Tuesday, November 30

Small Love Potion (SLP) Price Skyrockets 100% as Axie Infinity Launches Ronin DEX

Small Love Potion (SLP) is up a whopping 100% in the past 24 hours. The massive games come on the back of Axie Infinity, the project, part of whose ecosystem SLP is, launching a decentralized exchange.

  • Play-to-Earn continues to be a dominating field in the cryptocurrency industry, and today is just another proof of it.
  • Small Love Potion is a token part of the ecosystem of Axie Infinity. In fact, it’s the cryptocurrency that players earn while playing the game, and it can also be used to breed new Axies.
  • Over the past 24 hours, SLP’s price has gone up a whopping 100% before retracing a bit to where it currently trades.
Chart by TradingView
  • There are a couple of reasons that might explain the staggering surge of SLP.
  • First things first, the broader play-to-earn ecosystem is growing considerably in the past week following Facebook’s decision to rebrand to Meta and focus on building the metaverse.
  • This alone led to the increase in some cryptocurrencies such as SAND and MANA.
  • On the other hand, though, Axie Infinity announced today that it has launched Katana – the Ronin DEX.
  • The exchange will be activating RON rewards for the AXS/ETH and SLP/ETH pools later throughout the week, and it’s entirely possible that investors are loading up in anticipation.

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