The pace of pack purchases has reduced in recent times and it has actually coincided with the news about a DEC stability mechanism being introduced. The pump in the price of DEC probably has everyone wondering which approach to take in the face of everything going on.
In the past week, we've seen SPS lose a bit of value and DEC gaining in the market because it is trying to climb back up to the peg. For anyone that's not in the loop, this climb is due to the fact that DEC is officially going to be placed in the psychological peg of $1= 1000 DEC through products in the game.
The concept has divided opinions but this is something that we have known for a very long time. The DEC peg was inevitable and it will be a slow process but I reckon we will achieve it in the coming weeks.
In a short time, we will be able to burn SPS tokens to mint DEC at $1 to 975 DEC and that will set things in motion to achieve stability. I expect the price of assets that are traded with DEC to be affected and I'm particularly fascinated by how this will affect packs.
Buy packs now or later?
At the time of writing, each chaos legion pack still costs a flat rate of 4000 DEC and that is regardless of the market value of DEC. However, if the peg finally gets sorted out, each pack will cost a flat rate of $4 and that is considerably higher than what it currently costs.
The question for me is, do I buy packs now or should I wait until later, when DEC value has pumped all the way up to the psychological peg of $1= 1000 DEC?
I've not bought packs in a while, particularly as the price of purchasing them has dramatically increased. However, for whatever little it is worth, this pump in the value of DEC to peg means that pretty much all the packs you bought in the not-so-distant past will have gained value or are in the process of being flippable.
For me, the bigger picture is all that matters and figuring out how to navigate this bear market to make some profit will be important. Packs are basically tokens, however, they house NFTs and right now, NFTs are generally taking a beating in the market.
So, while buying packs now opens up a flippable position for you, is it worth it if your plan is to actually open the packs, especially considering the NFT bear market?
Hodl DEC
I decided to conduct a small experiment with DEC by converting a little Hive in my wallet. At the time of writing the total value of the Hive was around $39 and today, that has risen to $42 worth of DEC.
Immediately I read about the plan to get DEC to the peg, I bought 54k DEC with the Hive I had and so far so good, it looks like the move will be in my favour.
If I wasn't poor, I would have bought a ton of DEC and watched it climb. This is probably one of the easiest flips you could do right now, particularly in the current bear market we find ourselves in.
At the time of writing, DEC is among an elite class of assets that are actually pumping these days. Daddy BTC, Ethereum, Hive and everything else is experiencing red days, while DEC looks to be slowly climbing up to its peg.
So, in my opinion, I think in the short term at least, buying and holding DEC is the way to go. However, at some point in the future, you could then start buying packs or your preferred monsters with the now more expensive DEC.
Keep in mind that with the pump in the price of DEC, it is quite possible that NFTs will also become more expensive, so you have to time your approach to ensure you squeeze out maximum value from your trade.
