Bottoms UP: The Pain Is Real

over 1 year ago

I'm not sure why I was surprised as everything is pointing towards further dips but when waking up today and checking the price of the HIVE token I can see it dipped below the $0.30 USD mark and I was just that (Surprised). While being at $0.28 USD isn't all that bad considering the current state of today's overall cryptocurrency market what is bad is its very likely we haven't seen bottom yet. I thought we had a little more time before we dipped below $0.30 but I guess not. I hope you weren't doing the same as myself and trading into HIVE over the past few days because if you were you just took a hit. We might be at $0.28 now but who knows the price might start looking attractive enough that investors in other bleeding markets decide to store some of their value in HIVE. It won't likely be from the Fiat world as they/we are also not in a good state when it comes to finance. That leaves the cryptocurrency world and if any part of that world is looking to trade for HIVE its likely tokens already in the HIVE ecosystem such as DEC or gaming NFT's. With that in mind lets check how Splinterlands is doing.

Splinterlands NFT's

Looking at the cards in my RentMoney collection it seems as if the price of them has been holding steady. They are experiencing a very slow dip but nothing compared to other markets. Their overall value is grossly down from peak amounts but still way up from their original sale points. Splinterland NFT's just might be the best place to store value at the moment but comes with risks.

Splinterlands DEC

One of the main tokens of the Splinterlands community is DEC. The game itself accepts DEC at a ratio of $1/1000. However for the past X Months DEC is very much below that peg value on secondary markets. This opens up a potentially huge opportunity for those who are risk adverse. DEC dipping in USD value also allows for potential savings for anyone who wants to purchase assets directly from Splinterlands. Going from X Currency to DEC to the asset you want will have you paying less compared to using X Currency to pay directly. While DEC has further dipped in USD value over the past 24 hours; it's HIVE value has increased due to HIVE dipping in USD value further than DEC has. For those who base their trade ROI on the amount of returned HIVE/DEC Per HIVE this isn't good news. For those coming in with fresh Fiat it means bigger deals can be had. Its likely DEC continues to dip (in the short term) because currently there is a big end of year sale going on for Splinterlands assets. Once that sale is over and with nothing new in place to prop up the value of DEC I suspect we will see further dips for the token. In truth I suspect DEC to hit near all time lows before going on a rally to reach its peg value.

Splinterlands SPS Token

Wow what a hit! The markets have been harsh and SPS felt that pain. Currently SPS is selling below $0.03 USD and I don't see any reason as to why that dip will stop anytime within the short term. There is just too much of it out in the wild and with the price being what it is, not many are looking to spend it. What will push SPS back in the upwards trend? A bullish market is the obvious answer but we can't wait on that. The answer is DEC (Yes the token we just went over). Once DEC manages to get back to peg any value above that peg is going to go directly to SPS. When will this happen aside from an unseen bull market taking place? A number of things can help DEC get to peg: (1) Land being fully implemented with card staking and lots of "land stuff" to spend DEC on (2) When Splinterlands introduces the games new NFT set (3) GLG being a success/ With Splinterlands being the parent company and SPS holders getting airdropped GLX tokens any success GLS has will impact Splinterlands. Keep in mind SPS is still well above its original sale point in which I think was $0.018 USD but don't quote me on that.

Further Thoughts:

Opportunity is knocking but is it too risky to answer the door and let it in? Do I believe these assets will turn around and go past their current USD value? Absolutely, for me its not a matter of if they will but when will they and can they sustain that growth. If you have that same mindset the questions then become (1) do we reposition ourselves in such markets (2) do we push more value into such markets or (3) do we hold strong and wait out the cryptocurrency storm in which most of us are all too familiar with. Then there is always that nagging thought, Is now the time to sell. There is no correct answer, each of us has to do what we think is best for our own portfolios. What-ever you choose I wish you the best with your investments. Of course there are many other assets on this awesome chain known as the Hive Blockchain. I only went over the ones I know the most about and am heavily invested in myself. Some of those opportunities are LEO (LeoFinance Native Token). The Splinterlands very own blogging token SPT which currently is flying under everyone's radar. We also have upcoming games such as PSYBERX that is in current development but has the unlucky task of being born in a bear market. The list of projects and opportunities go on and on.

Disclaimer: Nothing in this post is financial advise. I routinely make bad financial decisions so keep that in mind before you make any decisions based on anything I write about. Also keep to the golden rule of investing. Don't risk what you can't afford to lose.

What is Splinterlands

Splinterlands is a blockchain game built on the Hive Network. The game itself utilizes NFT's for game play. These NFT's can be won in battle and/or purchased from the official Splinterlands marketplace or many other secondary markets. Game play rewards players with cryptocurrency and in game assets. Click here to get started with Splinterlands.