Swing in price of Splinterlands assets, due to the increase of price in HIVE!
Chaotic moments almost seemed to be fade away with the recent pump in the crypto market. Seems like as if this this is where things will start to get interesting for the crypto community. While with this recent buzz and the pump in crypto there seems to be a ripple effect in place. Which has shown some very nice impact on few altcoins. Hive is one of them and we have seen it rise to almost 37 cents in the last 48 hours or so. Which have made some significant impact on few of the assets related to the eco system of hive.
Splinterlands got affected by the recent pump! Seems like it is corelative with the price of hive. More the price of hive goes up, the value of the assets related to it follows. Regarding that, let us take a look at my Splinterlands assets and few of other prospects of the game.
Validator Node License
Validator node licenses will play a significant role once it goes main net. Currently, purchasing one license would cost around $2500 worth of SPS and in addition 500 vouchers. While purchasing them at the secondary market Hive-Engine would cost around little over 2900 HIVE at current bidding. While there are going to be updates in all three quarters of 2023 as per the update of Splinterlands which has been shared recently. Which given it even more reasons to hold one for the longer term as an investment,
Currently, I own two validator nodes licenses which is giving a return of 22.2 SPS per Node/day and 4.0 Vouchers per Node/day,. To summarize I am actually getting 44.4 SPS and 8 vouchers everyday.
How the price of HIVE effected the price of node?
Few days back as you can see in the chart below the price went down as low as 2400 HIVE per node in the secondary market Hive-Engine! Which at the market price of HIVE ($0.28) made the price of node be around $600-$700 per node. Believe me if I had enough free money sitting in my account, I would have jumped and bought at least couple of them in that price range.
Since the price has spiked and currently one license is worth over $1000. With just the spike of hive with few cents the price almost raised to 40%. And this is in just the value of the license. Let alone the returns that are being given by this node in going to indefinitely. Owning one of them would be worth it in the long run.
Image source
Price of Splinterlands Cards
With this recent surge of HIVE price and the upcoming scarcity of Chaos legion cards (since packs are being burned everyday) has shown some significant changes in the value of cards. I am not sure if and or exactly these are the reasons for my card value to increase but I do not see any other reasons for this to happen. But regardless,, holding onto cards of chaos legion or other sets of cards, there are going to be significant changes which will give much more utility to its users in the coming days.
My card values has increased almost 20% during the last 48 hours or so!
With the next update season rentals which is going to hit the game in Q1 things will change for good. To start with maintaining the set of cards for a owner is quite a hassle. Since there are plenty of users who does not have enough time to play their decks due to several reasons. This new update would give them a chance to give out their deck for the whole season and just sit back and enjoy the juicy returns. At current situation it is not really possible since every card of the owner does not goes out to rentals and constant updating of price into the rental market is also an issue.
So a lot of new features are going to be introduced and things will look pretty good for both card holders in the coming days.
Image source : SL Discord
Overall price of other assets
Although, nothing significant has been seen in the price of other assets of Splinterlands. SPS still hovering around 2-3 cents area, DEC hovering almost at 50% pegged value and land is also moving at a decent price till now. While since the price of HIVE has increased a little the price of Chaos Legion packs has seen some increase in terms of dollar value. I suppose once the packs runs out, things are going to look a lot different for us all.
What I am expecting, once we get to see the bull run?
The situation is not really going to be the same for us all. Once the bear market slowly starts to fade away, bull effects are going to be seen in our portfolio. Holding onto them the assets of ours is probably the real challenge out in here.
Nobody clearly has any idea when and how the bull market will be seen again in the crypto market. But once the market takes effect in positive side many people will see the light which they were not expecting it all. Probably many new millionaires are going to emerge in the next possible bull run.
For me, if I had enough savings up till now, I would have slowly started to get in on my desired crypto and just wait till the bull market takes a hit. No financial advice here just sharing my POV regarding the current situation. DYOR!
Best regards
Rehan
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We can see how much the cards were on sale before this pump!!!
Well much more exciting it is going to get in the coming days ;)
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