Bitcoin Forum

Is there anyone who invested in SLP? Last time I invested when SLP went to 0.13$ Then again when it was coming to Dip I invested again at 0.07$ . I have invested in several steps like this. Now my goal is to sell the full amount for 0.12$. What Do you think SLP will recover again? And should I invest in it again now? Currently, the price is around 0.004037 $

SLP is an altcoin (token) so this discussion belongs to Altcoin discussion (https://bitcointalk.org/index.php?board=67.0). Please move it there.

Issue with Axie Infinity is Play to Earn. This article is comprehensive about it, A Billion-Dollar Crypto Gaming Startup Promised Riches and Delivered Disasterp (https://www.bloomberg.com/news/features/2022-06-10/axie-infinity-axs-crypto-game-promised-nft-riches-gave-ruin)

They created something unsustainable at beginning and reacted too late to stop the death spiral and they will have to create a very different model for their games in order to get rid of sell pressure and bring SLP, AXS back to higher price. It won't be done in short term and success or not, it will depend not only on time, general crypto market but also on their solution to fix their model.

Firstly I don't know how much you invested but it's really sad for you. Let's come to the point, Already one has discussed it in detail so I won't go into that. But for now it's risky to invest in alt-coin where coin like this. But 10$ or more little amount is not a big deal.  I can't guarantee that it will 100% recover But it can be said that recovery will take a long time. So if you are going to investing for long term you can take a little amount of trade .

If you are looking for safe and profitable investment please avoid altcoin now . Because many alt-coins are collapsing in this bearish market.  But their trade volume is seen to be high and also listed in good exchangers , I think they can recover but they don't seem to be that successful and recovery time can be long. BeCareful about to investing .

Really hard to determine on projects potential whether it could make out some good recovery or its already over for the said game/nft.If we do tend to look on its ATH and to its current price then we can

really say that it is really on the verge of death but surprisingly there are still people on the community who do still support it despite of earning capacity is less or not really worth anymore on someones time but if you do really trust up on the project for have to its recovery then you could always opt on accumulating since the price is way too cheap as of this moment.

The only problem i do see with Axie Infinity and its coins is that it doesnt have burning mechanism which causes for its entire supply to go way beyond the heavens.  :D

This topic should be moved to the Altcoin Discussion thread since we're talking about an altcoin called SLP.

I'm sorry to say but I think it's kinda impossible right now for SLP to recover and may break its previous all-time high. With the declining number of players & trading volume of SLP and AXS, I can say that the hype already died.

Yes the hype was real back then during the time Axie was red hot. This is what I have predicted all along. The more players who have entered the game, the lesser the rewards we get that forced the devs to keep cutting our rewards as their pool cannot be sustained for long.

Now we're just treating Axie Infinity like the other traditional games which is for fun (but of course Axie NFTs, SLP and AXS as bonus perks that has the edge over the other non-NFT games in terms of ownership, custody, etc).

I'm still holding a lot of SLP. It's your call if you want to invest again because no one knows if it will recover soon or may not. I'm holding because I think that it will recover but that's what I think and others shouldn't rely on their decision to reinvest with what others think.
If you have money to invest, take the first action on buying bitcoin and when you're satisfied with the amount you hold in btc then that might be the good time for you to reinvest in SLP or any other coins. Still today, I'm holding all of its tokens including Axies.

Do your own research mate, i haven't invested in SLP, neither will i. The market is in a bear time so maybe you should not invest in that as of now, it might be too risky. And if you decide to hold the SLP you have already, the thing is, can SLP be sustainable for the long period, or is/was it basically just all about the hype which it is currently lacking, and could your tokens continue to lose value as you hodl it.
It might not be too good to do it that way, i'd rather invest in Bitcoin and choose some other asset, gold for example, because they (Bitcoin and Gold) are not similar assets. If you will invest in Bitcoin and other coins/tokens, then you are only just investing in things that are intrinsically similar, and it is of no advantage to you.

All coins are huge dumped in this current market condition. even Bitcoin dumped around 70% from ATH. SLP is not a very good altcoin in my opinion. I have followed the behavior of this coin for a long time. And saw that it always drop this coin price and suddenly at some point huge pumped. Which is almost like gambling. So I am not too optimistic about this altcoin.

If axie infinity could be able to get their supply reduced by burning then we can be of certain of its comeback. We cant actually do much about its supply as there is no demand on the use case of slp. Once v3 is started to roll out on mainnet then possibly it could reverse its current price. They should prioritize a good revenue program to its investors and to lure more interested users. People started to have doubt when the slp is highly saturated already leading to massive dump.

I'm not sure how they would be able to recover something like this because the unlimited supply that they have provided is the one that is killing the system.

Many people have already gone away with Axie Infinity because of its declining value. I remember the time when the active players were at a million, but now, it's just in the hundred thousand. It's just a matter of time before it continues to decline. But by then, I hope they find a way to recover.

There's nothing wrong in speculating about the price, as long as you can risk that amount of money.

I believe the Sky Mavis is still continuously developing Axie. They have released Axie Origins which they promised will have burning mechanisms that will eventually bring the price of SLP up. They also not have released the land gaming yet. All of these will bring the price of the tokens higher if executed perfectly. But as of now, these are all but promises. And all the remedies that they have released in the past to pull the price of its token up has failed.

What can you do with your token? Well, you can bail out now and accept the loss or you can HODL.

This is a waiting game. Since we are in a bear market and all cryptos are in slump, you can wait for the market to recover and see if SLP and AXS will recover with it. You also must watch closely the activities of SKY MAVIS. If they are about to release something good that could temporarily elevate the price of their tokens, you can take action on that. Take a risk or take profit when it happens. 

Good luck with your investments.

Interesting, I did not know this project is still taking break. I saw huge promotional threads as well as social media presence for smooth love potion back in time and was very interested in the concept. However, to keep myself away from the NFT, p2E world I made some decisions not to invest into them. The current price is hilarious though the whole market is on downfall. The problem with such projects is, they need to make come back as if they started just now when the prices are almost zero. So its huge risk.

Bitcoin is the safest but not all altcoins crash, there are still many good altcoins on the market. It is still possible for you to invest in altcoins, but it is advisable not to focus on the lesser known altcoins, it's better to focus on top altcoins. This will reduce your risk and you will have to do all the relevant research on the altcoins you wish to invest in.

I agree with what you've said and that's why OP and someone who's interested in doing it has some money to invest. Like the money that it's okay for them to sleep for a long time and willing to lose then they can do just as said.
I'm a holder of both bitcoin, slp, and other sky mavis tokens and as well as other altcoins. I would really prioritize buying bitcoin instead of buying other coins.

Lots of investors are still holding their SLPs and to be honest, it has a huge total supply because the developers aren't mindful of its burning mechanism before. They didn't even work well on their version 2. I don't think SLP still has a good future. Its hype is over and still, many investors are stuck on their holdings so buying it right now won't be a wise decision. Choose active and high-potential coins like Bitcoin and other top coins.

Considering that GMT will soon follow in the footsteps of SLP, since they are only temporary trend tokens, it would be a better idea not to invest in them.
It is advisable for us to prioritize bitcoin and ethereum as they are the most liquid assets in the market at present,  investing in tokens like SLP, GMT is more like gambling than investment.

Don't expect more. That could be the finest number you could receive.
This token is an NFT and it had been depreciating since day 1. I would not assume that it would go higher than what you paid for 1 year ago or further than than. It's not Bitcoin and neither Ethereum.
It will keep on falling even if there's a bear or a bull.
I have invested in it before because of the hype but sold it at early times, you might want to do the same and save yourself from all the trouble.

There is no real use in selling it right now also. Better just keep waiting until we are in a bullmarket again, and maybe this coin will get a massive pump again and than it is the moment to sell.

Yeah, that was the problem before when most investors and players were asking for a burning mechanism but they've given another update instead of that directly.
The hype is over for real and we do all know about that, but for me, I have nothing to lose so I just hold it and waiting that something good might happen for this coin.

I'm not sure if you guys know already where this is going but come to think of it, if there's a hype then most of those who hold will dump their token so there's no chance you would see a pump with this token plus we are in a bear market so that makes it a little difficult to pump. I am not hoping that this token will start to pump or make at least ride with the hype because if there's a pump then most people who hold prolly gonna sell it right away.

Too risky an investment. The whole point is that SLP is an inflationary token. The reason for its decline is that its minting rate is higher than its burning rate. This was the reason for the Axie Infinity project's deafening failure. SLP, because of Axie's popularity, has seen an uncontrolled growth in the number of SLP tokens themselves, so investing in a token with unlimited issuance should only be considered as a short-term investment, in my opinion, and better not considered at all.

That's it, we are in a bear market and that's why I'm holding it. If the market goes on the bull again, there's still a chance that it will be lifted up even a little bit from bitcoin and ethereum. I know what I'm doing and whether I profit on this hold or not, any result is totally okay for me because I don't really have that choice on my mind right now such as selling it at a total loss. It's like quick buck upon selling it if there's a sudden surge for this coin and it's not just for this coin also for those that have been hit hard by the bear market.

I suggest not to invest it now. We are not really sure if this SLP token will recover fast and get demand just like the previous days when P2E is highly in demand like Axie Infinity. In fact, the value of this token has been dropping before the bear season which I think was an indication of something undesirable events happening to them.

I know that many people, P2E players are still holing SLP hoping it rallies back, and what I can say is that is to just hold but never invest more on them.

You should stop throwing good money to a project that has done nothing for you except to give you massive losses, it is time to accept the reality and understand the most likely you're never going to obtain any profits from that project, I know this is probably something that you do not want to hear but you have to do it, because if you keep thinking that at some point you're going to recover your money it's likely that you are going to invest in that project again only to once again lose money with such coin.

I've been an Axie Infinity Manager for over a year, which allows me to hold a lot of SLP that I haven't even been able to sell because of its market value. However, due to a sharp market decline, the scholars are leaving, making the only asset that's generating a tiny profit for me is the AXS.

Sure there are a lot of updates and Jihoz even claimed that their game economy is healing [1], but I still don't think that SLP will recover anytime soon as there are still lots of economics changes that needs to be implemented.

[1] https://twitter.com/Jihoz_Axie/status/1545071504114827264?t=Yx_VRxyJtvpdWyCwHMX1tA&s=19

SLP, a coin used by many crypto gamblers, today is valued at $0.004/coin, I also invested in slp coins, for $200 two days ago, however of course i have to have patience to get the profit i can reach the level of $ 0.13 as it ever happened.

Of course I wish SLP my best choice in Altcoins this year

It feels hard seeing the market in decline and feeling of being disappointed about the market, about the coin we think could give us a lot but of a sudden, it drops drastically without having a chance to sell them and benefiting from them at least. However, being a crypto investor never think about giving up instead, we are still optimistic about the incoming. Not haven't a chance but I will be going to agree that it was not easy for the SLP to recover if the market decline continues. 

At one time SLP was in the market with good value. But now the price of SLP has come down a lot. It is very difficult to say. whether it will recover or not. Although it is recovery.  It will take a long time. So if you want to invest here.  Then you must hold it for long time to get big profit.

Many of the play-to-earn projects today are struggling to recover from the crypto crash and Axie Infinity is one of them. I think this is the downfall of them and investors leaving already and it also had a massive account hack that worth millions. So, it is pretty hard for them to recover especially we are still in the bear market.

I am not at all optimistic about SLP. I don't think so. It may be better in the future. Now almost all the coins in the market are starting to rise in price.  But SLP is still not showing signs of hope. Maybe it will grow again. But it will take a long time. While other coins are able to give more profit than this in same time

It's up to you but just like what I said you have a little chance to sell your token to make a profit or none aat all since most of those who hold will dump it right away if there's a pump. I've seen my friend of mine trying to hold a little longer thinking it would still pump more when it's pumping a little which is a good profit if he consider to just take that profit but instead he waited for more then the market suddenly drop then he's still just holding now without gaining any profit. That's the problem of being greedy trying to expect more when the opportunity is just in front of you.

And I'm one of those that will dump it eventually when we see the price rise in a better state. I've already explained what might happen and I'm very much open to it.
I'm seeing that there are more burned SLP and plus the event that they've got now and that's why if it continues to happen, more SLPs will be burned, and minted will be lower. In that case, it's likely that it can impact the price even just for a bit because I know it's really a market-reliant token, so if BTC and eth go up, it'll follow.

If SLP Team continue token Burning and buy back from market all the low price of SLP. Then SLP again can pump and gain high token value. otherwise it may not go far. Anyway hope SLP team will try their best to move SLP to good position. If they do this, those who buy and hold SLP now will benefit greatly.

as far as I know that SLP (Smooth Love Potion) is used to upgrade the in-game Axie and can be earn and the biggest thing that can make the price is further down because people keep selling it after earning and SLP doesn't have a max supply  so yeah

I  don’t really advise people to invest in altcoins because I don’t really trust most altcoins because anything can happen, Bitcoin is the only reliable coin which I always encourage people to invest in, I believe no matter how bitcoin dump it going to recover, but I don’t really trust those altcoins.
I think all coins are down and I think that’s what’s happening to SLP also the best thing you can do now is just to hold and wait for bull run, but am sure it will take time before SLP recovers because the supply keeps on increasing.

Your strategy sounds like a dca, that was a good start actually but the only problem is that you got unlucky but who would have thought of that? When we all know that axie was once a good game but I think the update and hacks happening around have totally ruined this game.

I feel sorry for those who invested a lot of money thinking this game will still boom more and also to those who spend so much time grinding only to farm as much as slp as they can. Now all of them simply cursed this game. It's been a long time since slp go down and I think it dips before this bear came. I don't think it can still recover. You can sell before the price dips more and invest more wisely next time.

for the matter of investing in altcoins right now is not the right time when the bears are hitting. and SLP is one of the altcoins that you should probably pay attention to before you invest there. i'm not saying SLP is not good but maybe you should be more careful when you want to invest long term in altcoins.
if indeed you have to invest in SLP try with a small amount first around $50 and try to do an analysis for the next few months


for this question i will answer all no one knows what will happen in the future.
my only advice is to be more careful when investing in altcoins at the moment

Investing in altcoins is also not too risky but invest only in top altcoins and stay away from lesser known altcoins, tokens of game projects like SLP. Honestly SLP had a very strong growth period when p2e was leading the trend in the market and a lot of people made big profits from it. But now I think is not the time to invest in it anymore, p2e trend is over and SLP will almost no more hype chance.
SLP as a token of a transient trend, it should be sold when we are in profit and not considered a long-term investment.

The SLP is now in a vulnerable position. SLP doesn't care whether the market rises or falls. It is constantly decreasing. Its joint project Axie Infinity has also dropped high value from ATH. If AXS can do better in the future again.  Then there may be some recovery of SLP with this. Otherwise the SLP does not seem to be in a good position

AXS price in the market is increasing +10% currently and SLP +4%, the rate of increase is different hence SLP has no effect from market recovery average increases +10% for almost all potential coins, SLP movement is very slow in market recovery phase so support is needed from AXS to release news on utilities to benefit SLP token holders.

In this case, you should learn how to wait for the right time to sell your SLP since the market is not really going well these days, it seems like you will gonna hold that for the long term if you wanted to gain some decent amount of profit from your investment. since you already bought some SLP from that price range, it's really reasonable for you not to sell it at a lower price just because you are scared of the price going down further. rather learn to wait and just be patient for the crypto market will recover soon and most of the Altcoins will increase their price after that.

This works well for popular cryptocurrencies, various deflationary coins, coins with strong fundamentals, etc. SLP is the type of coin where there is no guarantee at all that it will launch again and be worth at least half the price it once was. The developers have already taken quite a few steps to improve the tokenomics, but it's not causing any positive movement, and that's not a good sign.

It's to create another utility for SLP. The total issuance of SLP is always far bigger compared with SLP got burned. https://www.axieworld.com/en/economics/charts?chart=slpIssuance

There's no solution for this. The design is so bad caused by it's only relying with the new players that must have bought axie. The contract already issued and it's hard to control the inflation of SLP. The different thing when it was getting limited since the start.
This thing may not be happening. I doubt that if SLP can go up again. It will be going up but very slow.
inflation was eating the liquidity. People grinding to be dumped and that's it

Actually the way you invest is correct, by buying in stages. But the problem is that not all coins are good bought in stages, and unfortunately
I think you chose the wrong coin. If we want to invest in multiple stages like you did, only applies to top coins which are guaranteed to recover
when the bull market comes. Like Bitcoins, Ethereum and BNB are examples of coins that are worth buying gradually, because if we learn from
the history of the movement of the three coins, where the three coins have often experienced dumps, but it can always recover again and can even
rise to a higher price.

While SLP became hype because of the influence of the game Axie Infinity, which SLP is only of interest to people who play the Axie Infinity game.
If people don't play the game, I'm sure they won't be interested in investing in SLP, so don't buy SLP every time the price drops. Because there is
no guarantee that the SLP price will recover, even if it does recover, the increase will not be too high, even I doubt SLP can return to ATH price.
So I don't recommend investing in SLP, especially in a bear market situation, the risk is very high if we force an investment in SLP.

Currently, the game tokens are worthless and I think that they will be disappearing from coinmarketcap in the near future. Investing in them will no longer be profitable, I would rather invest in meme coins than p2e tokens at this time since they will no longer be profitable. You should sell everything and reinvest in top projects or else you will lose everything.

However the question is can this coin survive long enough in order to see bitcoin going up in value and as such bring the whole market up with it? Because I really think that is not going to be the case, a great deal of the coins that we have right now are going to disappear simply because there is not going to be anyone interested in them, and even if those coins may seem like a good investment at such low prices we must remember that many coins are created each year, which means that a coin that looks good right now will look awful a few years down the line and people will prefer to invest their money in new coins at that time.

$0.12? That's possible but I don't think that it will happen especially now that SLP's supply is already at near 40 Billion
Let's do a quick math.

The current supply of SLP right now base on Coingecko is at 39,950,978,613. Now you want to sell it at $0.12? If that happens, the market cap of SLP will jump to $4,794,117,433.56 which will make it on the top 19 spot base on market cap. Will it happen? Yes there is a chance but what are the chances of it to happen. Low chance or maybe 1% or even lower TBH.

Many got into the hype of Axie Infinity and many invested on it and right now having an impermanent loss including me. Pegaxy, even though has a high burning mechanism got the same fate as Axie Infinity. Went down even lower than Axie and now a Pega that is worth ~$2000 at it's peak is now just a dollar.

To answer your question.
SLP will recover again? Yes it will recover but not as high as your target goal. Maybe $0.01 is the highest that it can go and knowing that the supply of it is unlimited, it might not even reach a cent.
Should you invest again now? Your decision. We don't have the power to decide since it's your money. Some might say "You need to invest now because it is bear market" and some might say "You shouldn't because the hype is over already" and that alone will make you confused until you will be stressed. Decide yourself and don't ask others. In the end, it's your money not ours.

I never think to invest in this shit even when it was getting hyped. Hyperinflation is the worst problem with this game. This time people paid axie very very cheap compared with last year. The game is also a boring game. There''s no interesting stuff with this platform.
Old ponzi scheme that will be slowly dead.

Never ever recover again. If you are invest right now and you may get rekt again. Learn from your past experience and don't be so stupid to invest your money in this shitty token with no maximum supply.
Those farmers will dump on you.

The active player in axie ecosystem was not so big like last year. The unique players that came to the axie getting less and less. people who bought SLP potion has been decreased a lot. Im sure that if this is giving a very huge impact to the price of SLP. You have made a very bad choice by still investing on it during the bullish trend. Im sure that if you have been loosing a lot of your money. It's impossible to recover it again. Axie was also facing a huge hack a few months ago.
This is also draining the liquidity that owned by the team from the community. It may take decade or even more.
The axie team was also focusing to get reward to reimburse the investors as well. You have no choice other than hodl or cutloss it

SLP has already had its ATH around 0,21$ or 0,23$ if I remember correctly. Now it values a dust of a cent, reaching its lowest price recently.

I don't know if this investment is a good idea, I only know it's a very risky one, because you are relying on two main factors to make it work: Axie developing a smart system through Axie Origin game to increase SLP demand plus value and players must feel encouraged and incentivized to start playing Axie again.

Just to illustrate what is happening right now, there are some good news going on, although I can't say how impacting they are going to be:
Axie Infinity's SLP Burn Rate Exceeds Minting Rate for First Time Since August 2021 (https://u.today/axie-infinitys-slp-burn-rate-exceeds-minting-rate-for-first-time-since-august-2021)

I think SLP has seen its glory days  ;D.  Lots of investors had been turned off by the Developers' action in mitigating rewards which is why lots of them had turned their back on the project.  You can see the result as the price of SLP slowly decline until to what it is now.  Of course there is always a possibility for SLP to recover but I think it will really take long time since it needs the investors to forget their losses and trust the developer again in order for the demand for SLP to flock in.

I don't even see that they are active anymore when the market dump and SLP price drops drastically. Though I won't see a dying sentiment in this project, however, I couldn't see also its survival in the long-term as they are just built during hypes which are more susceptible to a dying scheme like others. That is why I don't encourage people to hold hyped coins but rather dispose of and sell them immediately when having them in our hands as they are really prone to such decline.

First of all, I'm really sorry for you. When I look at the current price and the price you invested in, I see that there is a real gap between them. Officially, the price has seen the bottom of the bottom. We don't know if he can recover and he can. But when I look at the price you invested and the current price, it seems that the project team has officially scored rugpull. When you buy a small amount, you can get almost the same number of tokens as your initial investment. You can even buy more. You can take out your losses with a little play. I hope you haven't invested a large amount of money. I recommend investing by considering the risks and doing your own research.

It is because of this that with the exception of bitcoin I do not recommend people to buy the dip when it comes to altcoins, it may seem to be a good idea as you are getting the coin cheaper and cheaper, but how many altcoins have disappeared since the creation of this market? Thousands if not tens of thousands, so it is important to always have this on the back of our minds so something like what happened to the OP does not happen to us.

it's a shame you bought SLP at a very expensive price, especially now the SLP price is at $0.0038,
of course it takes more strength to get back to $0.1 even new ATH, the thing you can do is to accumulate using capital again,
because the price could be SLP goes up to at least $0.05, maybe you can recover but it's not optimal

We are in a bear market right now so 0.004$ per that token is cheap, axie is successful and when the bull market comes you will still makes a good profit anyway, the best time to buy is still now, you will be buying more if bull season is near.

Things are not quite as you say once the bull market comes, there will be a lot of coins that recover and a lot of coins that will never recover. The p2e trend is considered over and it probably won't come back again, meaning the SLP will never recover. Buying p2e tokens now is very risky so we should focus on top altcoins as the chance of recovery will be higher than trending tokens.