The start of November has been great for the Crypto market and I'm sure most of you are well aware of how things are happening in the market. The Bitcoin price has grown a significant price movement and it has crossed the price mark of 81,000 U.S dollars. This is the price which is its all-time high price and now people are anticipating that it is on its way to mark 100K U.S dollars. I'm expecting that in between we will see some obvious corrections because the price cannot keep on higher consistently and a correction is inevitable. While the market is improving and most of the leading coins are going upward hence the similar momentum can also be seen on the SPS price.
SPS is the governance coin far Splinterlands game and the token utility has been great in the ecosystem. I have been trying to accumulate more SPS for a long time and now I hold over 200K sps in my game account. Although I'm happy that I have managed to gain this balance but that's not the end for me instead I'm still in the accumulation zone and I am trying to have even more SPS to accumulate in the game account. These days I'm not buying but still, I'm reinvesting whatever tokens I'm earning through different ways in the game and as of now I have no plan to book profit on this coin.
Here is the price chart for SPS where you can see a positive price movement and looks like it is going to mark one cent very soon. We cannot expect the price to go $1 looking at the current market scenario and selling pressure on SPS but I believe that this will not take too much time and hopefully, I expect the price to show 5X or 10X appreciation in the next few months if the situation continues to be like this. In my opinion, the current price can also be a good price to buy provided you have a long-term approach and goal with this coin. The coin utility is significant in the game because even as of now you can earn an APR of over 10% for a staking reward but that reward will not be here for a lifetime.
I'm not sure when the reward is going to end but for that one can surely check out the documentation and the white paper however at present we have the option to earn. All my tokens that I have in the game are stagged and earning the APR which is good because it is helping me grow my holding fasters and contributing to better in-game rewards that I earn every season. My strategy with SPS is simple I'm not going to sell this coin soon instead I will continue to accumulate whatever I earn through the staking and other ways in the game. But I am excited to see it growing even more and I hope this will bring more people to invest in the token as well as in the game when we see the value of appreciation happening with the governance coin of the splinterlands game.
I have some tokens liquid hence I am going to power up all and add this to the balance because I don't like keeping these tokens in the liquid form. I have powered up and below is the balance that I have got which is 202K which is earning an APR of 10.3% and I think it's a great percentage in the current market situation.
I do not have any specific goal with SPS as of now but still, I am trying to grow my holding and will see if there is another buying opportunity in the market and then try to grab another bunch. If that is not possible then also I am going to follow the reinvesting strategy with sps. I am expecting that in the current market cycle which is going well, we can see a significant price improvement in this coin price.
Snapshots from splinterlands.com
Thank you