UPDATED 20.01.2022 Smooth Love Potion (SLP) bounced off from lows of $0.017 and regained 2.25% on Thursday to $0.018. After a long slide, there are expectations SLP can outperform and increase its price as much as ten times. In the next tournament round, Axie breeding fees will rise, increasing demand for SLP.
SLP can also be staked on the Katana Exchange to receive RON tokens, which are also expected to start trading soon.
Previous SLP Price Moves and Predictions
Smooth Love Potion (SLP) is threatening to break down under $0.03, after wiping out about 50% of its value in a month. Despite the mid-year popularity and a climb above $0.30, SLP is now down 90% since its peak. SLP was among the most popular tokens in 2021, even having a special SLP/TRY pairing on Binance, alongside the Tether (USDT) market.
SLP remains tied to one of the most widely played games, Axie Infinity (AXS). But the token is now facing the challenge of regaining utility and its reputation, especially after heavy shilling and high expectations in the past months.
SLP, used to create new Axies, is also falling due to a glut of characters, as well as a pressure to sell the tokens for profit. Swapping SLP to PHP is one of the token’s best selling points, as Axie Infinity was a popular game in the Philippines for its potential for high play to earn income.
Can SLP Burns Help
Axie Infinity is now moving onto the goal of transferring its activity to the Ronin network. The upcoming RON token may be the key to renewed value for SLP.
Generating RON will potentially decrease the supply of SLP and raise demand for new tokens.
Instead of selling, SLP owners may have an incentive to lock up the asset and produce RON, which has yet to launch on exchanges and enter price discovery. The launch of RON may put additional upside on the price of Axie Infinity Shards (AXS).
Another suggestion is that SLP may be used for gas costs on the Ronin network, thus causing regular token burns and scarcity.
Toward the end of 2021, it is still uncertain what the price of RON will be. There are some suggestions the network may carry enough games and open finance projects to compete with the likes of Solana (SOL).
AXS traded at $95.72, still distant from its peak price above $160. AXS may see increased demand when the Axie game launches land-based assets.