Getting Greedy on SPS in the Current Market Price
Sps is the governance token of the splinterlands game and I don't know what is going on but the current price is low. There is slight crash in the market whereas even Bitcoin has dropped along with many altcoins. Possibly the current price deep is the result of the market down the situation and it has touched the lowest ever price of $0.02 and I never expected this price level for sps.
This is the same token that I have been buying since when it was approximately $0.25 and now when it is almost two cents then also I have the same thought of buying it more.
Below is the chart for sps where you can see that price is almost $0.02 and even the chart is showing a downtrend so it will not be a surprise if the price drops even further from the current price mark.
My SPS Holding is for Long term
I see a lot of people investing in meme coins and we all know that there is no use case for the token in the crypto market but still people invest and they expect some sort of miracle to happen that can make them rich overnight. Sometimes the situation goes in their favor and because of the market hype, they also make a great amount of money through such meme coins. I invest in sps because I'm sure that this is going to grow a lot and the current price is low which could be because of any reason in the market. This is not a meme coin and I know that it has got a lot of use cases in the game so I believe it is just a matter of time you never know when the price starts recovering and even if it takes longer then also I am OK because my investment on sps is for the long term.
My SPS Goal
my goal with sps is to have 100K tokens in total and currently, I am more than 97% off the goal so the remaining I expect should be achieved by this month's end. Now in the current market situation when the sps price is low then I am thinking to buy more tokens from the market and powering up so it will not just complete my goal but also it will surpass the same with additional tokens in holding.
Here is the snapshot of my current sps holding I hold more than 97 K tokens as of now so I am pretty much close to making it happen. Considering the current token price in the market I'm getting ready to buy more tokens and power up and maybe this situation can bring another goal to be in place which is going to increase the holding from the 100K. This weekend I am going to see what my plan would be on the tokens and another strategy I will think of related to sps token indie game.
I know that the current value is lace and whatever tokens I am holding right now show low value but that is not my concern because it is for the long term. When I invest in something for the long term then I have enough passions to hold it for many years and I know that this project is solid that it's doing well and growing even in the bear market situation. No matter how much time it takes but surely there will be a day when all the investor's honest peers are going to be happy with the decision they have taken and the patience to show for the long term.
I had a plan that I will be focusing more on the other assets once my sps goal is accomplished but seems like the situation will not change because I am thinking to focus some more time on an SPS. Let's see how it happens and what is the bottom price we can see because now I feel the current price is not the bottom if we look at the overall market so it is hard to say what is going to be the bottom price.
As I mentioned that I am getting greedy on sps to accumulate as much as possible but this is also going to increase my goal and a continued focus on sps for some more time instead of focusing on other assets in the game. What are your thoughts about this token and do you think that it is going to be the right decision for investing more on the token? Please do not forget that you will be getting almost 22% of apr on sps along with GL X tokens so if you add up all then all together we can earn approximately 30% on sps holding. Now considering all these parts in the game I would love to know what other people think about investing in SPS in the current market scenario.
Thank you
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To be fair a lot of tokens are down. It's ok as you are in it for the long-term so this price shouldn't bother you too much. It just gives you a lower point to buy more to average down the price you bought at .for me I'm done buying. Will just earn sps from scholarship and playing. Now need to diversity into other assets
I can understand and different people can have different strategies. I am buying with long term approach so I am ok to hold for many years even if the price remains same or low as I am happy with its APR which is over 20%
I think long term approach is probably the best strategy . Take the 20%apr while others unstake and sell now. Not quite sure why people selling now tho unless they really think it going down even more
yea nice prices, it's the right time to position ourselves well in the bear market. I'm buying sps also
the current price is surely nice and whoever believes in the project in the long term, must be happy to bag some discounted tokens. Selling is definitely not a good idea at this price
Selling Sps at 0.02 $ is like selling Eth at 1000 $ or Bitcoin at 16.000 $.
Absolutely. selling SPS at this price is not at all a good idea
Posted Using LeoFinance Alpha
I agree with your investment philosophy to buy and hold for the long term. In the end, this is the only way to build wealth. One must only make sure that the item you hold will increase in value in the future. Reading your post, it looks like you have a fair reason to believe that SPS will grow in value over time. Good luck!
SPS is highly undervalued I believe and its the same coin that was almost $1 once but now its around $0.02. I do understand that going back to $1 is not easy but still, I expect a significant price increase in the long term and this is why trying to bag as much as possible this time when the price is too low.
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Pump it...
😀
Buying sps at the this cheap price is no brainer. It is a very good buy that we must all consider
Right, and I am doing the same. I am also at 100k and will increase it more at this price.
I think you might be right on this and maybe I should throw few thousand dollars to it.
This seems like a good opportunity to fill the bags at this price but NFA.
Very good decision bro and I like it. I will buy some for future 2025
Just like what I did in October 2021 when I bought 870 SPS if I have 300 USD now, I will use all of them to add more SPS. I could not imagine that the same amount could buy 13,700 plus SPS this time. That is really a huge discount.