It has been a very long time since we are in a bear market. Most of us are probably just awaiting for the bull to pick up the pace and pull the market up. Do some magic and fill our portfolio with $$$ that we never even thought of! Well, fairy tales only exists in movies and books. Real life is somewhat cruel ;) Nevertheless, lets talk about few of the assets that I have in my portfolio and how they are doing and what do I intend to do with them.
Chaos Legion Packs
At current market price (HIVE-Engine) the price of one chaos legion pack is $1.5(approx). Whereas, the price of 1 Chaos packs purchasable from Splinterlands official page will cost 4000 DEC (which is counted as $4) at current market price $2.9. In case one is purchasing in bulk Vouchers are also needed for additional packs. So that cost would add up with the DEC price. I was one of the earliest buyer of CL packs during the presale. I have been holding onto packs till its existence. Although, I was not able to hold onto all of them.
According to current value of CL Packs my $3272 is now worth, $1227.
But even after the decrease in price of packs, I am buying CL packs almost everyday from Hive-engine. With that much discount I could not afford to loose this opportunity to DCA my portfolio. Well at current price it will be really tough but if the price actually gets to see a good turn than things will change for me substantially. SO I am being quite positive for my investments on this region.
As of the moment, I do hold substantial amount in my account. While during the 1st of December Chaos packs are being burnt everyday. With this going on probably after two or three more months chaos packs will run out of existence from the Splinterlands page. So the only way to obtain chaos packs will be via secondary market. Which might help in rise of the price of the packs. So there's a chance to recoup my invested money into packs. Although, I have opened quite a lot of packs from the purchase.
GLX
We all know what has happened to GLX over the last few weeks. It sort of felt like a dream tbh. With that much APR almost everyone felt like that this is a golden opportunity which can not be missed. But every good and juicy APR's comes to an end lol. While coming to talk about what is happening with GLX at the moment is sort of expected. When there is free coins being airdropped the price is suppose to go down after a certain time. Which is happening atm. While after few days more GLX will be hitting the market. Since the staking protocol for staked packs is getting live. So expect the price of GLX to dump even more in the coming days. Well once any sort of utility comes back to this token, I suppose things will start to resume in a good way. Until than just keep on doing what you think best lol. Although, in long run lets see what really comes out.
Vouchers
Image shared from HIVE-engine
Literally what has happened to vouchers! Since there are not much use case of it, the price seems to be going downwards and as it seems it will probably go down little more even more in the coming days. Without much of a utility there seems to be not much reason for it to move upwards.
The big question, what am I going to do?
Honestly, seeing my investment go down from huge to petty level, it does really makes me furious! I have spent a substantial amount of money in almost every aspect of Splinterlands over the past few months. There are so many things that I could have done without investing here but yet I did. For few reasons
- The Team
- The Game
- The community
- Roadmap
I do not want to make this my biggest mistake whatsoever. While let me share what happened to similar situation to me back then. I was new to gaming and once I saw things were going down in prices I started to panic and started to sell my assets and I did get rid of my assets. While after few months literally everything went up and I just calculated that my assets would have made me more than thousands of dollars in profits. And this would have happened only by SL assets. Which is why I do not want to repeat that same mistake once again.
Now, I am not saying things might get back to the top once again but once the bull run starts to take impact within no time the assets that we hold will start to rise and we shall see some good value for our assets. So for now I am not going to do anything but accumulate and use whatever I have to increase my portfolio in this bear market.
It would literally take weeks or months or even years to see the bull run come into affect. Which is why as of now its time to make the choice. Either to sell at loss or get something or just wait and see the end. I would like to see what really awaits for me in the coming days. Btw this is not any sort of financial advice. I am just sharing my POV.
Best regards
Rehan
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Roadmap and team to consider before an investment is actually very vital because it has all it takes to expose the company's future dream. But at the same time, some companies may have a good roadmap and still collapse.
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The situation is not easy on any front. Whatever crypto asset you hold lost a part of its value and this time it's not really different for Splinterlands. I think the future of Splinterlands is closely linked to how land will affect its economy. I believe it could open a lot of options and increase demand for cards. Also it's possible that once CL packs are sold out, the price of the cards will stabilize. The problem is that with bulk sales at discount level, the price for packs tanks additionaly on secondary markets. We will probably have to wait for this stabilisation a bit more :-). Great post!
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