Small Love Potion (SLP) awakened to skyrocket by over 100% within 24 hours after the launch of Axie Infinity’s new Ronin decentralized exchange (DEX). These huge gains were powered by Axie Infinity, which is the project a part of whose ecosystem SLP is launching a DEX.
Notably, play-to-earn (P2E) continues to be a dominant field in the crypto space, and currently, it is just another proof of it. Small Love Potion is the token part of the ecosystem of Axie Infinity. Notably, it is the crypto that the gamers earn while they are playing the game. These tokens can also be used to breed new Axies to win battles in the blockchain game.
In the last 24 hours, SLP’s price has gone up a staggering 100% before it retraced a bit to where it is trading currently. Several reasons may explain the explosive surge of SLP.
First of all, the wider play-to-earn ecosystem is expanding significantly. The sector seems to be feeding on the decision by Facebook to rebrand to Meta last week and focus on the development of the metaverse.
That announcement by Facebook resulted in a major increase in some cryptos like MANA and SAND. However, other forces are also coming into play. Axie Infinity confirmed that it has launched Katana, which is the Ronin DEX.
Today, we take one step closer to a more prosperous future for our nation ✨
Katana, the Ronin Dex, is live!
You can now deposit liquidity and swap tokens. RON rewards will be activated for the AXS/ETH & SLP/ETH pools later this week.
— Axie Infinity🦇🔊 (@AxieInfinity) November 4, 2021
The cryptocurrency exchange will soon activate RON rewards for the AXS/ETH and SLP/ETH pools. Therefore, it is highly likely that the investors are loading up in anticipation.