Have we hit a turning point for $SPS?
After months of turbulence and a constant and consistent drop in price it seems that SPS is slowly gaining value again. There have been a lot of changes in the splinterlands eco-sytem over the past few months aimed at steadying the economy.
We are also seeing some signs of life in the wider crypto market. Is it a combination of both or have we just hit the bottom and players and investors have found their value point?
Personally prices sub 1c are heavy stacking prices and if i had the spare funds would like to push for 1M SPS as my long term target. As it stands I'm a long way from that but have been able to steadily stack a couple thousand per week with my account earning about 6 SPS per win, land producing about 400 per week and interest at about 40 per day. Like everything in crypto it compounds over time. The more that you can put away yourself it will keep growing in the background.
Recent changes.
- Glint store.
- Hall of legends.
- Voucher shop.
- Reward card unbinding.
- SPS foundation.
- SPS validators near completion.
I do think that the game suffers from the wider crypto market to a large degree. When the market s pump we all have more money to play around with and to pump back in to the game itself. If we saw Hive back to $2 then a lot of players would be hitting the markets and buying up more assets. The same goes fora ll the major cryptocurrencies as most payers are invested across the board.
The key to marketing in crypto has always been price. If you can get those prices moving in the right direction then people take notice. Social media heats up and more money follows as it's all about hype and not substance in the wider market. We're just lucky on hive that there is actual substance behind our apps.
Splinterlands is almost seven years old and one of the oldest and most successful games in the crypto industry. t's had a lot of issues in the past couple of years and a lot of changes that i have not been a fan of and still an not but it has survived which is the first step.
That's a step further than most crypto projects have gotten which is a big plus. Survival is the first step of success and the team have managed to ride through some tough times this year. If we do hit a bull market then i hope that they have learned lessons form the past and manage the funds a lot better to ensure further survival and development.
The community seems to have turned a corner so hopeuflly that is a sign of things to come.
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I think it's generally unwise that people have to wait for the market to start blooming so they can start buying assets to play the game, I get they're scared and all that, but how would they make profit?
For me, I think the recovery of SPS is mostly due to the recent positive outlook of the market.
It's wise to buy them now at the bottom but splinterlands prices have only dropped over the past two years.
If 20C Hive can hit $1 then i can get 5x as many splinterlands assets for the same price.
It's hard to time these things right. But nice if you can hit that sweet spot.
I think splinterlands assets will go up as the price of Hive is going up as well. You're right, it's difficult to time these things, one can only be lucky
good to SPS starting to rise and DEC slowly heading back to peg too. Once DEC hits peg SPS could really go up
It will be interesting to see if they can bring it back to peg and get that mythical flywheel started.
Especially if we hit a nice bull run and prices rising at the same time.
aftersound did a video on youtube discussing how much DEC the company own and how it has reduced dramatically. Once they run out they will need to burn SPS for credits. I think they flywheel did already kick in briefly before DEC dropped
Hey @niallon11, I can assure you it's not just SPS that's moving vertically, take a look at Hive.
WOOP! WOOP!
Great to see it.
It's been too long since we saw these little pumps.
Looking forward end of sps distribution to see a big pump!
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We might be seeing it going up further in price value actually
I am betting on SPS reaching at least 27 cents in the coming bull market. Peak market cap for SPS based on Coingecko is 132 million, right now it is at 4 million if it reaches it again it will be x33 or 0.008204 * 33 = 27 cents
Bull markets tend to be irrational so it might actually go higher and reach it's all time high of $1.07
It's nice to hope.
I would love to see $1 sps. That would be amazing.
Thanks for sharing! - @yonilkar
New Promo Card Battles, Not SPS price analysis. This post might fit into the social media challenge but not into the community challenge. So I will suggest you withdraw your participation from the community challenge, share this on social media challenge, and also pay attention to the rules in the future. Thank youHey @niallon11, to participate in Splinterlands Community Engagement Challenge You must follow the rules, the week challenge theme is:That's my bad.
I entered it into the wrong post. Sorry about that. I'll remove and put it in the right place.
Just a slight accident. Thanks for the heads up.