Why Does The Price of SLP and AXS Keep Skyrocketing?
Well, to understand it, you need to consider a few things.
- The game is growing extremely fast, and to play the game as a manager, you need these tokens.
- The Axie Infinity team have doubled the amount of AXS required to breed Axies, 2 AXS up to 4 AXS.
- 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.
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:
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:
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.
