160K SPS Stake Achieved! Moving towards 200K..

SPS is one of the tokens in splinterland that I have been trying to accumulate since the beginning. My accumulation started when the price was very high and it is on even now when the price is very low. To be honest I never expected that the price for SPS could go to this very low level and I was expecting that it would drop in the bear market but not a few cents. I think one of the biggest reasons behind this drop is that people got quite a big amount of SPS tokens as part of the airdrop and this is what started the dumping of tokens in the market. Prices are determined by the market based on supply and demand and when there is more supply and less demand then prices are going to be lower.

SPS Price

Currently, the SPS price is quite low and this is why I'm able to buy more tokens. I know that the token price is going down which I consider as an opportunity because my plan is not to sell very soon instead use this balance to avail the higher reward multiplier in the game. Even today you can see the downtrend on this token price and I can't even say that it is going to make it $0.01 per token however this has not happened yet. In the crypto market we can't predict how things are going to happen exactly but based on the market momentum we can anticipate the next market move. The current price is surely a good buying price I believe and this is why I am buying quite frequently and powering it up to increase my overall sps token holding.

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160k SPS Stake

I wanted to make it 160 KSPS as per the previous multiplier but now the reward system has changed completely hence even with this balance I am not able to avail the highest reward multiplier. Now I can say that I still have a gap that I need to fill to be eligible for the highest reward multiplier. This is what I have in my account which is more than 160K SPS tokens balance and I will continue to accumulate more. The current APR is over 14% and this is good because with this I'll be able to get quite a good number of tokens and I see that this APR is kind of stable in this range. I have not started unstaking and even have no plan to do this because my plan is just to build a good sps holding for the long term and I am on it to make it happen.

Boost

Currently, I'm able to get the boost of nine point nine seven out of which nine point one five is through the staked SPS balance. Spears token plays an important role in the reward mechanism because we have a reward multiplier in the game where sps is the key. The more SPS you have in your account means better rewards you are going to get and for that reason, I am trying to increase my SPS holding as much as possible. The highest reward multiplier is 12X and I am slightly more than nine hence I need to take more to be eligible for the highest reward multiplier in Diamond League.

If I need to play in the Champion League then for sure the requirement will also increase and that will take time however for now I will be trying to grow it further so that at least in the Diamond League I can avail the highest reward multiplier.

Now since I'm aiming to have 200k sps hence I am away by 40K from the current holding of 160k. With this low price it will be easy for me to accumulate more but price spikes then there might be some delay and I don't know how much time is it going to take because it is completely dependent upon the market sentiment. I still believe that SPS is going to be available token in the long term but I can't say when we will see that day in the meantime, I am trying to reach my 200K sps soal in the game.

Snapshots taken from splinterlands.com

Thank you

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