A Discussion of the SPT token and my 100,000 goal! 20% of the way there!

Locking Value In!

Good Morning!
Today, I wanted to discuss one of my goals - largely to keep myself accountable, but also to ponder on the possibilities of stacking the SPT Token.

Straight away it's worth asking - What is it? It's the SPLINTERTALK token, and while it is not officially promoted by Splinterlands, it does form part of the game's options of earning airdrop points at 1/4 of their stack. The speculation is, however, that in the future, they might have some more tangible use - and that's why it's not a bad idea to sit on a small stack and watch it grow! My goal for SPT is to stack 100,000! It's a big number, but today I'm celebrating as I have hit the 20,000 mark! (20,576 to be exact!) - that's 20% of the way there!

Let's have a look then at the Tribaldex chart - you can see it isn't the most interesting reading, as the line is pretty flat. Way back on March 22 (gosh, was that really only four months ago?) you can see the price is 0.0020 per SPT. It went through a bit of a dip, and it is trading today between 0.0023 and 0.0024. I guess given the broader market, it's not doing too badly!

With that being the case, my stack is worth $17.60 USD, or 47.32 HIVE. Speaking openly, I actually don't really look at the USD equivalent, as my main focus is on the price of HIVE, which in my mind I have sitting around the $1 mark - and I strongly believe we'll see that figure again in the future.

However, for some additional perspective, I want to jump back one month in time. At that point I created my first post, detailing my intention to stack 100,000 SPT. The below is a screen shot from that day:

Now - when we introduce that number into the mix, you can actually see there has been some significant selling pressure on SPT - and it has pulled back. I asked the question, how much would I need to buy 100,000 SPT and the answer was 275 HIVE. The answer to that question today is 230 HIVE.

Looking deeper, you can see that the SPT share price is being held up by a large buy order at 0.0023, but once that bid is filled - there really isn't a lot of depth left from the buyers! All this looks like the SPT stack is a risky proposition. What do you guys think?

#leofinance
#splinterlands

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