The good thing about the crypto market is that we do not know when things can be on fire, which can turn out to be a great price appreciation for coins. Here I'm talking about Bitcoin and the SPS coin, the governance token for the splinterlands game. Everyone knows what Bitcoin is and we also know that the price of Bitcoin has grown significantly in the last couple of weeks. This is good but SPS has also gone crazy in the market because the price of this token has gone up by more than 200% in the last couple of weeks. This is good for the people who are holding the token and are part of the splinterlands game.
I have been playing this game since 2019 and with SPS I am bullish because I believe it has the potential to go multifold. SPS is a highly undervalued token even now in my opinion because the token has a great use case in the game and comparatively the price is really low. In this post, I'll talk about the SPS price that we have seen going up and whether is it worth keeping the token as staked considering what APR we are getting.
SPS Price Chart
This is the one-month price chart for sps and you'd be able to see that how the price has started going up from the last week of November. This is the time when land was launched and undoubtedly this has given a boost to the token price because there is demand for the token in the game. Although this launch has also boosted the price for the DEC token it is a stable coin so we cannot expect a massive price increase on that token. SPS is the governance coin that was launched two years back and it has also made its one-dollar reach already but since the last year or something the token has not been doing good. I have been accumulating the token when it was low and even now I have the same strategy but because of this price increase, I thought of pausing so that I can see how the price momentum is happening with this coin.
The above chart looks bullish on the price and looks like SPS is heading towards the $0.05 price and it will not be a surprise if it happens in the next few weeks or by the end of this year.
My SPS Stake
This is what I have in my game account as of now and the balance is almost 143K sps. The current value is more than 4000 U.S dollars as of now when the price is slightly better and there was a time when this value was somewhere around $2000 or even less a month before. This is how the crypto market operates and we should be OK with both situations when the price is going to be good or it is going to be on the lower side but one trigger can show what potential the coin has got in the market. I'm happy with my steak but I wanted to take it to 200K and I still have the same thought but because of the price rise it is on pause.
SPS Staking APR
Currently, we can earn more than 13% of APR which I think is pretty good in the current market scenario. This has come down if we do the comparison between the current and what we had a few months back. This APR was kind of stable for many months and I hope that it will stay here for some time. This is a good option for passive income because we are earning tokens and this APR is distributed through two tokens including SPS and voucher. I expect a better value for the voucher token so that I can convert it to the SPS when the value looks good and I get more SPS after the conversion.
I'm happy to keep all my tokens in staked form so that they earn over 13% and this is a good percentage I would say. I'm happy with this percentage but I hope it does not fall further else I would have to change my strategy with this token for staking. Because of this price increase I expect that some people will be honest taking their tokens and booking some profit and less supply will remain in the reward pool.
Now we have lands in the game along with rebellion general sale which is already live. There is a lot of excitement in the game because people are exploring different parts of the land as well and players are exploring different cards in the new edition which is known as rebellion. I'm not familiar with this new version of cards as of now but I want to and we'll be spending some time to know which card is good for me. Later on, I will try to buy some cards when I see better pricing in the market because ultimately I want to build a deck from a million edition. This version is mostly for the players because the cards will not be used on land forming. I think prices will settle after a couple of weeks and this is the reason why I am waiting for some time to see when I can get the cards at discounted prices.
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