Written by
P2E News

Why Does The Price of SLP and AXS Keep Skyrocketing?


Well, to understand it, you need to consider a few things.

  1. The game is growing extremely fast, and to play the game as a manager, you need these tokens.
  2. The Axie Infinity team have doubled the amount of AXS required to breed Axies, 2 AXS up to 4 AXS.
  3. The game is gaining an extremely large amount of exposure and hype, people are purchasing these tokens for investment.

Now let’s reflect on each one very briefly.

How fast is the game growing? Well, to put it into perspective, the game had 15,000 active users at the start of 2021 and now has over 310,000 active users. That is an increase of 2,000% in 6 months.

User Growth

As you can see above, these are the user numbers as of July 4th 2021, the growth has been astronomical.

Now, Why did they increase the breeding count from 2 AXS to 4 AXS? Well, the answer is actually quite simple. Here is a message from the Axie team as to why they chose to do this:

AXS from 2 to 4

In summary, it is for the sustainability of the in-game economy. The price increase of AXS would have been an easy bet for many investors after this announcement.

Finally, the game is popular! With popularity comes larger reach and more eyes. When the eyes of the whales are caught, you can guarantee that the money will start to flow into the tradings pairs, and with this, the price should begin to increase. On top of this, both tokens are on Binance, which is the world’s largest exchange. Millions of people have access to these tokens, meaning billions of potential trading money. See the regular trading volumes for both tokens below:

AXS SLP Trading volume

It goes without question that AXS and SLP have huge potential and opportunity to grow in the future. However, the ride will not be smooth, that’s a given. Be safe and have fun. Only invest what you can lose.

Related articles

Pegaxy Announces Exclusive AMA Session with Value Unlocked CEO!

Pegaxy, the home of racing in the metaverse, has announced an exciting AMA session with the CEO of Value Unlocked (VU), Jake Hall. On February 10, 2023, at 11 AM UTC, Jake will be answering all of your questions and sharing insights into VU, the latest addition to Pegaxy's partners.

floki-dao-slashes-tax-min (1)
Floki DAO Slashes Transaction Tax to Historic Low of 0.3%!

Attention all Floki community members! Get ready for some exciting news! The Floki team has just made a game-changing announcement that is sure to shake up its ecosystem. The transaction tax for the highly sought-after Floki utility token ($FLOKI) has been reduced to an unprecedented 0.3%. This is your chance to be a part of the revolutionary Floki Ecosystem!

Immutable X Introduces Immutable Passport

Immutable Passport is the solution game studios have been waiting for to bring web3 gaming to the masses! Developed by Immutable X, Immutable Passport streamlines user onboarding with its instant, non-custodial wallet onboarding solution. The passwordless sign-on process and automated wallet creation provide frictionless gameplay, while the battle-tested security ensures user's assets are secure. With access to a passionate audience of gamers, Immutable Passport is the key to unlocking the full potential of web3 games.

Rebel Bots Dropped the Details for Claiming Your Fighting Bot Army!

Just a few months after their successful beta release, the Rebel Bots team is excited to announce that players will soon have the chance to claim their very own Fighting Bot Army. This new addition to the NFT Battle Set is sure to be a game-changer for those competing in Xoil Wars!

Sando-Level Up and KooKoo Partner with Genso
Sando-Level Up Guild and KooKoo Join Forces with Gensokishi Online - Meta World

Sando-Level Up Guild and KooKoo, a prominent community and personality in web 3.0, have announced a partnership with Gensokishi Online — Meta World, an MMORPG that incorporates blockchain technology into its metaverse space. This partnership will surely bring a new level of excitement for the players of Gensokishi fans!

Pegaxy Partners with Value Unlocked to Offer Redemption of VIS Tokens for Real-Life Products and Referral Rewards!

Pegaxy, a leading player in the metaverse space, is excited to announce its partnership with Value Unlocked (VU), a revolutionary platform that enables users to unlock the full value of their crypto earnings.