Splinterlands $DEC, $SPS and My Thoughts About What SEC is Calling Security

Did you know that in the latest Binance Lawsuit the SEC also called Axie Infinity’s AXS tokens, Decentralands Mana and SAND tokens securities?

I don’t know if they omitted Splinterlands by mistake because there’s no way you’ll call out the biggest metaverse and game tokens in crypto and not mention Splinterlands.

Not that I’m saying SPS is a security, or that it isn’t, but this omission speaks volumes. Maybe SPS really stands out on that note, but we wouldn’t even know would we?

Todays definition of what a security is, can be different from tomorrow’s as long as the SEC says so and these are the issues. This is why many feel the lack of clarity in regulation is orchestrated just to push people around.

So if the rumors are true, and the SEC is really trying to pull off a choke operation on crypto, then is it better to expect a crack down on Splinterlands too?

I just think the fact that Splinterlands is built on top of Hive which is decentralized and plus the fact that SPS is a full governance token absolves it to an extent? Maybe we will find out in the coming weeks.

In the mean time, DEC is burning, so far, over 492 million DEC has been burnt, and we still have over 2 weeks of burning to go, are we going to see as much as 1billion DEC burns before the end of the burn event?

But the price of DEC has been struggling to stay above $0.00080, it looks like it’ll be needing another sink of this magnitude in 5 folds, maybe then it’ll be strong enough to gather the momentum to push it above the peg!

The price of SPS keeps going down but it’s stakeholders keep growing their stakes, it is obvious many believe in the future of this governance token which is hard to see presently because of how poorly the market is reflecting it on the price of the token.

Before anyone should write off this token they should first look into what’s being developed before they make their decision, for me, this is an opportunity of a lifetime.

Moreover, the overall market has been bearish, so there’s that, each time it seems like hive is gaining some momentum it drops back in short time, same for BTC too, plus there’s been Binance and SEC drama happening as well so yeah the market has not been really bullish.

But remember what they say, buy the dip right? Or no, let’s use be greedy when others are fearful, because we can agree that the SEC has done one thing right, spreading a heck of FUD and unfortunately, many have gobbled up it up and are selling into it, but who’ll tell them? I guess they’ll learn on their own.

Thanks for reading.