One of the tokens of Axie Infinity, SLP, has recently broken out in a profit that has run into the triple-digits. This implies that the token can actually be used as a currency to breed the ecosystem of Axie which are simply nonfungible token-based creatures that are known to fill the entire world of Axie Infinity.
Interestingly, the AXS token of the ecosystem managed to get on an impressive parabolic run where it ended up hitting a high of $19.60. According to data from TradingView and Cointelegraph Markets pro, the SLP price rocketed by 102% from its previous sum of $0.127 on the 1st of July to a high of $0.257. This was directly influenced by several new users flooding the entire sphere of this play-to-earn digital battle pet game.
New Users Drive Up Demand For Axie Breeding Through SLP
It has come to note that a large portion of SLP’s overnight success depends on the overall adoption and growth of Axie Infinity. Fortunately, there has been quite a significant increase in the number of new users ever since the protocol went on to the Ronin sidechain of the Ethereum network a couple of months ago.
Delphi Digital recently came across a report that strictly highlighted the interest in the ecosystem which has strictly grown at quite an exponential rate ever since Ronin was launched. This has been the biggest growth ever seen in countries like Venezuela, the Philippines, Qatar, Cuba, and the UAE.
The growth in the interest of Axie has led to quite an influx of users over the last couple of months which can be duly noted by the massive increase in the number of active users.
With newer users coming through the ecosystem, most of the SLP tokens are now needed in order to engage in the gameplay. This has generally led to an increased demand for the token currency of this NFT since it helps breed Axies.
