SPS Market Analysis May 2 – May 8 2025 | Splinterlands #439
The crypto markets have started May with a bang, with the bulls taking control of the bears. BTC smashed past $100k after President Trump dropped news of a trade deal with the UK, a move that the market is positive, but details are sparse, and it will be interesting to see how this plays out. ETH jumped nearly 13% to over $2k, while ADA also jumped with a 9% spike. A lot of the positive sentiment has been fueled by a solid April jobs report that eased recession fears. The past week, Stablecoins were also in the spotlight with Tether gearing up for a US-based version, and PayPal managed to dodge an SEC probe into its own dollar-backed coin. On the regulatory front, the SEC is softening its stance under new chair Paul Atkins, with staking rules up for debate and lawsuits against Ripple and Coinbase fading. But amid all the euphoria, not everything is sunshine and roses -- the Senate Democrats are not happy with the Stablecoin bill, and Maxine Waters blocked a crypto hearing over Trump's memecoin ties.
SPS Weekly Performance Overview
Let's cut to the chase on Splintershards (SPS). The past week saw it hover around the $0.01 mark, with a slight dip of 1.7% from $0.01030086 on May 2 to $0.01012373 by May 8, which is showing a tight range after last week's 25% correction. The chart for the previous week shows that SPS has been consolidation mode, which is not a bad thing!
Market Analysis -- Trends
The Conclave Arcana pre-sale is hitting its final days with 1.3 billion DEC/Credits spent. The Standard packs are 21% sold (105161), Alchemy at 52.9% (52907), and Legendary at 20.1% (10065), with the pre-sale deadline on May 11. To celebrate the approaching pre-sale window closing, the splinterlands team have announced that to honor splinterlands co-founder Matt and the game's roots, a special Archmage Yabanius promo card is dropping in Conclave Arcana packs. These cards are pre-minted, distributed by chance based on the pack. The splinterlands Google App just launched too, and while it's not a fully featured version of the game, it will come as the splinterlands team is operating on many fronts, but it's awesome to see all the updates through. Hence why I say the consolidation of the price action backs that up. The $0.01 feels like a solid support base, and I'm cautiously optimistic long-term and splinterlands seems to have weathered worse.
Market Analysis - Volumes & Liquidity
Daily volume averaging $97450 is a red flag and way off the $200k I'd want to see for a sustained rebound. The pre-sale SPS burns could tighten supply and boost volumes, especially with DEC so close to its peg. But right now, the market feels lukewarm, and we need more momentum to break this rut.
Market Analysis - Key Support & Resistance Levels
SPS is holding to that $0.01 key support level I flagged last week and key resistance sits at $0.011. With BTC pushing above $100k, it may provide momentum for SPS to push towards $0.013 - $0.014.
Concluding Thoughts
With 1.3 billion DEC/Credits spent and the May 11 cutoff looming, the splinterlands team dropped some major news in releasing the Archmage Yabanius promo card which could see a flurry of activity. Also, seeing a renewed focus toward the mobile front with a relaunch of the Android app is promising. SPS at $0.01 is a solid key support level and I'd love to see volume hit $200k and break $0.011 for a $0.013-$0.014 run. BTC's $100k strength helps and should provide that momentum. Good luck to those getting involved in the final days of the Conclave Arcana pre-sale.
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