Liquid SPS Falls Below 90 Million, Yet Price Remains Below $1
Liquid SPS tokens fell below 100,000,000 in circulation shortly before the Chaos Legion VOUCHER airdrop began just a few days ago. Now, another 10,000,000 SPS tokens have been staked, yet one thing I expected still hasn't happened. Why hasn't the price of SPS risen above its current $0.75 USD?
I'll be honest, I'm stumped. More and more SPS is getting staked and SPS is the most cost-effective method of paying for Chaos Legion packs in the pre-sale and yet the price has actually fallen slightly! Either this is a great steal of a price before the real runup begins when pre-sale buyers are scrambling to acquire enough SPS to get their 10% discount, or there's enough liquid SPS holders selling their tokens that the price stays stuck down here below $1.
My Strategy
My current Chaos Legion VOUCHER/SPS strategy is to start an unstaking of my SPS so that I am getting 25% of my stake back in liquid form each week to take advantage of selling into any spikes in SPS pricing. However, this strategy seems to be questionable now since there has been no price spike yet and the profits from selling VOUCHERs would mean I should keep all my SPS staked.
Thankfully, this strategy allows me the flexibility to cancel my unstaking and let it ride through the end of the VOUCHER airdrop, or if SPS prices start to spike, I'll have liquid SPS on the way to take advantage of it. You'll also notice that the staking APR has also now dropped below 60%.
If there is one thing I've learned with @Splinterlands, it's that you need to stay nimble in order to take advantage of these opportunities when they present themselves!
Today's Featured Battle
I'm having a lot of fun with the magic reflect ability of the Owster Rotwell summoner. This card is extremely underrated as it can absolutely destroy an enemy that is relying on magic attack.
Watch as the magic reflect gives my opponent a taste of his own medicine!
Brawls Are Ending Today!
Don't forget to enter your frays today as brawls are ending in less than 12 hours from the publication of this post! The @Hive.Pizza guilds are gearing up for another day of destruction with PIZZA 1 The Stuffed Crust defending their #1 place finish last time and PIZZA 2 The Deep Dish still working on cracking the top 3.
Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
I think that Vouchers moved the pressure from SPS to it and thus the price for SPS didn't pass over $1. As with a new cryptocurrency in the form of Vouchers created in Splinterlands until users will understand the duality purpose between SPS and VOUCHERS will not have a clear picture of those. These assets should be treated as one and if you want to do any calculation you need to do an average on both and that would be the real market price of SPS.
Posted Using LeoFinance Beta
Yeah the VOUCHER tokens are certainly shaking up the Splinterlands cryptocurrency market across the board. I still can't believe people were paying over $20 for those VOUCHERs and I don't think the pre-sale benefits will be that high when the dust settles. !PIZZA
Those $20 USD Vouchers comes with some kind of perks, but I heard (someone wrote) that the vouchers will worth $4 USD
That sounds like a more realistic price. If that is true, then the question is, will the perks worth $16 USD?
I give you some !PIZZA.
Have a nice day. All the best.
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I agree, I was really thinking we would be well over $1 per sps. vouchers at this prices is crazy and can't last.
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I have not even heard about this summoner so far. Maybe I will try it by renting it (if it is available). Probably it is a very expensive summoner.
Not expensive at all! Can buy it for $20 or rent it for $0.013 per day! It’s way undervalued in the market I think. Have fun! !PIZZA
Well, that is very expensive for me. I bought the Beta starter set on 2018.12.30 for $10 USD worth of Steem, and even that was very expensive for me. My total income in real life was approximately $250 USD per month. Nowadays it is around $470 USD per month (my pension-like income + the salary of my 4 hours part time job), but it is still below the local (Hungarian) minimum wage, which would be approximately $550 USD.
That is something I can easily afford.
I give you some more !PIZZA (I already called it under one of your other comments under this post).
Have a nice day.
All the best.
Greetings from Hungary.
I’m glad the rental is an option for you. I also prefer to rent cards since it is much cheaper in many situations. For this card you can rent it for more than 1,500 days continuously before you would spend $20 in rental fees! Thanks for the !PIZZA
Interesting. So the vouchers are more valuable to sell than to buy chaos packs?
That's my belief. Keeping the vouchers to buy packs is essentially giving up whatever price someone is willing to buy it for, which is $15-20 right now. I don't think that the pre-sale extra bonuses are worth $15-20 per pack. At those prices, you'd pay $15,000+ to get Legionnaire status, 1 guaranteed gold foil promo card and 19 non-gold promo cards. I just don't think it will be worth it.
I personally am also a bit surprised and worried about SPS prize development - I fear it further declines until we might pay packs with our SPS and after that it might go up? Hence I do a two way strategy SPS and Credits to purchase CL packs later - depending on how the prize will develop then.
I'm glad I'm not the only one surprised by the slide in SPS prices. I really thought the devs were setting up a major demand increase for SPS with the staking requirement for Chaos Legion pre-sale vouchers and then the 10% discount for paying with SPS. So far it seems there was a lot more hidden supply that was willing to sell instead. !PIZZA
i might still be bullish in sps, vouchers only give you chance to get limited edition cards, but sps will be my top priority in investing. !PIZZA
@xykorlz, sorry! You need more to stake more $PIZZA to use this command.
The minimum requirement is 20.0 PIZZA staked.
More $PIZZA is available from Hive-Engine or Tribaldex
ok2 thanks for the info