Is SPS Nearing It's Bottom?

in LeoFinance6 months ago

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I had a few dollars today that I wanted to invest into crypto and I was thinking about which of my holdings to stack and I came to the conclusion that the prices of SPS were simply too low to pass up on right now.

The History of SPS

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Since the token was released, it has seen a pretty straightforward path for a cryptocurrency. A huge burst followed by a crash and then steady gains that then began trending down as the market itself slipped into a bear market. Additionally, SPS has been increasing in supply each day as there has been a 365 day long airdrop going on for holders of Splinterlands assets.

The token is being used to enter certain contests, purchase special event drops and will theoretically form into a governance token of sorts for the ecosystem. Though it is a pretty new token, it has quickly become an integral part of the game and is an important factor in earnings as well as the token can be staked for just under 50% APR.

The Future of SPS

Well the end of the airdrop is approaching rapidly as there are less than 50 days left on the drop. When that point is reached, significantly fewer SPS will be introduced to the ecosystem and the token should begin to appreciate in value if the use cases remain integral to the game and people hold a belief in the team pushing the token.

I think that with the token being available for less than 8 cents, we really shouldn't expect much more downside, and any downside we do see should theoretically be gained back when the airdrop begins to settle down. I wouldn't take this as financial advice, but I am a believer in Splinterlands and have seen what other games have done with their governance tokens. For me, it is a hard token to stay away from knowing the potential that it holds for enormous gains (though they are of course not guaranteed).

I've done my best to stack assets lately and was able to increase my daily airdrop by 20%, so I'm happy to be building a nice bag of SPS and want to add to it when I get an opportunity like I have today!

What do you think the future of SPS is? Let me know in the comments!

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My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.

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🙌🏻 I had quite the same thesis a few weeks ago in an article about SPS, the upside potential is much higher currently than to the downside. In a few months time we will almost certainly see a recovery.
Regards Thomas

I do think that SPS will begin to outperform when its airdrop period finishes. FWIW I staked mine pretty early so I might not be the best to listen to on this one.

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