Hey fellow Splinterlands players!
If you’ve been paying attention to the markets lately, you might have noticed that the broader crypto world is facing a bit of a rough patch right now. In just 24 hours, the crypto market lost another 1.44% of its overall capitalization, bringing it down to $2.13 trillion. The pressure is coming from a couple of key factors: a strengthening dollar, declines in risk assets, the ongoing uncertainties stemming from the Middle East, and some short-term profit-taking ahead of the US jobs report. All of this uncertainty has pushed the Sentiment Index back into “fear” territory, dropping to 37—a two-week low.
Now, if you’re like me and you’ve been playing Splinterlands for a while, you might be wondering how this all ties into our beloved SPS token and the overall state of the game. So, let’s dive into that!
Bitcoin Sets the Tone
As usual, Bitcoin is at the center of the crypto conversation. BTC found support around the $60,000 mark, near its 50-day moving average, and is bouncing between $60,000 and $63,600. But here’s the thing: according to market analysts, the next few days of price action could just be market noise. In other words, it’s more of a waiting game as the market looks for new information to guide its next move.
However, here’s where it gets interesting: despite the short-term fluctuations, data from CryptoQuant points out that the capitalization of stablecoins has been growing steadily over the past two months. In August and September alone, stablecoin capitalization jumped by $8.73 billion, reaching a record $172.75 billion. Even more impressive, the USDT balance on centralized exchanges (CEX) hit a record high of $22.5 billion.
Why Does This Matter for SPS?
I know it can be tough seeing the SPS token’s price falling along with the rest of the market, but let’s take a step back. The crypto market is notoriously cyclical, and historically, Bitcoin tends to lead the way. When Bitcoin goes up, altcoins (including SPS) typically follow. If we look at historical data from Canaccord, after Bitcoin’s halving events, bull rallies tend to kick off 6-12 months later, with all-time highs (ATH) forming another 2-6 months after that. We’re talking about a pattern that has played out multiple times before—and there’s no reason to believe it won’t happen again.
So what does this mean for us? Well, we’re likely in the accumulation phase right now. That means this is an opportunity—if you believe in the long-term vision of Splinterlands and the broader crypto ecosystem. The SPS token is currently tracking the broader market’s downturn, but as with many other coins, a significant rally could be right around the corner once the broader crypto market turns bullish.
Keep Accumulating and Staking
For now, my strategy is to keep accumulating SPS while the price is low and staking as much as I can. Why? Because when the market turns—and it will turn eventually—those of us who have been accumulating during this quiet period will be in the best position to benefit. Remember, Splinterlands continues to grow and evolve as a game, and having a significant stake in SPS will not only give you governance rights but also better rewards and a stronger position within the game ecosystem.
And let’s not forget that this is all happening in the context of a broader push towards decentralization and greater use of blockchain technology in gaming. The Splinterlands team is hard at work, constantly delivering new updates and features that enhance the game experience. By staking SPS, you’re not just betting on a coin—you’re supporting a game and a community that has staying power and a long-term vision.
Eyes on the Prize
If you’ve been in the crypto space for a while, you know that periods of fear and doubt often give way to moments of explosive growth. We saw this after previous crypto winters, and I believe we’ll see it again. The growth in stablecoin capitalisation suggests that there is still a lot of money waiting on the sidelines, ready to jump into the market when the time is right. Combine that with Bitcoin’s historical post-halving rallies, and the pieces are in place for another major bull run—one that could take the entire market, including SPS, to new heights.
Stay the Course
So, what can we do right now? Stay the course. Keep playing, keep staking, and most importantly, keep believing in the long-term potential of Splinterlands. As Bitcoin edges closer to its next ATH, SPS will likely follow the market upward. If you’re like me, you know that accumulating during these times of fear and uncertainty often leads to big rewards down the line.
I’m excited to see where the game—and the market—takes us in the months ahead. Keep fighting those battles, and let’s continue to build something incredible in Splinterlands.
Let’s make sure we’re all ready for when the next bull run hits!
None of this is financial advice, I am just sharing my thoughts on what I see as an opportunity in the crypto market.
If you wonder what is the best way to get involved you can use my link to begin your Splinterlands and HIVE journey.
