SPS has risen nearly 37.5% from All-Time Lows.
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With the new SPS staking requirements for Ranked Battle Rewards, the price of SPS has risen nearly 37.5% from All-Time Low. This has been cause for celebration as SPS has seemingly made a recovery from a steady decline. DEC related gimmicks to get the "Flywheel" running to encourage SPS to be burned in exchange for DEC to reduce the SPS supply have not worked thus far. However, SPS has risen without any relationship to other tokens, it is due to the SPS staking requirements that the turnaround took place. It remains to be seen how long this recovery lasts or even if it turns into a bullish phase. With this upswing in SPS, how have other SPS assets and tokens fared?
Chaos Legion Packs - CHAOS
Chaos Legion packs are at $1.21 as of the writing of this article. They are not on the Dollar Menu anymore, but as far as how it is stacking up against Hive, the declines may continue a bit more. $1 packs are not out of the question. Keep in mind, there are still 2.95 million unopened packs.
Right now, technicals are pointing toward a downward bias although it is not the strongest bearish movement. Interestingly, packs fell against Hive at almost the same time SPS started to turn around the U.S. Dollar.
Riftwatchers Packs - RIFT
You can buy Riftwatchers Packs with SPS and if SPS rises in price, less SPS is needed to purchase Riftwatchers packs. This is the logic, it's quite sound. 881,000 (29.4%) packs have been opened and 1.03 million packs have been purchased.
If it is not obvious, Riftwatchers pack prices are falling against Hive. If SPS keeps rising, there is a greater likelihood of Riftwatchers packs being purchased, which means that there will be greater supply on the market and thus lower prices. It costs roughly $3.55 to purchase one pack on Hive Engine.
When will buyers jump onto the direct sale of Riftwatchers packs? The SPS price that encourages each buyer is going to make for an interesting sale. If SPS rises to 5 cents, will buyers start piling in? If it is 10 cents, will this be the time? Maybe it is 15 cents? Big money interests in Splinterlands will dictate the point where they make the purchases and eventually sell out the rest of the mini-set.
Splinterlands Node License - LICENSE
Remember, the days of the $500 Node License on Hive Engine? Those days are apparently over. Node Licenses are selling for $823 on the Ask side in the Hive Engine marketplace.
Node Licenses rose by more than SPS did. SPS went up by roughly 37.5%, but Node Licenses went up by roughly 64%. Node Licenses issue out SPS and Vouchers to the Node License owner, but purely holding the token and flipping it on the Hive Engine market can deliver a strong return if the timing is right.
Right now, the 2,000 Hive point is the resistance here to watch, but given the low liquidity of this market it could go much higher if someone chooses to make market order to purchase a Node License.