Smooth Love Potion (SLP) is up 29% as Axie Infinity plans to reduce supply by 50%: you can buy SLP here

Smooth Love Potion (SLP) has been on a very strong bullish trend today. At the time of writing, it was up 29% and has hit a daily high of $0.02377 and a low of $0.01525.

Today’s rally is mainly attributed to Axie Infinity’s plans to reduce the supply of the tokens by half to avoid collapse.

To help new investors and traders who are interested in the Smooth Love Potion, Invezz has created a brief article that explains what Smooth Love Potion (SLP) is and sheds some light on where they can buy the SLP token.

To find out more, please continue reading.

Best places to buy SLP token

As SLP is such a new asset, it's yet to be listed on major exchanges. You can still purchase SLP using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy SLP right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it's one of the world's leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It's also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You'll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and 'connect' your wallet to it.

4. You can now swap your ETH for SLP

Now that you're connected, you'll be able to swap for 100s of coins including SLP.

What is Smooth Love Potion (SLP)?

Smooth Love Potion (SLP) is a token that is earned by playing the Axie Infinity game.

For starters, the Axie Infinity game is a blockchain-based play-to-earn game.

The SLP tokens serve as a replacement for experience points gained as players advance through the game.

The SLP tokens are ERC-20 tokens and after being earned they can be used to breed new ‘Axies’ in the Axie Infinity game besides being traded on crypto exchanges. The cost of breeding starts at 100 SLP; meaning a player has to accumulate at least 100 SLP tokens to be able to breed the first Axie.

Players may have to 15 competitions to accrue enough SLP tokens to perform the first breed and that is why buying SLP is a better option for those who want to shorten the process.

‘Axies’ can be bred up to seven times and the seventh breed requires 2,100 SLP tokens.

Should I buy SLP token today?

If you are looking to invest in a play-to-earn game token that is on the rise, the SLP token could be a good choice.

Nevertheless, you should be aware of the fact that the cryptocurrency market is extremely volatile and extreme sudden market swings are possible.

SLP price prediction

Smooth Love Potion (SLP) token price is expected to continue on the bullish trajectory, especially following the plans by Axie Infinity to reduce the supply of the coins by 50%.

Analysts expect the price of SLP to hit $0.05 before the end of February.

$SLP social media coverage

The post Smooth Love Potion (SLP) is up 29% as Axie Infinity plans to reduce supply by 50%: you can buy SLP here appeared first on Invezz.