I have been tracking the price for SPS tokens closely for the last few months. We know that the price of this token was increased after the announcement of the rebellion and land but now looks like it is in a downtrend because the price chart is showing. The price for SPS was less than 2 cents for a long time and this was the time when I could buy more tokens but after the price spike, I had to put a pause on the buying. Now since it is dropping and I will not be surprised if it reaches the 2 cent price mark then I think that will be a good buying range.
It is a governance token that comes with certain benefits in the governance part of the game however even if that is not considered then also we are earning a good percentage of APR on the holding as well as it makes the gaming reward better if there is a decent holding.
SPS Price
I always believe that the bearish market is the right opportunity to build the holding and with the SPS also I am trying to do the same. If you look at the below chart you will observe that this year 2024 has not been good for the SPS as you can see the downtrend in the price. It is certainly not good for the people who are sellers but good for the people who are buyers and who want to buy even more. I am a buyer and I want to buy more but I expect the price to be around $0.02. It may happen or may not because it is a market and things cannot be predicted completely but it can be a possibility because in this market anything is possible.
Powered Up SPS
I had some liquid tokens in my game account as well as in the hive engine I transferred all to my game account and powered up. There is no point in keeping these liquid tokens because once I power up then it become part of the APR and also it contributes to an increase in the boost reward. We already have the reward multiplier in the game where a bigger stake of SPS means a better reward in the game after the season ends. We can avail up to twelve lakhs multiplier but with my current holding I'm not there however the gap is pretty small as per my current league. I prefer playing in the Diamond League and for that I need 160K SPS to be eligible for a 12X reward multiplier and from my current holding, there is a gap of approximately fourteen K sps.
SPS Holding
This is my current SPS holding and if the price for SPS goes down to $0.02 then I expect that I will be able to fill this gap soon. This is my strategy of buying the SPS and all the buying for this token is going to happen for the long term because I'm not planning to sell soon and this is because I want to empower my game and want to avail the higher multiplier for the reward.
The current APR is 13.6% which I think is very good and it worth is taking the token because this percentage cannot be underestimated whereas I am not considering the value appreciation which is most likely expected to happen in the next bull run cycle. It is the same token that was valued at almost $1 at some point in time but now it is less than $0.03 however I expect that ten X from the current price is possible for sps.
Do you expect the sps price to go back again its one-dollar range? It may happen but I think it will take some time however 10X from the current price is possible in the next bull market cycle. This is what I believe but it's not financial advice anyway since I'm not an expert however my strategy is based on the long term because I believe in the project and token of course and this is why I continue to accumulate this token along with various tokens on this chain. My investing formula is very simple I try to build more when the market is down and wait for the right opportunity to sell and book profit and it's fine if it also takes a couple of years because I am not a short-term investor.
Some images from splinterlands.com where the source is not provided
Thank you
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