Axie Infinity’s economy is based on cycles of highs and lows in the price of its tokens, and that increasingly the SLP stabilizes at a price higher than its last drop.
Translation by Marco Tulio Lanz
Visit all our news about Cryptogames here.
Now you can buy bitcoins with local Latin American currencies without commissions on Binance
You can buy and sell bitcoins and other cryptocurrencies on Binance P2P with the local currency of El Salvador, Venezuela, Argentina, Colombia, Chile, Uruguay, Peru, Bolivia, Paraguay, Brazil, Mexico, and Dominican Republic.
In Venezuela you can buy cryptocurrencies with Bsf through the banks Mercantil, Provincial, with bank transfer, mobile payment and PayPal.
To start buying, selling and trading cryptocurrencies on Binance you must have an active and verified account. It’s easy.
