Four days ago, I talked about the potential of DEC pumping due to potential changes in Splinterlands that could lead to more demand. At the time, I converted roughly $169 worth of Hive to DEC to test my hypothesis and it seems like my prediction is starting to come through as DEC pumped by a bit over 11% since I made the publication.
In the aforementioned publication, I talked about how sitting on a pile of DEC right now is basically one of the easiest 30+% flip you could find during this bear market. At the current state of the market, I reckon that is decent profit from flipping a single asset and a single high-volume trade of this asset could cover the losses during the bear market.
Yesterday, I talked about the introduction of a new recent proposal in Splinterlands that will see participants in guild brakes earn SPS rewards. This is also a move that I predicted would have a positive effect on the price of DEC as various guilds will be levelling up to climb up the tiers and earn more SPS tokens from brawls.
Since conversations about the proposal hit the internet, we've seen interest in DEC rise to the occasion and signs point at this trend continuing until we hit the desired peg rate of 1000 DEC to 1$. There is still some way to go until we reach that value, so it is about watching the numbers.
Speaking of the numbers, at the time of writing, DEC also accounts for the highest 24-hour trading volume in the Hive blockchain. At $56,372 in the last 24 hours, DEC trading volume even surpasses SPS and once again, I think this number will continue to rise as the days go by.
What about monsters?
Well, just as expected, the rise in the value of DEC has led to a rise in the value of monsters. According to Peakmonsters, the total value of my deck pumped marginally in the past couple of days and I reckon this trend will also continue as the days go by.
I don't have plans to flip monsters, so I'll just continue holding through the winter and using them for ranked battles as I've always done. Despite the rough start to the season due to poor Energy capture rate management, things have gotten much better since I created a working scheme.
Anyway, if the plan is to flip monsters, you should really be looking at Rift Watcher monsters, as they seem to be the most positively affected by the price of DEC. Most of the gold foils and certain legendaries have experienced marginal pumps since DEC started pumping, so I reckon the trend will continue for as long as DEC rises.
The interest in Chaos Legion monsters seems to have waned quite significantly, so if you're a brave trader, you should be looking in that direction for some unearthable gems. With conversations about a proposal that will allow the burning of Chaos Legion packs in circulation coupled with increased interest in DEC, it is possible that CL monsters' value also rises in the process.
In summary
The value of Splinterlands assets is often intertwined, so the effects of price action are often felt in multiple folds. For now, we know for sure that there are plans to push the value of DEC to the peg and we know that it will most likely have a positive effect on the price of monsters.
On the other hand, there is already a proposal that will lead to more SPS inflation and introducing DEC as an option to buy rift watchers could also lead to more SPS tokens either being staked or fewer SPS being burned. The important questions to ask are; where does the pendulum swing and how do we position ourselves to benefit from any swing?