Recently AXS has been outperforming almost everything, including SLP. The metric of how many SLP one AXS token costs is extremely crucial for the Axie economy because it impacts the breeding fees, price of axies, and more.
So it's important to watch this metric as Axie Infinity players even if we don't trade it (not a "listed" pair). It looks ready to rise to a new all time high of 450 SLP for each AXS before falling as low as 225 SLP per AXS. This fall should probably be expected to lead to a very long and boring consolidation, similar to what ETH VS USD showed recently on the daily time frame (see our recent idea on ETH, where we predicted the triangle pattern long before it happened).
For breeders, this is very good. We can get AXS to breed easier. For SLP farmers, this is even better. You can funnel SLP earnings into AXS and hold, waiting for the next leg up. For traders however, this spells disaster since AXS could decrease to make this move happen.
So it's important to watch this metric as Axie Infinity players even if we don't trade it (not a "listed" pair). It looks ready to rise to a new all time high of 450 SLP for each AXS before falling as low as 225 SLP per AXS. This fall should probably be expected to lead to a very long and boring consolidation, similar to what ETH VS USD showed recently on the daily time frame (see our recent idea on ETH, where we predicted the triangle pattern long before it happened).
For breeders, this is very good. We can get AXS to breed easier. For SLP farmers, this is even better. You can funnel SLP earnings into AXS and hold, waiting for the next leg up. For traders however, this spells disaster since AXS could decrease to make this move happen.