It is a little over a week since the stolen Splinterlands tokens got dumped. Now we are still seeing some of the effects in the prices. Maybe its just demand and supply who really knows. Today we look at the current status of the crypto prices.
On the volume basis the only day where DEC exchanged to swap.hive happened on 4/18 at over 11 mil DEC. On the other hand there were more DEC dump prior week in the tune of two days being over 10 mil DEC and where one of those two days was a monthly peak.
In similar stats the SPS volume is not showing much in signs that there was a dump in larger than expected amount of tokens. Although during the news of the hack there were a couple of days where SPS traded were higher than usual but only in the tune of 200k a day.
The end result is volume is not showing the dump that would have caused the price drop.
The price of DEC has steadily decline just in the past week. This is also around the time of when the DEC/SPS hack occurred. There are some signs of the price holding steady and trying to make a bottom on the daily but in remains to be seen as prices is currently in a downtrend.
The price of SPS is similar to that of DEC. In the past week since the news came out SPS price has been steadily declining. The thought then has to be that the token dump indeed is effecting prices.
Both DEC and SPS have been trading significantly over on Binance chain through Pancake Swap. This is corresponding to the news of where old hot wallets with DEC and SPS were stolen and dumped on the open market.
Although it appears prices continue in a downtrend I have been accumulating both SPS and DEC. Why? I simply support the game and have been investing in it for years. I have seen and been through more painful chaos and crisis with Splinterlands than any other crypto project I have been involved and yet Splinterlands have recovered.
I consider this as a slight mistake that is a potentially buying opportunity for long term holders. I am not the bit worried as the developers have disclosed through town hall meeting what happened and what resolutions they are developing to avoid potential similar hacks in the future. Its a true sign of a great crypto project that is in moving in the right direction. There is no clear sailing in life so I would feel the same as any other real life investment. I will proceed to continue adding more SPS and DEC when I can as prices remain lower.
Until next time thanks for reading!!!
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