SOLOXCOIN Price(SL)

The global cryptocurrency market cap now stands at $0.96T, down by -0.23% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $19,727 and $20,468 over the past 24 hours. As of 08:00 PM (UTC) today, BTC is trading at $20,134, down by -0.43%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include GMX, NMR, and SLP, up by 19%, 17%, and 10%, respectively.Top stories of the day:OpenSea Monthly NFT Sales Fell Over 60% In Q3Celsius Network Co-founder Resigns Amid Bankruptcy ProceedingsDOGE Explodes 8% Daily on Musk-Twitter NewsAlgorand Foundation Announces Its Support for TrustFidelity’s Ethereum Index Fund Raises $5 Million In SalesElon Musk Agrees To Acquire Twitter With Initial $44 Billion To Avoid DisadvantageMarket movers:LUNA: $2.5278 (-0.90%)ETH: $1351.24 (-0.26%)BNB: $293.3 (-1.15%)XRP: $0.4979 (+3.21%)ADA: $0.4305 (-1.17%)SOL: $33.89 (-0.67%)DOGE: $0.0651 (+0.48%)MATIC: $0.8473 (+0.92%)DOT: $6.39 (-1.54%)SHIB: $0.00001139 (-1.04%)Top gainers on Binance:GMX/BUSD (+19%)NMR/BUSD (+17%)SLP/BUSD (+10%)

SNEAK PEEK The mystery of the whale wallet that amasses 50% of the total supply of the in-game token of Axie Infinity, Smooth Love Potion, remains unclear. The massive whale wallet is not owned by Axie Infinity or the firm behind the most popular P2E game, Sky Mavis. Michael Benko was the first one who brought this whale wallet to attention on August 25. Were you aware of the fact that a single massive whale wallet holds more than 50% of the circulating supply of the Smooth Love Potion token? Well, the Smooth Love Potion token is the in-game cryptocurrency of the famous Play-to-Earn game, Axie Infinity. The mysterious wallet, which was brought to everyone’s attention by Michael Benko, a player and tech Co-Founder of Axie Infinity, has been silently accumulating SLP tokens worth billions of dollars for around a year now. At the time of writing this article, the anonymous whale wallet is holding a bit more than 20 billion Smooth Love Potion, which surpasses even half of the total circulating supply of the token. Benko showed his concerns over the whale wallet amassing SLP tokens at this rate, as because of so many SLP tokens gathered in a single wallet, there are increased chances of havoc on the ecosystem of the game. He released a statement addressing the fact that in case the holder is a single individual, then this will give the person a significant amount of control over the game’s economy. The SLP token is earned by the Axie Infinity players for accomplishing the daily missions and fighting with other players in the game in the Arena mode or Adventure mode. In accordance with the latest season update of the game, an average player can generate around 10 to 70 SLP per day. Hence, it emerges as a notable concern when an individual holds 22 billion SLP in his wallet as he carries the power to manipulate the price of the token. As per the statement released by the Co-Founder and COO of Sky Mavis, Aleksander Larson, neither Axie Infinity nor Sky Mavis holds any of the game’s cryptocurrency. Instead, he mentioned that players create all the tokens that are in existence today. In addition, Gabby Dizon, the Co-Founder of Yield Guild Games, one of the major DAOs for Axie players, revealed that YGG is not responsible for owning the wallet. The post Whale wallet holding 50% of Axie Infinity’s SLP supply remains a mystery appeared first on Today NFT News.

Axie Infinity (AXS) and Smooth Love Potion (SLP) have both broken out from their respective descending resistance lines, but are still facing horizontal resistance.AXS has been increasing since reaching a low of $11.85 on June 18. While the price broke out from a descending resistance line shortly afterward, it has failed to initiate a significant upward movement. AXS accumulates below resistanceRather, AXS has made several attempts at breaking out above the $18 horizontal resistance area, all of which have so far been unsuccessful. However, resistances get weaker each time they are touched, so an eventual breakout seems likely. This possibility is also supported by the daily RSI, which has increased above 50. If a breakout occurs, the next resistance for AXS would be at $28.AXS/USDT Chart By TradingView The two-hour chart shows that the decrease after the rejection has been contained inside a descending parallel channel. Such channels usually contain corrective movements. Moreover, it seems that the AXS decrease has taken the shape of an A-B-C corrective structure. Giving waves A:C a 1:1 ratio would lead to a low of $15.81. This would also take it to the support line of the aforementioned channel.So, the most likely scenario seems to be a short-term decrease before another eventual attempt at breaking out.AXS/USDT Chart By TradingView SLP breaks outTechnical analyst @_Mayb3e tweeted a chart of SLP which shows a short-term breakout. Source: Twitter Since the tweet, SLP has resumed its upward movement and broken out from a longer-term descending resistance line. Next, the closest resistance area is at $0.006. If SLP manages to break out above this area, the rate of increase could greatly accelerate due to the lack of further overhead resistance.The daily RSI supports this possibility, since it has increased above 50 and does not show any bearish divergence.SLP/USDT Chart By TradingView For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click hereThe post Axie Infinity (AXS) and Smooth Love Potion (SLP) Show Signs of Life After Long Downtrend appeared first on BeInCrypto.