Axie Infinity Whale Holds Over Half SLP Tokens: Players Worried About Market Manipulation
The Axie Infinity community is on edge as a single, anonymous wallet holds a significant portion of the Smooth Love Potion (SLP) supply. This has sparked concerns about potential market manipulation and the long-term stability of the token. Is this whale a threat to the Axie Infinity ecosystem? We delve into the situation and explore the implications for players.
Mystery of the whale wallet holding 50% of Axie Infinity’s SLP supply
The source of the concern: a single wallet possessing over half of the circulating SLP tokens. The sheer size of this holding raises questions about the holder's intentions and their potential influence on SLP's price. This concentration of tokens puts the community at risk. A single wallet holding more than half the SLP token supply might wreak havoc on the token’s price action.
What Else Does This Whale Hold?
The mysterious wallet also holds 5.2 million AXS tokens, Axie Infinity's governance token, adding another layer of complexity to the situation. This significant AXS holding further amplifies concerns about influence within the Axie Infinity ecosystem.
The Numbers: A Staggering SLP Hoard
On Wednesday, the anonymous whale wallet now holds a little over 22 billion SLP – more than 50% of the total circulating supply of the token. This massive accumulation has naturally caused alarm bells to ring within the Axie Infinity player base.
Tracing the Whale's Movements
According to a report by Techno Blender, the whale sent billions of SLP tokens from a Ronin Binance wallet into an anonymous wallet. The wallet in question fuels further speculation about the whale's identity and motives.
Player Concerns and the Future of SLP
One player interviewed by reported anxieties over price manipulation and its impact on their earnings. The crypto whale wallet holding an incredible 22 billion Smooth Love Potion (SLP) tokens, the in-game token of play-to-earn game Axie Infinity, has been identified as belonging to crypto, adding another layer of intrigue to the saga. The community is eagerly awaiting further information and hoping for transparency to alleviate concerns and ensure a healthy future for Axie Infinity and its SLP token.