Splinterlands - My #SPS 414K+ Staked - My Strategy Ahead - Target is 500K+ SPS to be Staked...

Hey All,

It's been a while that I talked about my #SPS stake and the overall progress been made thus far. Todays post is all about SPS and how I have been slowly accumulating the goverance token #SPS of the game Splinterlands. The sad part is that it being traded at it is all time low price i.e. around $0.006+ is this the low or are we gonna see the price decline further - I hope not. Ideally, we should definitely start seeing some progress that brings stability and confidence back to the project. Before we get any further, let us have a look at the #SPS numbers...

SPS Token - Current Metrics Summary...

#SPS circulating supply sits around 1.54+ billion, out of which 1.06+ Billion that is roughly 69% is staked, showing strong long term holder confidence. Only 482+ million tokens roughly 31% remain liquid in the market. With a market price of $0.0066, the market cap is around $18.32 million. Overall, I would say that the high staking ratio suggests reduced sell pressure, but the low price indicates that there is still uncertainity.

My #SPS 414K+ Staked - My Strategy Ahead

As seen from the above image it is clear that I have a staked 414K+ SPS tokens and the current APR[Annual Percentage Rate] is above 10% which I would say is decent not that bad at all. Only that is hitting all the inveestor is the sprice of the #SPS token. I have been building my stake from day 1 and most of the time I have redirected all my earnings back to the staking pool. There has been times when I have bought #SPS in bulk and that too went to the staking pool. During the time when SPS had hits its high to be honest I did sell some of the tokens and booked profit..those were the days that I miss now and wished I had sold more tokens and invested it in another projects. But any ways there is no point regreting now and we need to focus at the current situation and deal with it. My strategy ahead for #SPS is simple as stated I am targeting 500K+ SPS here to be staked and I have not put in a timeline here as I am planing the rest SPS that is 86K+ to be accumulated via the staking rewards. I may redirect some #HIVE here once the price of HIVE trades above $0.30 cents but looking at the overall crypto market it looks like we are in the bear market and it may take some time before the Alt. season arrives and we all could take some advantage. One more point before I end this post, I have been delegating my #SPS as well and there the APR is above 3.5% and there I get #DEC which is another in-game currency of the game. Right now the #DEC that I am earning I swap it for HIVE and power all the HIVE up. I know that #DEC is currently trading below its peg, and I may be incurring losses because of that. However, my plan is to continue leveraging the passive income it generates for HIVE, at least until I reach the 250K+ HP milestone. And one last thing there is no selling of #SPS whatsoever and its a #hodl for me and continue to accumulate as much as I can. Well this should be it for todays post on - "Splinterlands - My #SPS 414K+ Staked - My Strategy Ahead - Target is 500K+ SPS to be Staked..." Happy Gaming & Investing... Cheers

Image Source: coingecko, splinterlands

Best Regards
Paras