SLP is the core token in the Axie Infinity game, primarily used for breeding Axie pets.
As an incentive asset within the Axie ecosystem, its price trends are highly correlated with the ecosystem's popularity. With a partial recovery in the gaming sector, the trading activity of SLP has increased.
This wave of increase is also driven by sector rotation, and there hasn't been any substantial positive news for the ecosystem. From being regarded as a dark horse token when it was launched in 2021 to the subsequent crash, many retail investors are trapped above SLP.
Tokens like this are typically short-lived; only when they are newly launched do project teams heavily promote them to attract retail investors, and then they sell off their holdings, leaving retail investors to take over. Although there may be a small rebound in the short term, I do not recommend holding onto it.
If we are looking to invest in altcoins, we should focus on strong and trending tokens. Anyone wanting to hold altcoins for the long term must understand the strength and vision of the project team to avoid buying into a scam token. If you are currently holding, you can consult me for more information.
