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Splinterlands Daily Focus Champion Chest - Gold Foil | Crypto BTC, HIVE, SPS, GLX, DEC, FORGE (January 26, 2023)

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Splinterlands Daily Update

  • 5 Champion chests, hard to earn more while playing Diamond II in Wild format
  • Yesterday's 13 Diamond chests look way more impressive

Daily Focus Chests: +5 Champion | 54 Diamond Total

Continue to make progress in Wild

  • I tried to play a game in Champion, straight loss
  • Now I am out of credit to play Modern Champion until progressing Wild to the Champion League
  • Or should I? Getting more Diamond chests ain't bad either

  • 299 ratings improvement today
  • Went from Diamond III to Diamond II

It was a tough Brawl season

  • Crazy losses

  • Triple battle rulesets are in Brawl too

  • 29 SPS

Crypto Market Today - HIVE pump

BTC is back to crabbing ๐Ÿฆ€๐Ÿฆ€๐Ÿฆ€

Another HIVE pump, now 40 cents ๐Ÿš€๐Ÿš€๐Ÿš€

HIVE gained against BTC ๐Ÿš€๐Ÿš€๐Ÿš€

SPS, DEC, GLX, FORGE

SPS: $0.028, flat for 4 days ๐Ÿฆ€ GLX: $0.026, ๐Ÿฆ€ DEC: $0.0006931 ๐Ÿฆ€ FORGE: $0.0007272 ๐Ÿš€๐Ÿš€๐Ÿš€, wow... FORGE is worth more than DEC!

Reflection on the state of the markets

It feels like bull trap, or bear market rally.

Interest rate is expected to increase again in the coming week, companies are laying off, very soon as recession is confirmed and companies lower their forward guidance, price/earning multiples will have to adjust downwards. (Stocks are overpriced, we don't have the real capitulation yet)

Some may argue technology helps with productivity, and therefore improves the profitability of companies.. that's half the truth.

Top line, which is the revenue, is difficult to improve when more and more people are tapped out. It is expensive to borrow, and existing floating rate loans are eating into people's cashflow, some may even default or away from their houses. People have less discretionary income to spend or invest.

Follow the money...

It is drying up at the moment.

If the prices don't continue to go up, soon the technical will catch up and the trend will reverse.

It takes continuous injection of capital to keep the current price level afloat, but for how much longer?