SPS Price is up after Reward Multiplier but still at discount

The last week has been pretty good for the Splintershards (SPS) token prize in the game because we have seen a positive movement in price. It is because we have seen the recent change in the game in which it is required to have a certain amount of SPS tokens in the game account to be eligible for the reward multiplier. This is a good change in the game which I believe should have been implemented before but it is OK since finally we have it and that has given some positive changes in the token prices. SPS is a highly valuable token based on its use case but it is undervalued because of the current market situation which I don't think will last so long.

People are saying that we are heading toward the bull market cycle and that means probably in the next year we are going to see even better prices for crypto coins. It is difficult to predict what prices we are going to see but for sure there will be a positive movement and that is what matters in the market. for example, if I talk about SPS then it's all time high price was almost $1 and many of us would expect to be there again. it may take a long which is obvious but I am sure that it will happen someday.

SPS Price

Here is the price chart for the last 30 days and you'll be able to see that the prices are showing in green color however there has been significant movement in July. Even now it is going up because the demand for SPS has gone up due to the recent change and I am sure this way it is going to be even more on the higher side. The below chart looks good and I believe everyone should be happy whoever is holding SPS in their portfolio but I'm not happy because I wanted to buy more and now I'm getting fewer tokens for the same value of money I invest.

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Price Stats and Sentiments

The cover of somebody is the prize growth also looks good as we can see that there has been over 44% of price increase in the last 14 days however in the last seven days or so the increase is beyond 25%. This is a great percentage I think and it is going to go even higher I believe so do not get surprised if you see the number going up and more green color around. This data I have taken from Coingecko and as far as the sentiments are concerned then we will see that 50% share between good and the remaining 50% says it is not good so the community is divided into two parts.

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If we look at this sentiment and the price growth then also I think the current price is not less than any opportunity and it is good if we can buy more at this price. I am still buying and will continue to buy because I believe that this price will go beyond ten cents pretty soon as the SPS is limited and technically you do not have more SPS for everyone.

My Holding

As I said that I continue to buy power up almost every day because the goal is clear I want to increase my holding. Today I have powered up 114 tokens in total and with this now I have over 42k SPS. This way I'm getting closer to my immediate goal of 16,000 SPS and I hope in the next few months I should be able to do this.

There is some reduction in the APR and it is because a lot of people are parking their sps in the game account so when more people deposit their tokens then it might affect the staking APR. The API is good even at this point but I expect it will be dropping further because more people would be depositing their tokens and this count is going to grow significantly.

Unstaking is not the plan

I have never started this process since the beginning because my goal is clear and there is no plan to unstake anything. I'm focused on my goal and will continue to invest and reinvest to grow my holding because this is the strategy that has helped me in the past to grow the account and I'm going to follow the same with no change in the strategy.

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I play in the silver league at the moment but based on my holding I want to see in the gold one league and for that, at least 58K SPS holding is required. I'm trying to achieve that as soon as possible and then I will be more familiar with the Gold League because that is what I will be able to do easily which will also bring better rewards for me. the game is so much fun and on top of that reward is just an amazing part of the game so with such strategies I am trying to multiply my word because now we reward multipliers SPS is one of the key components.

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(Splinterlands is a fantastic play-to-earn game and if you like to join then do it through my affiliate link shared below-)

https://splinterlands.com?ref=reeta0119

[Images are from the splinterlands game wherever not mentioned]

Thank you so much
Stay Safe

Posted Using LeoFinance Alpha