The SPS (Splintershards) is the governance token of the splinterlands game. This was launched last year in July month and since then we have seen the all-time high price almost reaching to $1 range and now it is less than $0.03. this is a surprisingly massive drop in the price is massive and to be honest that I never expected this type of price fall with this governance token. The bear market could be one of the reasons but the question is that the impact is more on the token however market is not that much dropped.
I have been buying tokens on different price ranges because I used to think that this will help me average out the price but now I am not sure what will be the next price moment. I want to buy more SPS but at the same time, I do not want to buy at a higher price if there is another opportunity to buy more at a lower price.
SPS stake is Rewarding
Holding more SPS tokens means we can earn more who various ways including the apr of approximately 25% in the game as well as the additional airdrop for GLX tokens. Now since we can get the token at a lower price then I think it is going to be an updated deal to build a decent holding during the red color market. I hold almost 80000 SPS in my account but seems like this way I should be able to hold more and increase my overall SPS stake.
SPS price
The current price is in a declining trend and may drop further as we cannot credit the next fluctuation movement of the token. Maybe we can get it now at the bottom or maybe there is another bottom that we are not aware of. I am not concerned about the price that it is available now because I believe in the project and I am sure this token will be more valuable than it is now. Even this is highly undervalued this time when the game is doing good in various aspects and soon we are going to have lands soon. Below is the chart showing the current price for SPS coins in the market and to be honest I see these as a better deal because I am not sure if you are going to have it for so long or even if this is going to drop further. I believe that SPS will reach $1 again and this might take some time. This token has got a lot of utility in the game and I expect that over a period of time we are going to see many more utilities added to the same.
My SPS Goal
My plan is to have 100K SPS in my account as soon as possible. I am keeping a close eye on the price and will see if this is a good opportunity to buy more so that I can move forward toward my goal. I hope that with the current market where most of the coins are available at discount it is a good time to accumulate more. If I can accumulate more than 100K next, I also think it will be a great option and surely a worthy deal in the long term. The current price is low and I see these as more of an opportunity to bag more instead of worrying about it because I'm not going to sell anything so the current price is not a concern for me anyways.
I have been accumulating multiple assets in the game and SPS is also one of the coins I want to hold for the long term. These days the price for GLX is also low and I am accumulating that as well. I hope that with all these assets in the game they will be a decent passive income in long term. The game is in a growing state and a couple of years from now we can see that the decision that was taken at the right time has helped a lot. Let's see how it goes and what will be the next price movement for the token in the market. I will also try my best to buy more at a lower price and then deposit all in the game account.
Thank you