The crypto market is in a dire situation and that's putting it lightly. Unfortunately, Splinterlands assets aren't left out of the rut, leading to widespread dumps across various assets affiliated with the game.
The ETA for recovery is still a mystery and all we can really do is hope but who needs hope when you have fantasies? The dark days have persisted for a bit too long, and my fantasies are premium copium.
DEC copium
Out of all the Splinterlands assets in circulation, DEC is probably the most immune to all the dumps. The asset has actually dumped in recent times but overall, it has been the most consistent across the ecosystem.
The main reason behind this stability that has enabled DEC to hover around its current price range is the decision to get the token pegged to $1. This has been a long-term dream for Splinterlands and in a way, we could say that it is the DEC fantasy.
Objectively speaking, I seriously doubt DEC will ever maintain the desired peg. Yes, it will get to the value and might even surpass it but it will not maintain $1:1000 DEC peg.
As long as the value of DEC is determined by trading activities in the market, there will be no stability. However, it is nice that we're trying to get it there, as it is ensuring that there's no hard dump in value.
The best case scenario is that DEC reaches the desired peg value for a couple of minutes and then drops or rises above. In some way, we could say that the DEC fantasy would be to magically get to that peg value and give holders a refreshing 28% pump in their purses.
In these dark days, 28% in the green direction is like a refreshing glass of cold beer after a stressful day. Will we see get that pump anytime soon?
SPS Dream
SPS token is in a very bad situation as the dumping across the market continues. The last time I checked, the unthinkable happened and the token dropped below 3 cents.
At the time of writing, the token hasn't still recovered and frankly speaking, there aren't signs of a pump in sight. As far as I can see, the token is going to wallow in this deplorable state for as long as the crypto market is toast.
In my fantasies though, I think there's some hope that could come through for SPS investors. It could come in form of a pump due to associated SPlinterlands assets connected to SPS token.
Close your eyes and take this walk down fantasy lane with me, you'll find that there's actually a possibility for an SPS pump. It is a long shot but that's why it is a fantasy and not financial advice.
Now that I've surreptitiously slipped in my disclaimer and that's out of the way, let's talk about how Genesis League Sports could theoretically lead to an SPS pump.
If you have SPS staked, then you'll have noticed that you receive GLX tokens daily. Perhaps the timing was unfortunate but this wasn't still enough to pump SPS token. However, why should that stop us from fantasizing?
In fact, last time I checked, GLX has plummeted to as low as 3 cents since its previous highs of 30 cents in the not-so-distant past. Again, why should this stop us from fantasizing?
In my SPS fantasy, some unknown quantity is introduced to GLS that catalyzes a major pump in the value of GLX token that invariably leads to a minor SPS pump. The SPS pump I'm imagining is nothing colossal but enough to give you that crypto tingle we all love so much
Alternatively, a sperm whale dumps their cash into the SPS market(pun intended) to buy validator licenses, and invest in monsters as well. For fantasy's sake, let's say Elon musk ran into a tweet by and developed a SPlinterlands addiction. We've seen him spend $44B on Twitter, so it's not out of the question.
Not looking good
Even in my fantasies, I can't see SPS pump higher than 30 cents and this includes any future bull market that comes around.
Splinterlands monsters aren't left out of the rut, as Peakmonsters depicts a considerable drop in the demand for monsters. This points to what I presume is a drop in activity across Splinterlands.