Despite the news about the Rift Watchers collection coming around, the price of SPS tokens has experienced a 5% drop in value. Keep in mind that the Rift Watcher collection is stipulated to be purchased using SPS tokens that in turn, will all end up in the Splinterlands DAO.
This drop in the value of SPS token is somewhat confusing, especially because I reckon that the demand for Rift Watchers packs will be through the roof and the sale of the limited edition of packs will be very swift.
I figured that by now, there would have been some positive SPS price action, yet, here we are, still shedding value and heading towards 60 cents. It is a fascinating situation for a Splinterlands bull like myself who knows the immense potential that SPS holds and also struggles to scour funds to scoop up tokens.
On one hand, my Dollar cost averaging SPS strategy is going on in the background, as I am consistently buying small amounts of the token and piling it up for the future. At the same time, I have one eye on the Rift Watchers collection and while spending my SPS is a thought I absolutely hate, I'll sleep easy if it enables me to get my hands on a very limited set of monsters.
The thing is that I'm caught somewhere in the middle of the two decisions and I'm trying to get the best of both worlds. I really hate the idea of using up my very limited amount of SPS token to pay for packs but I really don't want to miss out on these packs and this is why I really need an aggressive SPS pump.
The other issue for me is that in the event of a consistent dump in the price of SPS token, my dollar cost averaging SPS strategy will scoop up even more tokens from the market. This, once again, takes me back to the previous point about not wanting to sell or swap my SPS tokens at low prices.
Let's say we assume the price of SPS token when Rift Watchers finally launches is as low as 5 cents. This will mean spending about 100 SPS token for each Rift Watcher pack and for me, that's a very horrible scenario because buying up to 100 Rift Watchers packs will end up eating up a decent chunk of the SPS tokens in my possession.
I'd obviously prefer if SPS tokens could pump aggressively and offer me a route where I spend a lot less SPS tokens on Rift Watchers. If it were left to me, I'd pump SPS to $1 just for the Rift Watchers day but that's just wishful thinking.
Realistically speaking, assuming a pump comes through, our best bet is somewhere around 10 cents per SPS and while 50 SPS per pack is still far from what I want, it'll still be a much better rate than when the price of SPS is 5 cents.
The issue is, even at 10 cents, buying 100 packs will still push me back by 5,000 SPS tokens and that is still quite a lot. However, if push comes to shove, I will risk it.
Spending my SPS on Rift Watchers is in the works but my chance of doing it is all dependent on the market value of SPS token. Any price of SPS upwards of 8 cents is enough to make me consider using my SPS to pay for packs. If not, then I'll just buy a couple of packs with HBD I generate from publishing posts.
