Splinterlands: Splintershards (SPS) Hits All-Time Low. Here's Why This is an Opportunity

Given the turbulence in the cryptocurrency market lately, many top crypto assets including Bitcoin (BTC), Ethereum (ETH), and HIVE among others, have plummeted massively in the past couple of weeks.

The prevailing bearish season, fueled by several factors including the implosion of the once-thriving FTX digital assets exchange, has taken manifold cryptos to their all-time lows. Investors can only hope that price recovery happens soon as it cannot be stated categorically when Bitcoin (BTC) and its counterparts will rally.

Splintershards (SPS) Touches All-Time Low

Like most tokens, the SPS token, which is trading on several top crypto exchanges including Huobi has also been cut in the bearish wave. That is, the Splintershards token has unfortunately been on a steady price decline, despite the outstanding growth and wide adoption of the leading play-to-earn collectible card game, Splinterlands.

Particularly, Splintershards (SPS), which is one of the tokens in the Splinterlands game ecosystem, recently touched an all-time low in dollar valuation. Per data available on Coinmarketcap, the widely-referenced crypto, and price-tracking platform, SPS broke all its supports till it reached its lowest-ever price per token on December 4, 2022.

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To note, Splintershards (SPS) has recorded a new all-time low of $0.03513. This further indicates a decline of over 97.22% from the token's all-time high of $1.27, which was recorded about a year ago on July 28, 2021. In one way, the decline in the price of SPS is a good opportunity. Players of the Splinterlands game and crypto investors can now fill their bags with SPS, at a discounted rate, before the breakout and rally set in.

As you read further, you will get to know more about the Splintershards token, its tokenomics, and why you should grab as many SPS units as possible.

The Splintershards (SPS) Token

Splintershards token, which has the ticker SPS, is a governance token in the Splinterlands game ecosystem. SPS is designed to have a total supply of 3 billion tokens only and with a unique unlocking/ issuing pattern. According to the team, Splintershards (SPS) will be distributed in a predetermined schedule which will last for about 65 months from the date that the token was first released.

It is worth noting that the primary goal of the Splintershards (SPS) token is to reward Splinterlands players and asset holders, as stated by the team. To this add, the team allotted 400,000,000 SPS tokens, representing 13.33% of the total token supply for airdrop campaigns. Beneficiaries of these airdrops are said to be holders of nearly all types of Splinterlands assets.

Why You Should Accumulate SPS

The SPS token which runs on the Binance Smart Chain (BSC) network possesses many use cases which makes it a good investment option. As a governance token, holding/ staking SPS enables players of the Splinterlands game to participate in the governance of the digital trading card game ecosystem.

This means that players who hold staked SPS tokens can vote for or against suggested changes put forward in the Splinterlands game and overall ecosystem. Also, holding staked SPS enables a community member to submit governance proposals in the game platform for voting.

Among the numerous benefits associated with SPS is that staking the Splintershards token allows community members to have access to several incentives in the game platform, including airdrops, bonuses, offers, and promotions. Notably, staking SPS tokens also allow players of the NFT game to compete for larger tournament prize pools. It bears mentioning that there is an ongoing GLX token airdrop for current SPS token stakers.

As revealed by the team, virtually every offer and promotion offered by Splinterlands requires users to stake SPS tokens to participate. On the other hand, players who have SPS tokens staked in their accounts are entitled to significant bonuses in the Splinterlands game.

While Splinterlands is on the course of making SPS staking an entry requirement for certain tournaments, users who stake the Splintershards token have increased chances of receiving airdropped cards and/or gold foil versions of the card based on the number of SPS tokens staked.

SPS in the Market

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At the time of writing, SPS is currently trading for $0.03486 per token, with a market cap of $29.79 million, according to the Binance price tracking platform. But in the last 30 days, the token has plunged by over 38% while showing a decline of 1.47% in the last 24 hours, at the time of writing.