SLP price prediction depends on a basic understanding of the principles and its correct analysis.
SLP currency is given to players in exchange for Axie Infinity game. In fact, this currency is considered as an alternative asset for game points.
Buying SLP currency in the open market is a way for gamers to get started.
We will introduce you to this currency in a completely professional and short time.
What is SLP or Smoot Love Potion?
SLP is an ERC-20 based token that can be used to raise new digital pets known as Axies.
Breeding costs start at 100 SLP but gradually increase to 200 for the second breed, 300 for the third breed, 500 for the fourth, 800 for the fifth breed and 1,300 for the sixth breed.
Axies can be bred up to seven times and the seventh breed costs, 2100 SLP. This restriction exists in order to prevent excessive inflation in the market.
Collecting SLP through the game can be time-consuming, and a player may need to win 15 matches to earn enough tokens to run and breed their first race.
Who are the founders of SLP?
It is better to ask of who are the founders of Axie Infinity currency? The CEO of this game is Trung Nguyen.
In fact, Trung Nguyen was a software developer in the United States who left his previous job to focus on the project.
Games with SLP currency
According to Nguyen, he was motivated to discover the potential of the Chinese blockchain in the gaming industry because he was tired of the fact that so many players could not really get valuable assets in the game.
In an interview with Blockchain Gamer, he said that the Atrium platform has given him the ultimate opportunity to build his “dream game” or SLP currency game.
According to the SLP currency game company, it is designed to provide a familiar platform for those who have played other collectible games such as CryptoKitties.
SLP currency prediction
In the continuation of the SLP price prediction process, we first need to predict the future of this currency. It is noteworthy that for such projects it is very rare to be able to buy and sell in exchange offices.
The creators of this currency say that axioms are different from other irreplaceable tokens and if they are to have a chance to reach maturity, we must take care of them.
Considering the listing of SLP currency in Binance Exchange Innovation section, we conclude that this currency is unique.
Binance allocates its trading category to assets that are likely to have higher volatility and higher risk than other tokens.
This project does not have its own blockchain, so it has been launched on the Atrium blockchain and the project is secured by the Atrium network.
What are SLP wallets?
Trust Wallet and MetaMask hot wallets can be used to store this currency.
Technical analysis of SLP currency
According to the figure and in the weekly time frame, it is clear that the long-term trend of this currency is downward and as long as it is not out of the downtrend channel, there is a possibility of further price decline.
As you can see, the biggest price drop came after the loss of 0.061 and 0.081 channels.
Buy SLP coin
The best centralized and decentralized exchanges for buying and selling SLP currency are Binance, KuCoin, Gate.io, FTX, Gemini, OKEx, Uniswap (V3), SushiSwap.
In addition to the SLP currency pair to Tetra, there are several other common currency pairs to trade this currency, such as: ETH and BUSD.
SLP price prediction
In order to predict the price of SLP currency, it can be said that the number of tokens in this currency is relatively fluid. This is because these tokens are burned every time new Axies are generated.
However, at the time of writing, the SLP was in circulation for tens of millions, and the ERC-20 token has no significant market value.
Following the SLP price prediction, it can be stated that if the number of Axie Infinity players increases significantly, it could lead to much higher levels of SLP entering the ecosystem.
The highest price that SLP currency has experienced is $0.41. Since then, the price of this currency has dropped by about 95%.
Therefore, due to the fact that the number of tokens in this project is unlimited and with increasing the number of players, its price increases, so for long-term purchase and maintenance, there is more risk and is not recommended.
At the time of writing, the SLP is priced at $0.0177, down 95% from its price ceiling.