• Latest
  • Trending
  • All
  • LATEST NEWS
  • SPONSORED POSTS
  • BANKING
  • Cryptocurrency
  • Job Past Questions
  • PRICE WATCH
  • VIEW POINT
  • ECONOMY
  • Careers
  • Press Release
  • Breaking News
  • education news
  • Personal Finance
  • Networth
Crypto moom meme

Axie Infinity user growth explodes as Small Love Potion (SLP) price increases

July 12, 2021
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Food Prices in Nigeria Soar in July 2024

Food Prices in Nigeria Soar in July 2024: Beans, Eggs, and Yam Lead the Surge

August 27, 2024
Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

August 27, 2024
Nigeria's Manufacturing Sector Struggles in Q2 2024

Nigeria’s Manufacturing Sector Struggles in Q2 2024: Growth Slows Amid Economic Challenges

August 27, 2024
Nigeria's Agricultural Sector Shows Modest Growth in Q2 2024

Nigeria’s Agricultural Sector Shows Modest Growth in Q2 2024: Crop Production Remains Key Driver

August 27, 2024
Nigeria's Economy Grows by 3.19% in Q2 2024

Nigeria’s Economy Grows by 3.19% in Q2 2024: Services and Industry Lead the Charge

August 27, 2024
States Share $71 Billion in Seven Years, But Poverty Persists

States Share $71 Billion in Seven Years, But Poverty Persists: What’s Going Wrong in Nigeria?

August 26, 2024
Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

August 26, 2024
  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise
Sunday, July 20, 2025
  • Login
Financial Watch
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
Financial Watch
No Result
View All Result
Home Cryptocurrency

Axie Infinity user growth explodes as Small Love Potion (SLP) price increases

by Cynthia Charles
July 12, 2021
in Cryptocurrency
0
Crypto moom meme

Crypto moom meme

494
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Axie Infinity user growth explodes as Small Love Potion (SLP) price increases – The Axie Infinity ecosystem have seen rapid expansion in and a parabolic rally from AXS triggered a 100% surge in the price of SLP; Last week Axie Infinity’s AXS token went on an impressive parabolic run and hit a new all-time high at $19.60.

Small Love Potion (SLP), a token in the Axie Infinity (AXS) ecosystem that is minted through gameplay as a reward to users, also broke out with a triple digit gain. SLP can then be used as a currency to breed Axies, which are nonfungible token-based creatures that populate the Axie Infinity world.

Axie Infinity user growth explodes as Small Love Potion SLP price increases
SLP/USDT 4-hour chart. Source: TradingView

Data from Coingecko and TradingView shows that the price of SLP has surged 102% from $0.127 on July 1 to a weekly high at $0.257 as new users flood into the play-to-earn digital battle pet game and drive the revenue of the Axie Infinity ecosystem to new highs.

New users drive up demand for Axie breeding

The success of SLP depends in large part on the overall growth and adoption of Axie Infinity, which has seen a significant uptick in new users since the protocol migrated to the Ronin sidechain of the Ethereum network at the beginning of May.

A recent report from Delphi Digital highlighted that interest in the Axie ecosystem has grown at an “exponential rate since the launch of Ronin,” with the biggest growth seen in the Phillippines, Venezuela, Cuba, Qatar and the United Arab Emirates (UAE) beginning near the end of April.

Axie Infinity user growth explodes as Small Love Potion SLP price increases2
Daily Google interest and geographical split for Axie Infinity. Source: Delphi Digital

The increase in interest has led to an influx of new users over the past two months as evidenced by the growth in daily active users, unique Axie holders and the number of Discord members.

Axie Infinity user growth explodes as Small Love Potion SLP price increases3
Axie Infinity community growth statistics. Source: Delphi Digital

As new users enter the ecosystem, more Axies are needed in order for them to engage in gameplay, which has led to an increased demand for SLP since it is required in the process to breed Axies.

Gameplay provides users with a daily income

One reason for increased usage in certain geographical reasons relates in large part to the economic struggles of the population in those regions.

With users able to earn SLP daily through gameplay or farming SLP, some participants have been able to make more money through Axie Infinity than college graduates earn from working.

At current prices, $SLP farming is even more lucrative than fresh grads salaries in Malaysia
200 SLP @ 0.2 = $40 a day
(Takes 2 – 8 hours)
$40 * 5 * 4 = $800 a month = RM3,200

Play to earn is disrupting GLOBAL economies and it's still pretty early h/t @nansen_ai pic.twitter.com/pUlQG7U051

— Darren Lau (@Darrenlautf) July 7, 2021

The process of breeding can also be quite lucrative for users fortunate enough to receive a “Mystic Axie,” a rare form of Axie that now have a price floor of 30 Ether while genesis plots of land in the Axie Universe can fetch nearly 270 Ether.

Another Genesis plot just sold for almost 270 eth. And mystic floor price is climbing to 30 eth. This is just unreal. @AxieInfinity $AXS pic.twitter.com/JAaRjpJU4c

— Seuchenhund (@seuchenhund) July 7, 2021

As a result of the growth the ecosystem has undergone since early May, the daily volume of sales on Axie recently surpassed $25 million with more than 50,000 NFTs being sold per day.

Axie Infinity user growth explodes as Small Love Potion SLP price increases4
Axie Infinity USD volume vs. sales count. Source: Twitter

To help put the significance of the growth seen in the income generated from the Axie Infinity ecosystem into context, over the past week the protocol generated more fees than all other crypto applications combined.

Axie Infinity user growth explodes as Small Love Potion SLP price increases5
Seven-day protocol revenue. Source: Twitter

While the recent growth for Axie Infinity is impressive, it remains to be seen if the current pace is capable of being maintained into the future and the long-term success of SLP hinges upon a sustained expansion of the Axie ecosystem.

Tags: altcoinsAxie InfinitySmall Love Potion
Share198Tweet124
Previous Post

US court Sentenced man to Prison, over $1 Million in Cryptocurrency Seized

Next Post

ICAN Tasks NDIC on Safety of Depositors’ Funds

Cynthia Charles

Cynthia Charles

She is a prolific writer and has special interest on writing about business and opportunities. She can be contacted via cynthiaadigwe@financialwatchngr.com

Next Post
NDIC recruitment

ICAN Tasks NDIC on Safety of Depositors’ Funds

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Stanbic IBTC launches Africa-China Agent Value Proposition

List of Stanbic IBTC bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Banks Employ More Contract Staff as full staff continue to dwindle

Nigerian bank employee grades and levels

June 14, 2021
N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

November 17, 2020
Zenith Bank2

List of Zenith bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Union Bank2

List of Union bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
How buy 2019 JAMB 2019 UTME form/ registration PIN online

UTME result: How to Check JAMB Result 2022 – Jamb Result Checker

1333
JAMB Result checker 2020 out | www jamb org ng result checker

Utme 2021: Check JAMB Results Using JAMB Registration Number

1146
List of JAMB Approved CBT Centres In Abia State 2020/2021 | Abia State Jamb Cbt Centres

Jamb Portal 2021: How to check Jamb Results – jamb.org.ng/efacility

523
P Yes registration

www.p-yes.gov.ng – Register For P-YES Progeamme Portal – Apply Now

436
Breaking: JAMB releases more 15,490 UTME results

JAMB Results 2021 Online Checking Steps | www.jamb.org.ng Result

316
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Financial Watch

Copyright © 2023 Financial Watch.

Navigate Site

  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH

Copyright © 2023 Financial Watch.