Small Love Potion (SLP) price doubles as Axie Infinity user growth explodes

[ad_1] Last week, Axie Infinity’s AXS token went on an impressive parabolic run and hit a new all-time high at $19.60.  Small Love Potion (SLP), a token in the Axie Infinity ecosystem that is minted through gameplay as a reward to users, also broke out with a triple-digit gain. SLP can then be used as a currency to breed Axies, which are nonfungible token-based creatures that populate the Axie Infinity world.  SLP/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets Pro and TradingView shows that the price of SLP surged 102%…

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How the NFT market leveraged blockchain tech for explosive growth

[ad_1] It’s fun to talk about nonfungible tokens, or NFTs, because they are the perfect example of how the impact of blockchain technology in people’s lives goes way beyond the financial market. As we could see in hundreds of headlines in the past few months, they have gripped the world’s attention because they are a new manner of interacting with culture, music, sports and the media. This article will clarify what NFTs are, how they work, how the NFT boom started, and why blockchain technology has made it possible for…

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Bitcoin Average Growth 100% Year

[ad_1] Note: This article is not investment advice and is for informational purposes only. Do your own research. With its fixed supply, open-source software and peer-to-peer (p2p) structure, bitcoin is the global money of the people, by the people, for the people. What Is Bitcoin? There are countless responses to this simple question and bitcoin analogies are plentiful from bamboo to mycelium and, most relevant for this article, gold 2.0. For people unfamiliar with bitcoin’s attributes, the following infographic by Bitcoin OG Wences Casares is useful: Note: Bitcoin is made…

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Pros say Bitcoin’s ‘very healthy’ correction ‘builds ground for more stable growth’

[ad_1] Bitcoin and the wider cryptocurrency market took a beating in the late ho April 22, and intense selling saw (BTC) price dip below $48,000 in a move that came as a relief to quantitative analysts like PlanB who were worried that the price growth was showing signs of being inorganic.  A variety of factors have been identified as being the cause of the drop in price, including an overcrowded futures market and heavy selling activity from small- to medium-size whales. Aside from the activity of whales in the crypto market, the most…

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DeFi institutional adoption is booming but gas fees hinder growth

[ad_1] Panelists at a DeFi-focused talk held at the BlockDown conference on Thursday expressed their optimism at the past and future growth of decentralized finance, but highlighted the hurdles to adoption due to congestion on Ethereum. The panel, titled “DeFi’s newest waves,” featured Anton Bukov, co-founder of 1inch Network, Ajit Tripathi, head of institutional business at Aave, Hyung Lee, CEO of B.Harvest, and Eric Chen, co-founder of Injective Protocol. The panel was moderated by Cointelegraph’s technology editor Andrey Shevchenko (yours truly). Bukov characterized the current crypto cycle as somewhat more…

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