With the fast development of the crypto world in the last 2 years, many revolutionary projects appeared in the industry. Axie Infinity came out as a game with a new play-to-earn concept and shortly was played worldwide, providing the opportunity to earn income in crypto, which was especially appreciated in developing countries. Smooth Love Potion is a reward token of the game and for a while, it became a must-have for many crypto lovers. Read our Smooth Love Potion Price prediction to see what is going to happen to the asset in the nearby future.
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Smooth Love Potion Fundamental Analysis
Smooth Love Potion (SLP) — previously Small Love Potion — is a second token issued by Axie Infinity blockchain game, the first being Axie Infinity Shards (AXS). The game gained a lot of popularity in the summer of 2021.
Axie Infinity features Pokemon-like creature characters, Axies, who can be bought and sold (since every one of them is an NFT), developed using various combinations of body parts, or bred. Breeding and adding new body parts can produce some unique combinations, which drives Axie NFTs’ prices up, with some of them selling for hundreds of thousands of dollars. To progress their game, players can participate in Axie fights or send their Axies on adventures.
As opposed to AXS, which serves as a governance token, SLP is useful to players not only outside the game world — although it is, as it can be traded on the open market like any other crypto — but also in-game. SLP tokens represent the experience points earned in battles and quests and must be spent to allow players’ Axies to breed. This classifies the Axie Infinity game as “earn-to-play”, which is in line with the game creators’ goals — they are hoping to change the gaming landscape and make earning money fun.
Smooth Love Potion Live Price Chart
The token started in 2021 traded for $0.05, but just one month later went for a great bull rally, that could be explained not only by the general crypto trends at the moment but also by rolling out of Ronin — Ethereum sidenet, made specially for Axie Infinity, allowing to decrease gas fees.
After 5 weeks of surging, the token hit $0.1 on March 15. As the project team was constantly updating the game, it increased the community interest in the asset. This was followed by a slight market correction, that turned to a downtrend in April with SLP coin falling as low as $0.03.
The situation changed in May on the edge of the bullish trend and SLP token hit its all-time high of $0.41 on May 1. The asset couldn’t sustain this high level and started to go down, reaching $0.13 on May 31. The period was not very friendly for most cryptos, but SLP managed to remain above $0.1. Despite the general tendencies, the token was gaining value during the summer season and even came close to its high milestone, but was unable to beat it.
This successful season didn’t last for too long though and SLP token started to lose in value from August. In September the asset fell below $0.10 for the first time in many months and SLP price chart continued to decline even further in December when the asset was pulled off to $0.05.
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. Currently, SLP continues to lose value. 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.
Analysts don’t have a united opinion on the future of SLP token. Most of them assume that the asset won’t be able to escape bearish trends, but some other market observers expect Smooth Love Potion token to recover and skyrocket in a long-term period.