Slow and steady wins the race. In recent weeks it has appeared that DEC has been rising in price and currently it stands over $0.0007 each. What Splinterlands has done in order to raise DEC prices whether from DEC-B conversion or removal of DEC rewards in liquidity pools it seems to be working.
In the past two weeks the amount of DEC in circulation is decreasing which is a good sign. With supply being reduced we may have a chance to see DEC get to peg.
It is worth nothing that close to half of the total 6 billion DEC is held by one account of Splinterlands. If those DEC remain held without use it means more likely than not we have 3 billion DEC being exchanged and use in the open markets and liquidity pools. That relatively is not a lot considering the going rate is $0.0007 each while market cap of just the cards alone are over $81 million.
If DEC supply had to cover the entire market cap the price of DEC would have to exceed par value of over 7x! Repeat above par by seven times.
Staying Relevant in DEC holdings
Now with knowing DEC supply beginning to be cut off and prices rising I have been slowly saving up both DEC-B and DEC. My goal for the short term is to hit 100k DEC in order to be prepare for the upcoming land expansion and other parts of the game that will likely require DEC use. It is easier now to accumulate DEC while under peg than down the road if and when it hits peg.
DEC Most Traded 2nd Token
Even with price rise DEC remains the most daily traded token out of all Hive secondary tokens. With a volume close to $20k being exchanged daily. I have been exchanging some Hive for DEC to reach my short term goal.
Until next time thanks for reading!!!
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