AXS Token Axie Infinity made an impressive rally last week and reached a whole new high at $19.60.

Small Love Potion (SLP), a character in the Axie Infinity (AXS) ecosystem that has appeared in games as a reward for users, also takes a three-figure win. The SLP can then be used as a currency to breed Axis, non-fungible token-based beings that live in the Axi of Infinity universe.

SLP/USDT 4-hour chart. Source: TradingView
Data from Cointelegraph Markets Pro and TradingView shows that the SLP price rose 102% from $0.127 on July 1 to a weekly high of $0.257 as new users flock to play to win digital pet fighting games and increase Axie’s earnings. An endless ecosystem to new heights.

New users increase the demand for Axie breeding
The success of SLP is significantly influenced by the general growth and adoption of Axie Infinity, which has grown significantly since the protocol moved to the Ronin sidechain on the Ethereum network in early May.

A recent report from Delphi Digital highlights that interest in the Axie ecosystem has grown “significantly since the launch of Ronin,” with the largest growth beginning in the Philippines, Venezuela, Cuba, Qatar and the United Arab Emirates around the end of April.

Google Daily Interest and Axie Infinity Geographic Division. Source: Delphi Digital
The surge in interest has led to an influx of new users over the past couple of months, as evidenced by the rise in daily active users, unique Axie owners, and the number of Discord members.

Social growth statistics from Axie Infinity. Source: Delphi Digital
As new users enter the ecosystem, they require more Axes to play games, which has resulted in increased demand for SLP as required in the Axies breeding process.

A game that brings users daily income
One of the reasons for its widespread use for certain geographical reasons is largely due to the economic struggle of the population in these areas.

With users who can earn SLP on a daily basis through games or SLP breeding, some members have been able to make more money with Axie Infinity than college graduates at work.

Breeding can also be very profitable for users lucky enough to get Mystic Axi, a rare form of Axi that now has a minimum price of 30 Ethers, while the original stories in the Axi Universe can get close to 270 Ethers.

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As a result of the ecosystem’s growth since early May, Axie recently crossed $25 million in daily sales, with more than 50,000 NFTs sold daily.

Axie Infinity volumes in US dollars vs. sales figures. Source: Twitter
To help understand the importance of revenue growth from the Axie Infinity ecosystem in context, the protocol has collected more fees over the past week than all other crypto apps combined.

Income from the seven-day protocol. Source: Twitter
While the recent growth of Axie Infinity is impressive, it remains to be seen whether the current pace can be maintained going into the future, and the long-term success of SLP depends on the sustainable expansion of the Axie ecosystem.

Source: CoinTelegraph

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