This time the price for SPS is too low, which I think is the lowest I have ever seen. I am not sure why its low but its obvious that more selling is happening in the market. Honestly, I don't see any reason to sell SPS at this price because its too low but it looks like Whales are not going to stop their selling. I have been buying SPS continuously for a long time and now I am not sure what should I do. Although I want to accumulate more if its going to drop further then better wait and buy later because this can get me more tokens.
This is the price chart for SPS as of now and this price is almost 1 cent. Can you imagine that this is the same token that valued almost 1$ at some point in time but now its 99% down? A matter of worry because the investment is going down and I never expected its price to drop like this. Its market and fluctuation is obvious but this is not the situation. Its hard to say anything about the SPS price now because it also goes down below $0.01 looking at the current market sentiments. Its the governance token of the splinterlands game and comes with certain additional benefits but I think the pricing is important for any coin in the market. If the holders keep on selling then prices are bound to go down and people will lose interest.
At this point, I have decided that I will wait for some time and will put a pause on buying. This is because this way I can see if I can get SPS at an even lower price. Who does not want to buy at the lowest price and even I am doing the same. While I am going to put a pause on buying I will continue to stake whatever I earn through my holding. If this price gets stable here then I will start buying again but not unless the price looks in the stable range and no matter at what price it gets stable.
I have some SPS points with me that I am going to power up because there is no point keeping these tokens in liquid form and the moment I deposit them in my account then it starts earning APR. Currently, this app is more than 13% which is surely very good and I don't want to miss this opportunity to earn as much as possible because ultimately higher token count means better rewards in the game and this is how I'm trying to build my sps folding in the game. The token utility is very good because we have many things to do within the game ecosystem and one of the best use cases is linked with the game reward which means the higher the SPS holding the higher the reward multiplier you are going to get which will result in the better reward.
The league I play gives me a boost of approximately 8X but I need to grow it more and hope that once I reach 200k SPS then this will improve. It will be good for my gameplay but yes, it will not be enough if I continue to play in champion as that requires a bigger count of SPS. I just hope that the SPS price improves so that people don't lose interest in the game and in the upcoming bull run we may also expect a lot of new players to get onboarded.
Thank you
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