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If you have gone to your SPS airdrop claim page you might have seen a new APR
It just jumped from 22% to 60%! How is that possible? I first wasn't sure what this meant as well, but it seems that team now included the voucher airdrop which raises the APR by a lot. I talked about this 3 weeks ago and calculated that it was about 60% for me. So I am quite happy to see that official confirmation. Obviously you have to keep in mind that this will vary quite a bit from day to day depending on the price of the vouchers and that it is a non linear APR increase. In other words, the more SPS you have staked, the more vouchers and therefore APR you will receive!
It's already now down to 57%, but again, it should vary with the price of vouchers. By the way, if you have some vouchers, it is good time to sell them now with them currently sold at about 3 Hive!
The TA
Anyone who has followed my TA for SPS knows that I often speculated a strong price reversal. But for the reasons outlined in previous posts, we didn't get that with the main reason being the strong selling pressure from the airdrop. But things are about to change!
- The airdrops are coming to an end. The first one (private sale) will end on May 26th and the public airdrop will end on July 26th.
- The SPS Validator nodes licenses will be sold next week which will burn a lot of SPS
- Ranked rewards update as well as modern/wild format will hit the game shortly
- Riftwatchers will be sold in the next few months which will also to buying pressure on SPS as they are only purchasable in SPS
These are tremendous changes for the SPS economy and they will affect the price of the SPS token without a doubt. The question of course is how much. Surely, it will put buying pressure on the token, but it is unclear how much price could go up. But let's have a try...
SPS is still in a descending triangle since the start of its launch.
But we are about to test the upper resistance again. For the reasons mentioned above I believe that price will break to the upside in the coming weeks. Because of the fractal changed observed, I also think that it will go above 13 cents, if only briefly. In the best case scenario we would go to about 17 cents and probably hit a correction. But I am currently favoring the scenario seen in the chart.
After a short impulse wave we would see rather a sideways movement for the coming months. Perhaps even slightly upwards; with the end of the public airdrop I would expect prices to slowly go up again. This will also depend on the changes implemented to the game at that time as summer 2022 will be very busy for the team. If all goes well, we could even see a domino effect with Splinterlands once again making news headlines and see a large number of new players. If so, we could be at 30-40 cents at the end of summer... But this is quite unclear yet!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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I think SPS is worth buying. With the nodes requiring SPS and other features coming out. I shall keep stacking SPS !
Posted using LeoFinance Mobile
the value of the SPS token is really low. I believe we are on the bottom or very close to the bottom
Super informative post, great TA and fundamentals presented here as usual @tobetada. Would love to see the price of SPS boost up to and test the 17cent range, it would make sense with the heavy burn of SPS due to the upcoming validator node release. Looking forward to whats going to happen, and your next exciting post!
thanks for stopping by :)
Good breakdown, and some hopeful outcomes bro. Im holding on and looking forward.
!PIZZA
Posted using Splintertalk
I think I see the price of SPS testing 15 cents I don't know where the top would be, but nug goodness! It's been a stunning chanhet of the rewards system by splinterlands. Making everything ad rewardable. Would be great to see the airdrop coming to an end and what it'll mean for DEC
I think DEC is planned to hold its peg and I think there is a good chance it will do that. If the team delivers on its development timeline there is no way SPS will stay at this price level... so I think it's a great accumulation zone
It's been a while it held the peg and I think holding the Peg will mean some certain price measurement and stability. Well, I'm still accumulating SPS along the way. Hopefully it's not too late.
Posted using LeoFinance Mobile
in the last town hall they said that they hope it will maintain its peg by pricing many assets/NFTs in a fixed DEC amount. Might work...
Well, there's been too many townhall meetings lately, I guess it's time to act on that one.
Posted using LeoFinance Mobile
the last one was pretty good, I always get excited with Matt
!1UP
I also always sell vouchers.
Have a great day.
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