It has been two months since my last post about my journey towards half a million SPS staked. Let's take a look where things stand.
Two months ago I was at 418,798 SPS staked:
As of today I am at 435,122 SPS staked. That is a difference of 16,324 SPS or around 8,000 SPS per months:
What you will notice is that while my SPS balance increased by over sixteen thousand SPS tokens the value of my total SPS went down from $4,071 down to $2,994 USD. That is a drop of $1,077. Crypto is definitely volatile. The whole altcoin market has been dropping in the last two months. Let's see how SPS value compares to some of the other major altcoins:
If we compare SPS to ETH it has underperformed ETH since my last post on December 11, 2024 by about 2% with ETH down 28.5% and SPS down 30.78%
While many people say that Ethereum has been greatly underperforming if you take a look at other popular altcoins such as AERO ( Aerodrome Finance) which is a main token on Base chain. Coinbase chain then you can see that SPS actually outperformed Base by around 32%! So things are not that bad for the SPS despite the 31% drop it has experienced in the last couple months.
It might actually be a buying opportunity for the SPS.
What amazed me about SPS recently is how small the float of the SPS token is.
The total liquid SPS out there is only 103 Million SPS with 983 Million locked up in DAO and 943 million SPS staked. This means the total liquid SPS represents only 3.5% of total SPS that was released! We have burned 4.4% or 132 million and players have 31.4% of SPS staked!
Also, the total supply of SPS is only 3 billion and we are 132 million SPS away from getting to the max SPS supply. There isn't that much SPS left to be released!
With the next major card set to be released in just a few months right now might be a great time to accumulate SPS. Once the set is released we might get DEC to peg and start burning significant amounts of SPS again. DEC is currently 27% under its peg value at $0.73:
If you are planning to buy the new set it might be a good time to accumulate DEC at a twenty seven percent discount now.
So how long till I reach my half a million SPS staked? If I continue to accumulate at the rate of eight thousand SPS per months it will take me 8.125 months until I get to half a million. Which would make it around October of this year to accumulate the remaining sixty five thousand SPS.
I have recently became a Hive Witness and would really appreciate your vote for me as a witness.
You can vote the following way:
If you wonder what is the best way to get involved you can use my link to begin your Splinterlands and HIVE journey.
