Why is Smooth Love Potion (SLP) crypto grabbing eyeballs?

February 08, 2022 01:53 AM AEDT | By Manu Shankar

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Why is Smooth Love Potion (SLP) crypto grabbing eyeballs? — Image source: © Jakarinn | Megapixl

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Highlights

Smooth Love Potion (SLP) crypto primarily a blockchain-based game that is earned by playing the popular NFT game Axie Infinity.

Smooth Love Potion token is a multi-blockchain network that is powered by Ethereum, Solana, Ronin.

On 7 February, the SLP token was trading at US$0.013950 with a trading volume of US $453,196,082 over a day.

Smooth Love Potion (SLP) crypto primarily a blockchain-based game, which can be earned by playing the popular NFT game Axie Infinity. Smooth Love Potion token is a multi-blockchain network that is powered by Ethereum, Solana, Ronin. The ERC-20 gaming token allows users to breed digital pets called Axies, which can be sold on the NFT marketplace.

After Axies breeding, each user gets a limited amount of SLP tokens for farming. Players will need to win certain level in order to collect enough tokens for breeding. The users can earn SLP tokens through battling it out in the game.

The token was rallying on 7 February following a price surge of 28% and volume surge of over 400%.

Why is Smooth Love Potion rallying?

SLP’s rally seems to be linked with Axies rally. Axie Infinity has been well over 6% and it is reflected in the price rise of the SLP tokens. Besides, the game’s protocol has also seen certain changes. The game has got rid of its adventure mode along with the quest rewards, which accounted for the 40% and 14% of all SLPs. This change has resulted in the reduction of the daily issuance of SLP tokens by over 54%.

Following the change, the SLP token has seen rally of over 37% in the past week, coinciding with the good run even on Axie Infinity’s rally.

How is SLP faring?

On 7 February, the SLP token was trading at US$0.013950 with a trading volume of US $453,196,082 over a day. At the time of drafting, the SLP token was up by 26.95% with a tremendous volume rally of over 422.77%. The SLP token has a live market cap of US$ $52,437,546 with 3,759,044,640 SLP coins in circulation.

Backed by a strong team led by CEO Trung Nguyen, SLP in a way is similar to Nintendo game. One of the key USPs of the SLP token is that one of the very few in-game tokens that are listed on Binance are in its Innovation Zone.

Eyes on future

How SLP token will perform in the future will be an interesting thing to see as it has grabbed enough eyeballs from the investors for the time being. With it available on leading exchanges such Katana, TokoCrypto Gate.io, etc., the investors would be hoping to gain more players on its platform in the coming days.

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