SPS price drop and I am buying

Hello and Namaste Everyone,

Experts in crypto markets say that we should buy when everyone is selling and sell when everyone is greedy. This time if you look at the SPS price in the market a similar situation is visible. SPS is the governance coin for the splinterlands game and this token has got nice utility also. This token was launched in 2021 and that was the time when the market was bullish and this token was also launched with almost one dollar price value. The token had got pretty good value in the market but because the airdrop was for a year long people started selling and booking profit. It happens when people get free tokens so they try to book profit and that is what happened with SPS.

Now either people have more tokens with them or they are earning more so they are selling in the market. I think it will take time to adjust this higher circulation of tokens in the market and once this is settled you will be able to see better prices in the market. I am hopeful that this token is doing well now in terms of utility but if you talk about the price then wait for some more time which can be a couple of years. I'm trying to buy whatever I can whenever I see some price drop and as you can see on the below chart it is going down. The current price is $0.02 around and I don't want to miss this opportunity so I bought some tokens that are powered up. I can't buy a million tokens because I'm not so rich but based on my buying capacity whatever is possible for me I'm doing this.

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I did buy some tokens today and powered up in the game account. It is called staking and currently, the APR is also nice I would not say that it is excellent but surely it is not bad at all.

Now I am taking you through my SPS balance in the game account and am happy to share that the balance is more than 51K SPS. This took more than two years for me to have this balance and I am trying to have 60K in the next few months. It is time time-consuming process because when you follow some project and want to have a nice holding you must be ready for long-term commitment also. I'm ready for the long-term commitment because this investment is part of my long-term strategy in the game and I hope that it will be valuable in the future.

My current balance worth is over $1000 and the staking APR is 13.7% which I think is nice. This is a good source of passive income but I'm not booking profit because it is not the right time and whatever I earn is added back to my holding. All this is done and I'm following a reinvesting approach where whatever is earned is reinvested in the game and I also invest in some other assets like important cards. This time many cards are available at low prices but only Rebellion Edition cards are expensive in the market so if you are planning to buy those maybe sometime weight can help you get an even better deal. Although it is not a sure-shot idea because maybe the price will go up so you might not get this opportunity again so up to you how you want to do but for me I will wait for some more time to see if there is some discount on rebellion cards.

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I keep on sharing from time to time about my SPS journey and how I am growing my balance. This time surely the price for SPS is low and I don't know if it will drop further but it is already at its bottom almost because we have seen it coming down from one dollar. Even if it goes to one cent it is fine because it is already two cents so there can be more reduction but the higher probability for the price is to go up. This is what I believe but I'm not an expert and I don't know how things will be with SPS price in the market so I just invested because I believe in the project and expect that it will grow in the bull run.

You can join the game through my affiliate link below-

https://splinterlands.com?ref=reeta0119

[Images are taken from splinterlands wherever src is not mentioned]

Thank you so much
Stay Safe

Posted Using InLeo Alpha