Looking ahead to what's in store for Splinterlands and SPS, I see 2 possible catalysts that could drive upward price pressure on the token.
As we've covered before, with the ongoing initial investor release and airdrop, there is a downward pressure on the price as many look to exit on their positions after a solid gain or use the airdrops to buy cards and in-game assets. This has been somewhat exacerbated by the Chaos Legion release as the demand for new cards is even higher. The good news though is that these all have a deadline within the next 6 months.
In that time, the two catalysts I see that could counteract the downward price pressure are the SPS Governance features as well as Riftwatchers. Both of these are slated to come out by Q2 of this year and add a tremendous amount of utility to the SPS token. Whether that will be enough to push back against the airdrop will remain to be seen.
The good news though is that some of the airdrop sell pressure we are seeing may actually decrease as more utility is given to the SPS token. With tournaments becoming a larger part of Splinterlands and SPS ranked battle rewards coming in the near future, the whole dynamic of how SPS is used within game may change dramatically for the better.
Not financial advice, but I'm continuing to stack and stake.
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