This time the price for SPS is too low, which I think is the lowest I have ever seen. I am not sure why its low but its obvious that more selling is happening in the market. Honestly, I don't see any reason to sell SPS at this price because its too low but it looks like Whales are not going to stop their selling. I have been buying SPS continuously for a long time and now I am not sure what should I do. Although I want to accumulate more if its going to drop further then better wait and buy later because this can get me more tokens.
This is the price chart for SPS as of now and this price is almost 1 cent. Can you imagine that this is the same token that valued almost 1$ at some point in time but now its 99% down? A matter of worry because the investment is going down and I never expected its price to drop like this. Its market and fluctuation is obvious but this is not the situation. Its hard to say anything about the SPS price now because it also goes down below $0.01 looking at the current market sentiments. Its the governance token of the splinterlands game and comes with certain additional benefits but I think the pricing is important for any coin in the market. If the holders keep on selling then prices are bound to go down and people will lose interest.
At this point, I have decided that I will wait for some time and will put a pause on buying. This is because this way I can see if I can get SPS at an even lower price. Who does not want to buy at the lowest price and even I am doing the same. While I am going to put a pause on buying I will continue to stake whatever I earn through my holding. If this price gets stable here then I will start buying again but not unless the price looks in the stable range and no matter at what price it gets stable.
I have some SPS points with me that I am going to power up because there is no point keeping these tokens in liquid form and the moment I deposit them in my account then it starts earning APR. Currently, this app is more than 13% which is surely very good and I don't want to miss this opportunity to earn as much as possible because ultimately higher token count means better rewards in the game and this is how I'm trying to build my sps folding in the game. The token utility is very good because we have many things to do within the game ecosystem and one of the best use cases is linked with the game reward which means the higher the SPS holding the higher the reward multiplier you are going to get which will result in the better reward.
The league I play gives me a boost of approximately 8X but I need to grow it more and hope that once I reach 200k SPS then this will improve. It will be good for my gameplay but yes, it will not be enough if I continue to play in champion as that requires a bigger count of SPS. I just hope that the SPS price improves so that people don't lose interest in the game and in the upcoming bull run we may also expect a lot of new players to get onboarded.
Thank you
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do the tech- fundamental analysis to see where it is in the cycle now
Fundamentals are strong but I think more whales are selling which is resulting in price drop
It's really disheartening to see SPS hit such a low price, especially considering its past value. I've paused buying basically anything too, hoping for a better entry point. Powering up seems wise for now, given the game's utility.
I agree what you say and I am increased the stake with hope that it will recover. Hope it happens
Wishing you the best of luck for it to happen bro
That drop shows just how closely it's pegging to Hive's price really. If hive goes back to $1 we would see SPS grow as well. The big issue is everything on Hive is just dying while legit hundreds of thousands are blasted away on stupid promotions that bring no value back in. It's a sinking ship at this point sadly until the DHF gets corrected.
I also think the same that we are spending a lot of money through DHF and this is draining the pool and also affecting the hive price. Hope hive goes back to $1 and sps value recovers
That's the ideal price that the $CENT token aimed at.
Yes, still fresh in my mind the time $SPS reached $1. I also didn't expect his low price. Nevertheless, just like you, no plan to sell the token. 100k might be my new goal this time. Looking forward to the planned SPS chain.
Agree mate . I did not expect this price and now no point to sell so it's better to buy and build a better holding. You never know know in Crypto. Sometimes taking more risk can be more profitable
Even a bounce to ten cents would be profitable.
!PIZZA
wow how low can we go. this is now 1 cent. my bag wants to cry TT
Even my bag is 😭 at this price bro
o.o ya i dont really know. someone tell me sell all but i dont think its the best idea. kinda ride or die at this point
The price can only improve if we get additional influxs of capital and players to increase the mkt cap if the mkt cap stays the same no the tokens will go down bc of inflation unless there is a big burn. Until they are all distributed we will have downward pressure as well as selling from say land etc like I sell a bunch each day from my land and stake my lp earnings so I do both. Its important to take profits to me especially when things are not certain and change alot as they are now im cashing out my profit cash flow to put in less correlated investments with cash flow to be able to use that to buy when the times are right.
Thank you!
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~70 players in modern champions league, same 5 people in discord every day, unless they fix the NPE everything is going to 0. As it stands they are still implementing proposals that will have a negative effect on this. Should have just left it how it was before soulbound cards etc and brought in the anti bot measures, at least there was an incentive to buy cards and play back then.
I stopped buying SPS for a long time. I now only collect the SPS from playing the game or from the pool.
I don't see any sign that SPS can go up in near future. All the proposals/changes are making the game more challenging to attract new players.
$PIZZA slices delivered:
@rzc24-nftbbg(2/5) tipped @alokkumar121