I haven't really been up to date with Splinterlands so much anymore, but it seems to me that something not so favorable happened in Spring of this year. Back in Q2 of 2025 DEC last traded at peg at 0.001. This coincides with the release of Conclave Arcana, which was a success. But after that we saw a decoupling again. While past decouplings were always fairly brief, this one has lasted much longer. Bit only that, but DEC is now making lower lows on a daily basis and is now 80% below peg! What has happened?
We can also see that starting in April/May of this year DEC crashed another 66%... This comes after the release of Escalation. But what this signals to me is that there seems to be a fundamental problem with Spliterland's economy. The infamous flywheel never materialized and DEC should have become a scarce asset by now, since players would need it for in game assets. Again, what happened?
We can also see this weakness in SPS which has seen a 66% decline since Escalation. The previous support at around 0.004 has fallen and since June SPS has been in a free fall. There doesn't seem to be a floor anywhere soon.
That Splinterlands is still standing after such a dramatic devaluation across the board is remarkable. No doubt that it has been the small but strong player base which has kept SPL from sinking like most other WEB3 games. As long as there is genuine interest, I suppose the game will survive - although it seems to me that the tokenomics and the in game economy need to be fixed.
If you are following SPL news more closely, I'd appreciate an update as to what has triggered the strong sell off.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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