Did the Release of Chaos Legion Affect the Price of SPS?
As you know, Chaos Legion packs were released for sale to the general public this week. Exciting!
However, even with the release of these packs, they seemingly didn't do anything for the price of SPS, as SPS has continued to decline from a high in October.
We can hypothesize that the Chaos Legion pack release has little to NO correlation to the price of SPS, and we can speculate on a number of reasons:
You don't need SPS to purchase the general sale. You only need credits.
HODLing and staking SPS accelerated voucher earnings, and there's less incentive now to HODL SPS now that you don't need vouchers to purchase packs.
The airdrop percentage is now mid-30's, so HODLing your SPS isn't as lucrative as it once has been.
Social volume of SPS has declined nearly 30% over the past week per LunarCrush.
This means that from Reddit to Twitter to Facebook and etc, SPS mentions have dropped 30%. However, on the bright side, the mentions of SPS on the social media platforms, such as Splintertalk.io, has increased 60%!
One can only hope that the popularity of SPS on the platforms where it is popular will spillover onto other social media sites.
So, while the chart above only covers 1 week of activity, I have to wonder how the same chart will look like 3 months from now. Seeing how there are more contributors and shared links during this period, makes me think if this momentum continues, perhaps the social volume will flip, new players will start pouring in, and SPS will... Well, we'll see.