Does SPS need more Exchange Listing ?

Exchange listing is important for any coin because listing on a bigger exchange means more trading volume. We can also say that more people notice the project and that is good for the project. Ultimately every project expects to have more users/investors and this is a parameter on which the growth is considered. Splinterlands is the leading play-to-earn game project and it also has got good user base.

The governance coined for this project is called SPS and it is already listed in a couple of exchanges but they are not as big as Binance. this is listed on various decentralised exchanges as well as some centralised exchanges which means we have a bigger community that is aware of the token. Despite all these the token value has been dropping and probably the reason why this price fall is the current market situation and of course the year-long airdrop. This is the only project I have come across that has done the airdrop distribution for the entire year and people have got a bigger number of tokens for free. It's free money for many who have been earning it and the same impact can be seen on the market as well. Not everyone can be the long-term older however we expected but the reality is just the opposite. I am not saying that people are not here with a long-term mindset but not everyone shares the same.

SPS Listing

Below is the list of exchanges where you can find the sps coin and this includes some centralised and decentralised exchanges. You get a variety of exchange options to choose from which is good because you are not just limited to one exchange instead you can decide which one you want to use for transacting on sps. in my opinion the coin has got a pretty good listing on the number of exchanges but I am surprised that despite all this listing, the token is losing its value and the market cannot be the only reason for this.

SPS Price

This is the price chart for the last month and you can see that the price has been on a downtrend however it increased when the change was implemented last month but it did not last for long. currently, it is quite low and I expect that with this momentum it will go back to its previous price mark which we had in June month or probably before the change implementation in the game.

src

In the last 24 hours, the trading volume is 275K USD and I think its low while this should be at least a million. Splinterlands is a bigger community and as per that this trading volume is surely less.

Change was good?

When the change was implemented in the game every player was required to hold SPS power in account to get a better reward. 1 X reward will be distributed to everyone without the need for holding but if someone expects better rewards then the SPS is the requirement and based on the available holding the multiplier will be applicable. Because of this change, we have seen some positive movement in the token price but it did not last long and I am surprised. did everyone get enough amount of tokens in their wallets to deal with this change or they are not interested in getting better rewards in the game?

I have taken a note to see any bigger demand in the rental market for SPS but I was expecting a lot over there. Maybe it is in the early stage and things might get better later on but to be honest, the current price is not good for the sps holders because they are not earning much if they choose to rent out their sps power.

SPS is listing on the average exchanges I would say which are not small and even not so big but the ones that have better volume in the market. I believe if the sps coin gets listed on any bigger exchange for example then it is going to increase the trading volume and probably that will also bring value appreciation to the token.

I believe in the token even now when its value is very low and let me tell you that the token value is now less than two cents and at some point in time it was almost one dollar. this way the coin has lost its value by more than 90% and its bigger percentage. I still believe that as peers will do well and it is just a matter of time so I keep on bagging more tokens in my bag because it can help me have a better gaming experience and even when the price appreciates it can be much more valuable. This is my thought and belief on the token and it is not any financial advice from my side so if you are interested in buying then please do your research before investing.

Thank you

(images are from splinterlands if source is not mentioned)

Posted Using LeoFinance Alpha