Axie Infinity’s SLP increased by 40% in 24 hours following the Season 20 update.
The reward token SLP (short for smooth love potion) in Axie Infinity SLP has increased by 40% in the last 24 hours since the release of the “Season 20” update.
According to Axie Infinity, the update reduces daily new supply to 45 million SLPs, slowing the rate of SLP issuance.
Bitcoin’s supply has grown at an exponential rate, while the price has dropped by 99 percent in the last seven months.
According to a Delphi Digital newsletter, SLP hyperinflation has had an impact on the game due to the high minting rate and low burning rate of SLPs. As a result of the selling pressure, prices fell below $0.01.
The SLP rally, according to Axie Infinity co-founder Aleksander Larsen, is a direct reaction to the game’s reduction in SLP issuance.
Speculation
The majority of the speculation, according to Larsen, is driven by speculation, but we expect SLP to stabilise in the coming weeks as fundamentals come into play.
According to Messari data, SLP has quadrupled in price in the last week in anticipation of Season 20, but it remains below its July high of $2.41. A flurry of headlines have extolled the virtues of coin-operated video games.
According to an Axie Infinity SLP blog post, all SLP rewards have been removed from the “adventure mode” and will be capped to increase token scarcity.
According to a blog post about adventure mode, axes have outlived their usefulness in earning game tokens. Originally, it was meant to assist the community in learning how to use their Axies.
According to the blog post, the $7 million prize pool created by the Season 20 update is intended to “supercharge the competitive Axie scene.”
The value of the governance token AXS has risen by 40% in the last week, reaching around $67.
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