Splinterlands Shards (SPS), like most of crypto, has been having a rough month. And year. However, the last week has seen a positive trend. This past week has been the best week for SPS since September.
This positive trend was also seen by Bitcoin, the overall crypto market, and worldwide stock markets. It will be interesting to see if recent SPS gains are merely correlated with larger market trends, or if it can keep increasing under its own power.
These gains are not enough to offset the losses of the past year, but it could be a sign of a stronger 2023 for the token. I certainly hope this is the case, as I have been powering down my HP and buying SPS. I will be happy if this signals the end of the slide of SPS; I don't need it to "go to the moon", I will still consider it a win if the coin remains stable.
Considering how quickly Splinterlands prints new SPS, I hope the team continues to find new ways to soak up these tokens at a similar rate. Currently, you can stake SPS (effectively removing it from circulation), convert SPS to DEC in order to buy packs and cards on the market, and purchase validator licenses.
I am considering locking in some of these gains by selling my SPS due to my long-term inflation concerns. I don't plan on un-staking any tokens, but I may be converting some of my rewards to HBD. HBD is less volatile, as it is pegged to the dollar in theory, and currently has a savings APR of 20%. This is lower than the staking APR for SPS, but it might be worth it for the lower risk.
Disclaimer: Not financial advice
