Crypto Analysis | 100k SPS Staked - Darkest Before Dawn?
Good day Hiveians!
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I just achieved my 100k staked SPS milestone!
Ever since the airdrop started I thought that getting 100k SPS was a reachable goal. But then came the bear market and the realization that SPS will be dumping as long at the aridrop will continue. So 100k does not seem like the big target I first thought it would be. In fact at current prices it is barely worth $5000 which is still a nice sum. But it hides the fact that I also invested quite a bit of money into it- if I had to guess about the same amount :o So the only reason why I am not in a huge loss is because of the airdrop. We probably don't have to talk about how SPS has been a disaster financially speaking as most will be in the same situation. But that is okay - we are after all in it for the long run.
Darkest Before Dawn?
So my theory is that there will be a huge turn around after the airdrop finishes. There are only 22 days left... and when it ends people will realize that it won't be so easy getting SPS anymore. I think most have become accustomed to the airdrops and see it as "free money". But once we don't get the airdrop anymore, the only way of getting SPS is by buying it actually. If I am not mistaken it is not possible to receive SPS from validator licenses or in game yet. This will remove the selling pressure by a lot.
But of course people can still sell. And they will if they think that Splinterlands will not have a bright future. However, by listening at the Town Hall every week it is impossible to feel bearish about this game. Just last week the team announced a new game in this franchise which is quite amazing. And the best thing about this is that the team is now big enough to be able to develop both.
TA
I don't even feel like posting this chart of SPS anymore. It's been the same story for a year now. And currently it almost looks like it could lose the bottom support. Yikes! If it does we really could see 1-2 cents (lol). But... again the airdorp is ending. So I think currently it is darkest before dawn. Now is the time when people will say SPS is a huge failure. But now is also the time when one can make smart financial decisions which have a huge potential for paying off in the near future!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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It all depends on the general crypto trends, prices can stay low for years.... although the fact that tge airdrop is ending is for sure a big thing and something to consider .... SPS has went to massive expansion in the first year ... from zero to 800M ... 2.2B more to go for reaching it cap though.
that is true. U think the crypto markets will stay in consolidation for another 5-6 months. Although SPS should moon by almost all metrics :P
I agree with you, after the airdrop we will see price consolidation on another target, I believe higher. At the current price I believe that a 40% increase would not be so difficult.
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your theory is interesting, I too am convinced that the SPS token has a good future ahead of it. Today, July 5, 2022, the SPS token is worth $ 0.04
I have the same feeling about SPS. It's fun to collect the airdrops and when they stop there will be no more free sps. Most will stake and wait and see. The answer is in the clouds @tobetada. I'd hate to see you lose your original investment. SPS really depends on the future of the game and it looks like it will continue to grow.
!BEER
As the most popular blockchain out there it does not really make sense for SPS to tank like this. The only explanation I have is the airdrop; so I am optimistic that things will turn around :)
View or trade
BEER.Hey @tobetada, here is a little bit of
BEERfrom @mineopoly for you. Enjoy it!Do you want to win SOME BEER together with your friends and draw the
BEERKING.congrats on your staked 100k. I really think SPS has a usecase behind it and prices can rise !
@tipu curate