Splinterlands Tokens Trend Lower
I was planning on spending some saved DEC to purchase Chaos cards on the open market but in a matter of minutes the value of DEC fell more than 5%. Now I am hesitant to spend as the value of DEC is near a monthly low. Worse off is SPS as it seems to be hitting an all time new low at $0.017
What To Do?
It appears the Splinterlands tokens are tied to the performance of Hive and as of now Hive is noise diving and likely to break below $0.30. This is not good but on the flip side conversion from Hive to either DEC or SPS is slightly better.
For instance SPS to Hive is dropping so better conversion rates from Hive to SPS. This maybe a good time to accumulate more SPS before the new ranked battle rules of using staked SPS to earn rewards come into play. On the other hand as SPS keeps dropping it could be even cheaper in the days ahead relative to Hive.
I can not rule out making a big purchase of SPS in the near future as there is very good potential of high returns. I mean can you imagine if SPS just goes back to $0.03. That would almost be a 2x in price from current values.
Diamond Hands
My stash of liquidity in DEC and SPS continues to fall in value which is not ideal, but I have been investing heavily into the game and will continue to do so.
I do not want to spend my liquidity now considering how prices have fallen and my buying power has weaken significantly. With the price dropping rapidly I would hope at the very least card prices will drop to making it easier to spend what I have in liquidity. I still have eyes on cards I prefer to add to my collection, but for now will wait a day or two to see if card prices follow token prices.
Until next time thanks for reading!!!
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If DEC and SPS are both dropping in value, the amount of DEC/SPS you have should change too much. I think you wanted more SPS for the new changes where CP changes into SPS right?
!WINE
Exactly what I was thinking too and hence I invest i. Dec to sps pool only. Yet sps has fallen a lot compared to Dec over the months. Brutal !WINE
The way we're seeing it right now is that we've seen a lot of bearishness within the market and because of the bearishness within all things we'll wait for a while when things get better and we'll see it go above that.
There is a lot of hope that land can solve all the problems of the ecosystem but I don't think 1.5 will be able to do (although I hope I'm wrong). Land 2.0 is where we get a ton of DEC usage for all of the additional resources but that may not be until late 2023 or early 2024 at the earliest.
To me, land will really only solve the DEC problem as there are way too many cards and land utilization will probably be very low at first. Solving the DEC problem though will help us to stop the bleeding for SPS if people need to burn SPS in order to get DEC. As long as that continues then we can hope to bring in new players for higher SPS rewards and that will soak up the cards in the ecosystem.
The Dec burn event came to play outside of any roadmap plans. I truly believe it won’t take land or other expected road map plans to be the only sources to getting back Dec to peg. This is why I think we are in good hands with what Splinterlands is creating. They will find a way and when it happens it will be the least expected. For now just playing the last game and enjoy the ride. !LOL !WINE
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Credit: reddit
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