The crypto market is volatile and we often see price fluctuation in this market however sometimes these fluctuations can be and even the bear sentiment can be for the long term. Similarly, if any project is built on the base of cryptocurrency then we can see the same price volatility on its asset as well since the core is based on cryptocurrency. Here I'm talking about the splinterlands game which is one of the leading blockchain games. We can also call it play to earn because we can earn assets with monetary value by playing the game however this is not part of the traditional gaming. No matter which game you play in the traditional segment, I hardly believe that any asset will have some monetary value however with the splinterlands that is not the case.
The crypto market seems to be in recovery mode but this process can also take some time because we are expecting better market sentiment in the next year. Bitcoin halving is scheduled to happen in the next six months and after that, it is expected that the market will start to recover fast. The bull run that we have been going through has taken long and probably it may take another year or maybe more because we just can't predict everything in this market. If you go as per the historical performance of the market then we can say that the year 2024 can be good. The Bitcoin market has gone up after the halving event and it has broken its last all-time high with the new market cycle. If you believe in this then 2024 can be one of the years where Bitcoin can cross its last all-time high which was almost 70K US dollars.
Those who think that the crypto market is one of the places where we can make easy money then you are mistaken. Maybe some people make easy money here but that percentage is quite low and I say this has a reason. Sometimes what we plan in this market does not work and in that situation, the right strategy would be to hold for the long term and neighbour sell on loss. It's like building assets over time especially when the market is not doing well and following that I can say that the current market sentiment is more of building the portfolio for the long term. This can be the next bull run cycle which we are expecting to happen in one year or maybe move but it is confirmed that it will happen however not sure how much time it will take.
SPS Market Price
I have been building with splinter lands for a long time including different assets and tokens as well. SPS is one of my favourite coins in the game and I have been trying to accumulate as much as I can. The current price is low which I am not concerned about because this is helping me have more coins and I know that sooner or later this coin will gain its value back. I can't say when is it going to be one dollar but I easily believe that half-dollar SPS is possible and might happen in the next few years. But in the meantime, since I'm a player, I want to have more SPS in my wallet so that I can get better gaming rewards and that is what makes a bigger difference for me as a player in the game.
Growing SPS Stake
We know that the reward multiplier has been introduced in the game and it was implemented in July. This was already announced and even before that I had been accumulating more spears but because of the price pump, I had to put a pause however now I resumed my SPS buying again. I bought some SPS today and did a stake in my game account. There is no point in keeping these tokens in liquid form because it does not bring any value but if I stake in my game account then it is better because I can generate an APR of approximately 15%. I also get the higher multiplier for the reward which is what I am trying to grow for my account.
It's important to have a stake in the game because with a bigger stake, we get better rewards and I am following the same. After this staking now I have 139k sps in my account with a value of almost $1900 as of now but this value is not the concern.
Ultimately I want to have 200K SPS but I know that it is something that will take time however I continue to power up as much as I can from time to time. I have not rented out my SPS power and there is no undelegation I ever started and it's because my strategy is simple to grow the holding and use it for my own gaming experience. I end up almost every season in Diamond League now but because of the fewer sps holding I do not get the higher multiplier and this is the reason why I want to grow it further so that I can get the 12,00,000 multiplier on the league I end up the season.
In my opinion, this is still a great time to buy more spears from the game point of view as well as for investment because this can be a good source of passive income. Even now when the token price is low the SPS stake reward is almost 15%. This APR is pretty good I would say because in the market getting this much is not easy and since the price appreciation for the token is expected to happen for sure hence that is going to be the additional benefit for the investor and whatever reward you will generate in the game is like a bonus.
Thank you
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