First off I want to point out I am as happy as many others who use Hive and see its price soar. With that being said what I talk about in this post is more towards what is occurring in the preset market.
Secondary Tokens Taking Hit?
With the value of Hive climbing it has pulled secondary tokens up to. For instance in game tokens such as DEC, SPS and Vouchers the $ value of each of these assets has also risen. On the other hand the rate of increase in tokens compare to Hive is actually slower. In fact it is closer to 20% less in increase causing holders of large summon of Splinterlands tokens to be losing value with respect to Hive.
Take DEC for instance right now relative to Hive it has hit a low for the year and remains in a downtrend. For players like me who have held a lot of DEC right now we would be incurring significant lose if we traded the DEC into Hive. Of course on the flip side the more Hives we have the more DEC we get if traded.
Yet there are likely many players including me that have used Hive to trade for Splinterlands tokens or considered exchanging their tokens for Hive are somewhat trapped in paper losses as we moved out of Hive and into these tokens or were late to exchanging tokens for Hive. For instance with me all my saved vouchers and GLX tokens I had potentially planned to exchange for Hive is worse off now by a magnitude of -25%. This means if I had exchanged both my vouchers and GLX tokens a day earlier I would have gotten 25% more in Hive.
Hive Price Up End Goal
On the flip side with Hive price rise it brings increase in $ value to tokens. For DEC it has brought it closer to par value.
Use of DEC or SPS to purchase cards are now less than 24 hours ago and it has all thanks to do with Hive price rise.
If we were to look pass the price differences between Hive and Splinterlands tokens over the past 24 hours we can see mostly positives in the Splinterlands ecosystem. All assets beyond the in game tokens have risen in value as they are sold at higher $ value even thou less tokens spent. If we do not exchange out of tokens and into Hive it would be a net positive. For me I prefer it this way since often I exchange Hive into tokens to purchase more cards. Now the exchange rate makes it extremely attractive to switch into more Splinterlands tokens than Hive.
Until next time thanks for reading!!!
I have plenty of other cards for rent! Just go on peakmonsters and check out the market place and if you are curious what I offer here is a link:
If You have yet to take part in playing this great game called Splinterlands please click on my referral link. It is free but in order to earn real assets such as cards and token you would have to invest in a starter deck or purchase game cards. Join the discord to learn more. Good luck!
THANKS FOR READING! CONTINUE TO PLAY SPLINTERLANDS!
This games seems so interesting but bit complex to understand! I played a lot of games on blockchain, specially on smartBCH. Now all of them are dead. But my interest on playing game is still surviving.
I'll follow some youtube video to learn about this game, or if you have any guideline content, I'd love it
Recommend reading splinterlands doc and spending $10 in game for getting a spell book.
https://docs.splinterlands.com/summoners-spellbook
Splinterlands is on its fifth year of existence and the nice you play a few games I think you will know it’s a great game. Good luck !LUV !PIZZA
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I think the price of L2 tokens will be adjusted 1 or 2 days later after HIVE price pump.
Just looked at L2 tokens and indeed you are right but hopefully they catch up relative to hive m. !LOL
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I was hoping that the GLX token will experience a dump as soon as hive but it turns out the opposite
Well then that’s somewhat good for GLX stakers !LOL
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Pump in Hive price is always gives happiness all around the community. Hive is the main coin of Hive platform , This is why others tokens of the ecosystem have lost their value with respect to hive, and their rate of price increase is also slow. but slow and steady wins the race.
That’s one positive spin looking at it. I just can’t believe DEC is almost half of what hive was around a few weeks ago. Prices still very volatile !PIZZA
i hope secondary market will not die if hive go down lol, because its react sometimes not healthy
I don’t think secondary markets will stop but begs to wonder how assets keep their value if the overall trending down in in value relative to hive. Makes me wonder if I should just hold hive only !LOL
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First hive, then the rest follow.
Crypto has always been a follow-the-leader deal. BTC up first, top alts next, shitcoins pump last.
All I can say is to hoard those SPS tokens.
Yes nice way of putting it. Let’s hope it happens !LOL
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When I woke up in the morning, I was very happy to see hive pump. The others coins are coming down a bit at the moment because most people are investing on hive. We will see after few days who are attached with hive will also pump in coming days. At this point if we look at any of the games coins that have come down. I'll come up with this last one, we'll all have a lot of users with it in the coming days.
It is good for those exchanging hive to secondary tokens and maybe could do some arbitrage? !PIZZA
The price pumps really messes up anyone trying to trade. It's common with the price pump and I wonder if I should be trying to place some low bids to catch some of those drops.
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I did put in bids on some secondary tokens such as dhedge and was able to snag some at the lower price. Not sure if it can be done now as some L2 tokens recovered. !WINE !PIZZA
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I got shocked too looking at my 2nd layer token having high red number yesterday, lol