SPS has been lingering around the sub-penny levels for a few months now. And with the recent positive shift in the cryptocurrency markets, SPS has now broken through its one cent value. There is renewed hope and vigor across the community as we enter the bull market.
Strong Whale Support
During its lowest point, there was an exodus of players and investors which lead to significant depreciation of asset values, including SPS. But there were still a few believers of the project who chose to stay and doubledown on their investments. Many of these whales gradually increased their staked holdings over the duration of the bear cycle. Them holding their ground is what stopped the total collapse of the value of SPS.
Time To Buy SPS?
I am hopeful that we are now past the bottom of the market, and that the momentum of the bull run will eventually shift towards smaller projects like Splinterlands. I think it's now time for us to do our part and stake our support for the project. The higher the value of SPS goes, the more visibility it will get from the larger crypto community. This will lead to an influx of new players and hopefully trigger the much-awaited flywheel effect.
And speaking of flywheel, there is a video from SteveR82 which perfectly explains this concept to the broader audience and potential investors.
The value of SPS during the recording of that video is around one and a half cents. This means that the current value of the token is still well-undervalued to even what everyone thought the floor was a few months back. So it's possible that there is still a huge potential for the future valuation of SPS considering today's current prices.
What SPS Truly Represents
SPS is the main token of Splinterlands and it is most likely the first asset that speculators would buy if they chance upon this project. Splinterlands has undergone a lot of trials and errors. And within the past year that Yabapmatt has taken over the company's leadership, a lot of changes that rectified past mistakes were implemented. I can say that the project has matured significantly compared to other startups that are just starting to unravel their game economies. For me, SPS is backed by the hard work of all the staff members who contributed to the project as well as the players and investors who still support Splinterlands and Yabapmatt and Aggroed's vision.
If you're new to Splinterlands and would like to give this game a try, feel free to use my affiliate link here. 👉https://splinterlands.com?ref=sudeon👈
Thank you for reading and see you in the battlefield!
It is true that with today's surge in Hive, SPS should be bought.
Thanks for sharing! - @zallin
Good Work, thanks for sharing!