The Splinterlands governance token SPS has seen some uptrend in the last weeks. The token was launched in July 2021, has been on a run at first and then some down trend. Now we are seeing so upwards action.
More info about the token in the SPS whitepaper.
Here we will be looking at:
- SPS transferred to BSC
- SPS transferred to Hive Engine
- Top accounts that transferred out SPS
- SPS staked in game
- Top accounts that staked SPS
- Overall supply, liquid vs staked
- SPS Price and Market cap
The period that we will be looking at is July 26, 2021 till February 15, 2022.
SPS Transferred Out Of The Game
Here is the chart for the both, transfer to Hive and BSC. This is sort of transfers to exchanges for the token.
The orange bar is BSC and the pink one Hive.
A lot of movements in the first days, a downtrend afterward, and a gradual increase towards November. Some small downtrends since then again. Overall, quite a steady volume in the period.
Note that transfers out of the game doesn’t mean that these are claimed and transferred tokens. Transferring tokens between markets, arbitraging, etc is taking a big part of this. The supply of the SPS keeps increasing and the volume for transfers as well.
Looks like the transfers to Hive Engine are now catching up and are on the same level or more then the transfers to BSC.
Note on the transfers. As mentioned above this is sort of transfers to exchanges data, but its not net transfers. There are also transfers IN the game, from the exchanges, and the overall result in SPS transferred out is lower then the above.
I’ll try to include the transfers IN in the future posts.
Top Accounts That Transferred Out SPS
Who is transferring out the most? Here is the chart.
This is a chart for November only.
@toni.point is on the top here by a lot followed by @sm-usd. Some of the transfers above are most likely due to arbitrage between Hive Engine and PancakeSwap, where users use the game as a bridge.
Staking
What about staking? Are players staking some SPS? Here is the chart.
A total of 280M SPS staked at the moment. SPS staking has been constantly going up as players receive the airdrop.
Note: the above is a net staking, meaning staked and unstaked SPS combined. The data is collected from the blockchain. There is no record of cancel unstake operation and I have made some adjustments for it. Its not a 100% accurate data.
Top Accounts That Staked SPS In November
Who is staking the most?
The @spswhale account is on the top here with more then 6M staked. In the last report on the no.1 spot was the @blockchainff account, meaning there has been some changes in the top positions.
An overall data for the top accounts that hold staked SPS can be find on this API.
Overall Supply, Staked VS Liquid
Here is the chart for the overall supply and the staked vs liquid tokens.
Again a note that the staked share is not a 100% accurate.
We can see that the SPS supply keeps increasing, started with 200M and now is at 524M. Approximately once per month there is an expansion of the supply, and this will be happening in the following five years until it reaches 3 billions.
On the staking side, the amount of tokens staked has also been growing, and at the moment there is 280M SPS staked.
Here is the pie.
A 53% of the SPS supply is currently staked.
There has been an expansion in the supply of SPS, but also a lot of staking that has increased the share of staked SPS.
SPS Price and Market Cap
At the end the price chart.
These are average daily prices.
SPS has spiked in the first few days to more than 0.7$, then down to 0.2$. Then up to almost a dollar and a slow drop since then reaching 0.1$ in January. In the last days there has been an uptrend with the SPS price reaching around 0.15$.
The market cap for SPS looks like this.
A similar patterns as the price, with the exception of the last month where we can see a bigger growth in the SPS market cap. This is because of the combination of newly added supply of tokens and the increase in price. The SPS market cap is around 78M now. At it height it was around 210M. Having in mind that some of the top games in the space are in the billions in market cap we can say there is a room for growth in SL even with all the new supply that will be released in the following years.
All the best
@dalz
Posted Using LeoFinance Beta
I know that the Splinterlands team has some cool things planned for SPS. We have been debating whether or not to keep staking our SPS (even though there has been quite a bit of prices fluctuation) or exchanging it for DEC (to buy cards with.) A few days ago we decided to just go ahead and keep holding/staking our SPS because we know the future will bring exciting uses for it!
One of the things I'm most excited about is to be able to manually select the players I want to stake my SPS on, because I think it will be a very cool feature to get to pick a "favorite" player and earn rewards from their performance! It also provides a very good usage for the face that match data is stored on the blockchain, because we will be able to create system to analyze the data and find players to stake SPS on with the highest potential for return!
Dang so wild what some of these accounts have in terms of SPS!
Only 6M :)
Excellent post!! In my opinion is that, although the volume is increasing day by day, the over 50% stacked remains healthy. That means that people trust the project! Take care!
Yep, staking is almost all the time above 50%
SPS token has been getting alot of traffic and many people are registering on it.
Posted Using LeoFinance Beta
That's a pleasant data to look at! Very nice overview, thanks!
!1UP
Tnx!
Very nice analysis!
I think that at the end of the year, everybody gonna say "I wish I bought more when it was 0.15$" 😄
There are so many things coming to splinterlands this year, it has to go up
Is that 6 million SPS their total balance, or just what they staked in a single month haha?
Posted Using LeoFinance Beta
Its the staked sps balance only, exc liquid sps
I always tell myself that all these good things in Splinterlands are happening without any serious CEX listing. Imagine the days when SPS is traded everywhere....
Thanks for informative post as usual ^^
Nice analysis there. Keep it up.
Hope to get more of this wonderful analysis.
glad to see @marianaemilia in there!!
Wow ,this is great, am very sure that at the end of 2022,the outcome will be great.
Fun fact, SPS would have to pump to $7 to match the current market cap of AXS… so there’s definitely a lot of room to grow. I also hope splinterlands implements a burning mechanism with the lands update
You laid and broke down the stats clearly enough for one to see the activities going on in Splinterlands since it’s inception . There is a lot of room for improvement as regards Splinterlands in the future as more and new supplies will be released in the following years to come .
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Great post
Posted Using LeoFinance Beta
sps data is not bad in anyway. i wished i have more funds to buy more
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Quoting this piece of information for my future reference. Thanks!
Posted Using LeoFinance Beta
Hey @dalz, could I chat with you about something? I'm on Discord by the name knowhow92 #4050 or let me know if you prefer a different platform!
Hey sure, find me as dalz#3699
Not sure why but can't send friend request. Could you try adding me ?