Crypto Analysis | Splinterlands SPS Ranked Rewards and TA

Good day Hiveians!

Join me in analyzing the crypto markets!

 

Yesterday we got a big update on Splinterlands!

One of the biggest changes is that we now have SPS instead of DEC rewards for ranked battles as well as for seasonal and focus rewards! This is pretty big as DEC's supply will be drastically lowered. The flip side of course is that SPS' inflation will again increase after the airdrop, although this was always planned and there are ways/mechanisms to counter it. For example, SPS is still being burned/transferred to the DAO with the Riftwatchers sale soon as well as the ongoing Validator Licences sale. Also, there is now a burn mechanism introduced. Meaning that you can now burn SPS for a fixed amount of DEC (at its intended peg). This will especially make sense when DEC is trading at or above its intended value at $0.001. As we can see DEC has already made a drastic jump on the last days as a result:

The Dashboard now has some new feautures:

You can see the ranked rewards from the modern and wild format as well as for the chests. And then you can now burn SPS for DEC ("convert SPS"):

On the top right you can also see the Pools as well as the Proposal buttons. While the proposals aren't live yet, you can see the pools already. In fact they were already live with rewards for some weeks. There are many different pools on different blockchains with different APRs. So just check them out to see if you want to add some tokens!

For the SPS ranked battle rewards my experience so far for Gold III is that I got about 0.5 to 1 SPS per battle I won. This is significantly higher than what I would have expected. But this value will definitely change according to how many compete for the fixed SPS daily amount in the pool. I guess for Modern format this will be probably higher in general.

TA

3 weeks ago I posted the last TA, and this was the outlook:

We currently seem to be on the yellow trajectory as we had a sustained breakout out of the wedge and a correction afterwards. Now that we have broken out of the wedge and retested it I think/hope that price can finally continue upwards. We can draw a parallel channel now and with the price increase over the last couple of days we get a kind of parallelogram. This would be the first time that we get a significant update to the chart moving away from the "dreaded" wedge. If the lower support can hold we are now on our way to 10 cents where there is a significant resistance from the previous price movements (thick horizontal line).

We will probably see a correction there as well retesting the 6-7 cents area. From then on we could either continue moving upwards (yellow line) or actually break down lower again retesting the 4 cents area (white line). But I think this were only to happen if BTC takes a big hit.

In sum, I don't think the price of SPS is going to move out of the 5-13 cents area anytime soon. We will probably trade in this range for the next 4-6 months, making a very slow ascend due to the still high albeit much reduced inflation for SPS.

 

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As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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