I’ve been holding onto every DEC I earn from my Splinterlands battles for a while now, besides the fact that I’m holding because of the potential appreciation in price, more DEC means more SPS airdrops for me. Let’s assume a few thousand other players have this same mindset to accumulate DEC just for the main purpose of receiving more SPS airdrop points. It means that some amount of DEC will be automatically locked into the system for nothing less than a year.
This may very well be us creating a floor for the price of DEC as many will notice that the price has been stable at 1000DeC = $0.006-$0.007 much of late, what this means is that playing becomes more lucrative which in turn attracts more players to the game who will also hold the DEC they earn to have themselves a piece of the SPS pie which will again raise the price floor for DEC. If this trend continues, who will sell their DEC? Not me🤷
With concerns related to buying pressure for DEC, DICE packs and skins will still serve perfectly well as sinks for DEC due to the fact that they are restricted to being purchased with only DEC. DICE packs have been recently sold out in the internal market at 3000DEC each, it exists for sale only on Hive engine and the price has shot up to around $27 per pack. It won’t be a surprise if there will be even more products that can be purchased using only DEC.
People are saying the price of DEC won’t hold and will dump back to the peg, while I admit there is indeed a peg, I don’t see how DEC’s price will get back there or anywhere around it at this point. It’s a loose peg anyway....Maybe I’m blinded by my own desire to see the price of DEC continue to go up...... I also fail to see how the high price of DEC is detrimental to the growth of Splinterlands, if anything, high price of DEC is pretty good for business and should in fact be incentivized to remain so.
There are also other factors that contribute to the price growth of DEC like the sentiment in crypto generally, an exponential increase in price of assets in crypto following Bitcoin will also potentially trigger alts that will trigger other alts likewise an exponential crash will have the same crash effect across board but given the season we are in, a bull run is more likely than not.
My final point is more exchange listings. Listing DEC on an exchange like Binance will have a crazy effect on the price, whether or not we will see this happen in an averagely short time remains to be known, but it’ll def be nice. What do you think?