Smooth Love portion is a coin, which is based on the Ethereum blockchain. It originates from the Axie Infinity universe - a computer world based on a popular game. Axies are imaginary creatures that can be acquired as pets and at the same time, they are NFTs that can be bought and sold. The whole game is based on the principle "Play-and-earn", and SLP is a coin that is used to acquire rare Axies and can be rewarded as a price for some actions. That is very interesting - one can get SLS for playing, attach his crypto wallet and sell his coins on a crypto exchange for fiat money.
It is a rare case that a game currency became more "real" and is being traded as any other cryptocurrency.
The Philippines is the country where Axies became especially popular. The biggest community of Axies lovers is in the Philippines, and that is why Smooth Love Potion became a payment method in the Philippines for some sellers of real-world goods. The Finance Ministry is considering the question of taxation of SLP operations. Such popularity lead to crypto world reaction: Coinbase started trading SLP and showing SLP price in peso; SLP is also traded on Binance.
In fact, SLP awards have enabled the Philippines community to increase their fiat income in the face of the COVID-19 economic crisis.
Every crypto trader is interested in this or that particular coin if it is worth trading. For those who are interested in the long-time acquisition, the main question is if the price of SLP today is less than it will be in a couple of months. In any words, the value of SLP today will strengthen its position.
There is no secret that SLP crypto price today is lower than it was a year ago. Just compare: in July 2021 it was about $12, now it is $0,3. That is a very serious decline even for such a volatile asset as a cryptocurrency.
There are many reasons for that. The value of SLP today is influenced by the popularity of the Axies. The gamers want to breed this fantastic creature and they need Smooth Love Potion coins. They come through battles and are rewarded by a number of coins. So the number of existing coins was not limited and was increasing every day. That leads to the fact that the value of SLP today is not high. In May 2022 due to the failure of the crypto market and some particular stablecoins Smooth Love Potion cost nearly zero. But it regained its value and thus proved its potential profit for investors.
This year the Axis Infinity management announced that they would stop rewarding SLP tokens for completing daily tasks. The team stated that SKP tokens can be earned in field battles. Thus, they will reduce the supply of SLP by 56 per cent every day. This news from the Axie Infinity front provided an increase in the SLP price. They continue this policy so slp current price may go up if the game continues being popular. That is luring prospective long-term investors.
SLP has rather a low rank - 538 on CoinMarketCap. But for day trading it is not important. The more important that is it traded in Binance and one can also use crypto trading bot to facilitate trade. As we see the situation with Smooth Love Portion is not traditional for crypto market. As far as it is a game currency it is difficult to make predictions. So crypto copy trading might be a good way to raise money. To start trading SLP you can use some of the trading scripts which are offered by indusCrypto.