Axie Infinity’s utility token SLP has seen outsized growth in the midst of this recent increase in market activity. Over the past seven days, SLP has pumped over 70% & roughly 100% over the last 14 days. We saw similar price action across Sky Mavis’ other core tokens (AXS & RON), although to a much lesser extent.

A sudden increase in volume caused the spike, most likely in preparation for the eventual announcement from Binance that stated the CEX would introduce SLP perpetuals on October 31st. On October 29th, the trading volume for SLP increased by 762% overnight, followed by a further 179% on the 30th ($6.95M to 166.88M over the 48 hours leading up to the announcement). Trading v