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