It was bad Monday. The prices of sports token have almost halved from its last week's peak of 0.0005 hive per token to 0.00025 per token this week.
But more worrying part is that the market depth shows that there are only sellers all across and buyers are very few. Which means that there is no demand for the tokens and token holders are selling the tokens at whatever price the tokens are available.
There could be few reasons for this downwards journey of sports price which i found in my presence of last couple of months.
Pressure on Hive
There is a significant pressure on hive prices in last few days and hive prices have failed more than 22% in a day. This has created a panic amongst the investors.
Exit of Sports-whale
Though this is just a possibility, some sports-stake holder has lost interest in the token for whatever reason and have reduced his stake. Recently, some big accounts are found to have reduced their activities on this platform.
Technical Side Developments
Though there have been lot of proposals coming in on the #sportstalk platform, really none of them are helping to generate the real sports related content which can help the sports frontend use. More efforts are required to market the platform to outside hive users. Not many sports publishers or publishing houses are currently engaging with platform.
Why have you got spaminator? You must have done something wrong.
Unable to understand what went wrong. Whatever it was I respect the decision of spaminator
I think it's just a reaction of the overall setback in crypto market. We will see the price come back up if you look in the longer perspective
I hope what you are saying is the only reason and the prices recover soon. Its never a good sign to see your portfolio value going down
The graph looks really scary. There is lot of selling pressure built on this counter