SPS is trading near All Time Low! A great time to accumulate?

What’s up my fellow splinterlands warriors!

I guess you all are enjoying a great weekend with your loved ones and also enjoying playing this witty game in your free time. Well, we crypto lovers are going with a never-ending bear season for a really long time now and with BTC currently moving around only 26,590$ and ETH selling for around 1,740$ and all other tokens and coins trading with low values without any high price appreciation within the last 1 year, tension is building among the investors and also people like me who are fully dependent on their crypto earnings to run the family. But on the bright side, those who are utilizing this situation to accumulate and earn more and more crypto assets and increase their wealth in this space when the economy is near its all-time low when the situation flips which I strongly believe is soon going to happen, they will be the happiest souls in Earth. I even heard about news recently that BlackRock, the secret company that claimed to be owning the world has also entered the bitcoin market recently, so that’s a massive thing for this space thou it can also be false news, it is indeed making a new topic to talk among crypto enthusiasts. If you ask Me, I am also trying my best to earn, reinvest and accumulate as much as I can and prepare for the next bull market, my focus is mainly on 3 assets in the hive ecosystem - building a good Hive Power (HP) and also try to keep a decent amount of liquid Hive balance, increase my SPS stake over time by restaking all the SPS that I earn from playing the game and as staking awards and lastly, build a well staked Leo amount to increase my influence in the Leofinance community. In this post, I will exclusively talk about SPS and my goals with this particular token.

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SPS aka Splintershards is the main in-game reward token of the splinterlands game and it also serves as a governance token for this project. Players who play different modes like ranked, tournaments or brawls stand a chance to earn SPS tokens based on their card collection and personal skillset and you can also earn SPS as staking rewards for staking SPS in the in-game account. Currently, it is giving 18.5% APR interest including SPS and Vouchers that we get daily as rewards. However, since the last couple of weeks, the SPS is not having a very great time as it has been dumped down to 0.017$ per unit from 0.024$. This huge price correction has also affected me as my total staked SPS value has even come down below 1500$ currently.

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No doubt the price for SPS is falling down continuously and apart from the recent negative market status, there are also a few other reasons there causing it to go down I think and one of them is the upcoming update to change the collection power (CP) to staked SPS as a requirement to earn from playing the game, where the more SPS you have staked in the game, the better % of rewards you will be allocated based in your playing league and other parameters. This new update surely creates a great and real use-case for SPS which this token was missing for a long time but it has also ignited some players and investors who didn't like the decision of putting more money into this project for what they were already. However, I personally really liked this new update and thou as a Diamond player, I am far away from the required staked SPS to secure 100% of rewards, I welcome this unique idea because it will generate value for SPS in the long term and produce more SPS holders who believe in this game and want their skin in this project.

Though it is impossible to predict how the game or its tokens will perform in the long term but for me, I do believe in the team and like what they are doing after the project. They are constantly bringing new updates and fixing glitches, they listen to the user base and also hold weekly AMAs where anyone can tell their opinions or ask their questions openly to the team. Not to mention they are also building the future of this game in the background and also collaborating with other games and projects for more visibility and reach. Splinterlands runs on the decentralized hive blockchain and this project itself is also decentralized as l we can create our own proposals and vote for others' proposals for or against it. If the proposal gets passed the team works toward the decision which clearly indicates that this project is not at all centralized where users don't get a voice. They also have a roadmap including many updates and new in-game launches quarter to quarter so that the players and investors have a clear idea of what the project is currently working on and what will be their next move.

All of these elements make this game special and obviously stand out from most of the crypto games out there. In my 5 years of crypto career, I have seen many games come and go and most of them don't even pass 1 year after launch. But in the case of splinterlands, not only has it been performing well for a long time now and standing strong among the top crypto games globally, but it has also completed 5 years just recently which gives proof of its hard work.

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Now, I have been accumulating SPS from over a year ago since the airdrop started and still now, I am collecting and restaking all my SPS back into the wallet. I am following this strategy for a long time and after the airdrop ended, I even decided to reinvest all my playing earnings into the staked wallet and gladly, as I am writing this post, I have crossed staking 85k SPS into my in-game wallet and now moving towards my first goal of 100k total staked SPS on a steady growth rate. With the current value of SPS, the total staked amount that I have is valued at around 1,477$ right now, but imagine even if SPS touches back 0.1$, I will be sitting upon a huge chunk of money. Now, I know I may sound optimistic but that’s what I believe. When the SPS token and the airdrop started, it reached way up to 1$ per unit because of the low initial supply, but right now the market is flooded with huge SPS supply but comparatively less in demand. But, I think the scenario is about to change when the new update kicks in as it will encourage every player to stake more and more SPS to earn more, I mean who would miss an opportunity to earn more for the same work right? But needless to say that I am not a financial advisor and just a lover of this game and please do your own research (DYOR) before investing in any coin or project.

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Wish you all good luck on all of your future Splinterlands matches.

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Stay well and keep playing Splinterlands.

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Posted Using LeoFinance Alpha