Why I am bullish on SPS | Reviewing my SPS Goal
I have been bullish on SPS from day 1 of its launch and I have been staking all the tokens I receive. There are certain reasons that make the splintershards token a valuable one. We have got it for free and even we are getting it now but airdrop does not mean that this coin is not valuable. I have to mention that splinterlands has created history with its airdrop because this is the first (as far as I am aware) project which has given airdrop for a year and this itself shows the long-term vision of the project. The distribution criteria were simple anyone who is part of the game is eligible for the drop as per their holdings and even people can join in between.
It takes daily snapshots of the holding so it also gives an opportunity to everyone to be part of the game and get the benefits of the airdrop. SPS price was around $ 0.6 when it was launched and then it was grown to 1$ approx. however, there was a sudden drop in price and this moved it down to $0.30 approx. This drop was probably because of selling pressure as lots of people started dumping when the price was high but again it took a ride and went back to $1 price mark and even stayed there for some time.
As per my experience, I have seen in any airdrop that price drops because of high selling and it's a normal practice so the same happened with SPS also. This took some time and in between more people started selling including some investors who have moved the price in the range of $0.10-$0.15 and it's been quite a few months and the price is moving within this range.
It's good for the people who believe in the project because now the same tokens are available at a discount of approx 80-90% and I don't think that there can be another opportunity better than this. Even though I consider this as an opportunity and I am able to buy a good number of tokens at a low price and I expect the price to stay here for some more time but I know that is something now in my control. Even the recent crypto.com listing has pushed the price slightly higher.
Why I am bullish?
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SPS is a governance token of splinterlands and comes with certain added benefits which will be provided exclusively to the SPS holders. For example- Holding SPS pays an apr of over 24% as of now however it was started with the rate of 500% in the beginning and kept on falling since then. It's obvious because when the staking pool grows then rewards are reduced. I even find this apr a good option to hold my SPS. On top of this, I also get a voucher token as per my SPS holding the current price of a voucher is approx 2 hive which is not bad at all.
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SPS has played an important role in the first sale of the Chaos Legion pack and it will do even more in upcoming rift-watcher packs. As per the update shared by the team, packs will be purchased using SPS only so this will increase the demand for the token.
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Sooner or later, I expect that SPS will reach its 1$ mark and it may take some time which is fine however this will highly likely happen. So, it's like grabbing as much as we can at this price because this may not last long.
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The ongoing airdrop will end in 84 days and once this is over then selling pressure will reduce and that is going to result in a price increase. It's a great deal for any investor to buy now and sell later when the price is high but for players like me also a great deal to buy more and hold for long to be part of many ongoing and upcoming benefits on the project.
So, these are some of my reasons and this is why I am trying to accumulate more tokens. My goal is to reach 50k SPS and currently I hold almost 37k tokens and I am left with approx 13k to accomplish my SPS goal. I am confident that by the end of airdrop I would be able to achieve it.
Thank you.
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