SPS seems to be one of splinterlands' most valuable assets, not because it's performing well (which it's not) but because of the utility which inevitably brings a certain prospect to the price doing well over time.
There was a time this was DEC, but I think SPS has been gradually elevated and now stands as one of the most coveted assets in the splinterlands' economy. Originally without the GLS project, many people were already happy to hold and stake SPS, because of the APY.
But with the GLS project coming into the limelight, I think more value will be accrued to SPS, because it now compounds more assets without you having to move a muscle.
At the moment, you get more GLX tokens for holding SPS and you still get your daily interest rate for holding SPS. Although these profit scenarios are from two projects. GLS is a different project entirely and I do believe that when the project is fully launched it might bring its assets to play, meaning what they're going to be offering to the table, might be totally independent of splinterlands and SPS, I cannot totally say.
But the truth is that at the moment, the project has brought further awareness to SPS, they need to still hold it and the endless prospect of profiteering to those who hold and stake it irrespective of the price.
SPS whales on splinterlands are finally going to get the massive drop from GLX and the reason why I cannot envy them is that everything that happens to whales is huge. If it is a loss, it's more devastating, but if it's a gain then it's always bountiful.
However, a lot of people are now buying SPS to farm GLX. I cannot prove this, my point is since the yield rate is high, it's only natural that people will buy more SPS and more GLX for their staking pleasure and on a side note, I don't know why SPS is not going up. However, this is only at the moment. I think because of its utility, SPS will do well, even if it might not be up to the expectations of many people.
Slow growth doesn't mean no growth.
The most surprising thing is that there's no stopping GLX at the moment. I was thinking the dump will happen soon, because the price sort of reduced consecutively in two days, so I was thinking I could sell some of my GLX, expect the dump, then buy back later, but it's been days now and the price is still going up.
This wasn't usual. However, critically looking at it, the dump might be inevitable but one of the reasons why I think it's showing no sign of happening is because of the FOMO created by the awareness. a new yield King is in the town.
So this fomo is selling the excitement really well and I think it's a matter of time before the SPS/GLX whales decide to cash in on their profit. But I might be wrong, a dump might happen, but who knows, people who have been waiting might Just swoop in and buy back everything.
It's tricky because there's something about the GLS project that feels different. But, we can never tell the longevity of these sweet prices, hence trusting yields can be a bit difficult. So I have decided to take back about half of the GLX I sold and buy back.
The remaining half will go into when the dump happens. However, I'll keep buying little by little and staking and keeping faith in this project. For now, I'll also mind the staking of my SPS, since there's now something at stake.
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