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SPS listing announced but not yet traded on Crypto.com

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Belemo
@belemo
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It has been a couple of days since SPS was listed on Crypto.com. In my publication, I shared my excitement and described a bullish scenario because of the listing.

Things haven't exactly panned out the way I hoped it would go. My best guess is that not many people in the Splinterlands community actually use the crypto.com exchange.

Crypto.com is one of the most valuable exchanges. It is ranked somewhere in the top 10 but I honestly don't think it is the premier destination for Hive people.

I've never actually explored Crypto.com's services because we're heavily reliant on Binance around here. For many others in the world, I reckon it is pretty much the same.

Anyway, instead of complaining about what is not, I decided to work with what is and started creating a crypto.com account. After verifying the account, I intend to explore how depositing of SPS works.

The verification process proved to be more tedious than I envisioned but it eventually got sorted out. I logged into the app and it looked very different from what I'm used to seeing on Binance.

The first thing that stood out is the fact that there's no where to deposit cryptocurrency. It looks like a place more suited for people that want to invest in crypto with their credit card but that's not even the major issue.

The real problem I noticed is that while SPS has been announced on Crypto.com, the token isn't on the list of tradable assets in the mobile application. If you use the Crypto.com application, perhaps you can check to see if it is on the list in your own side.

On top of that, I also noticed that since the announcement of the listing, there are next to zero publications that describe how to trade SPS on Crypto.com. For such a large exchange, I find this to be weird.

So it is possible that while listing announcement has already been shared, SPS token hasn't exactly gotten the boost in exposure that it would get when it is actually listed.

I reckon this could be the reason why the listing hasn't exactly led to any serious SPS price action. Perhaps when trading starts on the Crypto.com application and people get the option to buy the token with their credit card, things will be different.

The hype machine

SPS token have been relatively stable, just hovering in the 10-19 cents range for the past couple of days. The Crypto.com announcement only had a marginal effect on the price of the token but that has morphed back to the status quo.

I still think SPS is due one major pump before the end of the airdrop but that will come when there's some new development surrounding it.

The listing on Crypto.com was supposed to be the kick, and it still might be. However, even the news didn't really mean much to the public.

In any case, at least the listing on the exchange made me create an account there. I'll continue observing the mobile application to find out when trading actually begins.

I also think that listing on another exchange will add some fire to the hype machine. Not just any exchange by the way, getting listed on Binance will be really huge and will certainly achieve another major pump because Binance has more reach.

Anyway, progress is progress, and getting listed on Crypto.com certainly falls into that category. SPS is spreading its tentacles to new ground and hopefully that will bring in new money/investors into the ecosystem.

Posted Using LeoFinance Beta