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What's Going On With Axie Infinity (AXS), Small Love Potion (SLP) Cryptos Today?

July 12, 2021 2:58 am
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What's Going On With Axie Infinity (AXS), Small Love Potion (SLP) Cryptos Today?

Axie Infinity (CRYPTO: AXS) has skyrocketed over a whopping 115% over a week.

What Happened: The token of the blockchain-based game which allows users to collect, breed, battle and trade tokenized creatures called “axies” soared 116.11% over a week.

See Also: How To Buy Axie Infinity (AXS)

At press time, over 24 hours, AXS traded 7.26% higher at $17.81. Against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), AXS traded 5.43% and 5.28% higher, respectively. 

In the early hours of Monday, AXS was the top trending cryptocurrency on CoinGecko and also featured among trending names on CoinMarketCap.

Why It Matters: Last Weekend, Axie Infinity co-founder Jeffrey Jiho Zirlin claimed on Twitter that the project generated more revenue than Metamask, Pancakeswap (CRYPTO: CAKE), MakerDAO (CRYPTO: MKR) and Curve (CRYPTO: CRV) combined.

See Also: Why Is Crypto.com Coin (CRO) Surging Today?

The Axie co-founder said that the chief sources of revenue were breeding fees as well as 4.24% of NFT volume from the project’s marketplace.

“Axie is still a pretty basic product and has many upgrades coming over the next 9 months,” said Jiho Zirlin. 

Notably, Small Love Potion (CRYPTO: SLP) a token in the Axie Infinity ecosystem, which can be used as a currency to breed Axies also skyrocketed this week, rising 79.96%. Over 24-hours SLP is up 18.08% to $0.28.

A Twitter user noted that SLP farming is “more lucrative” than salaries that fresh graduates receive in Malaysia.

Read Next: Think Dogecoin Days Are Over? These Indicators Suggest There's More To Come

Photo Courtesy: Axie Infinity

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