Price Analysis

Axie Infinity’s AXS Price Remains Stable While SLP Price Plummets Again

The past few months have proven rather interesting for Axie infinity and the AXS price. Although the game remains very popular, the recent Season 18 patch notes leave the community somewhat divided. The SLP price is heading south gain, yet AXS seems to hold its ground rather well. 

AXS Price Remains Afloat

Many people expected the recent Season 18 changes to affect Axie Infinity negatively. Some of these changes will undoubtedly displease PvE-oriented players, as they earn fewer SLP for doing daily tasks.s Instead, they will have to shift their attention to PvP combat, which is what a game like this is always about. After completing the PvE content, players have to increase their skills by fighting in the arena.

That patch note will introduce some crucial changes to how people approach Axie Infinity. Some people invested thousands of dollars in building a solid PvE team and hoped to make money through SLP farming. As those rewards are not cut by 50%, that is less of a viable option. It can still work out in the long term, but that will require a higher SLP price than before. Sadly, it doesn’t appear as if that is in the cards, at least for now.

The AXS price, on the other hand, appears to do just fine. It has recorded a new all-time high yesterday at $75.73. Although the current market momentum is a bit sour, there is no reason why the price can’t return to that level in the coming days or weeks. The Axie Infinity team also reduced the AXS required for breeding, which may increase interest in this token.

Source: CoinGecko

One also has to consider the AXS price was $40.57 seven days ago. Any value above that is a net win, even if the $70 level is tough to sustain right now. The overall interest in Axie Infinity isn’t diminishing yet, despite the recent changes made by the developers. Making money with the game will require a bit of a different approach for the time being, but the opportunities are still there. 

What About The SLP Price?

As mentioned earlier, the Smooth Love Potion (SLP) price is not heading in the right direction. Players expected that price to double due to rewards being halved for PvE players. However, cryptocurrency markets are very unpredictable and may not always head in the direction people want them to. For SLP, the price momentum of earlier in the week has seemingly evaporated completely. That contrasts the AXS price momentum.

Source: CoinGecko

The current value of SLP is $0.189 and seems to return to the low $0.18 range like earlier this week. Unfortunately, it appears that the SLP price will continue its overall downtrend that has been in place for a while now. A net loss of 38.9% in the past 30 days is significant and may not necessarily end there. The all-time high SLP price of $0.399 remains well out of reach and may not be reached again for some time.

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JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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JP Buntinx

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