Watcha doing BTC?

Just a little blip on the way to 100K or are you looking for another trip to 30?

No one knows.

I am not a huge Bitcoin holder, but I have enough to "keep it interesting", but more importantly, I have enough "other stuff" to care, because like it or not , there is a strong correlation between Bitcoin and everything else. In time it will change perhaps, but that is where we are now. What might change it?

Well, even now in the traditional industries, they are grouped and indexed by sector, so they say for example "tech stocks" are down and I think that in not too long, crypto will be seen the same. However, currently, the correlation is so strong because frankly, between the thousands of tokens, there really isn't much difference from one to the next, since very few of them have actual business models, products, services and clientele that bring in revenue. So, the "investing into" is really more buying and hoping that one day all of the promiseware don't end up being, vaporware that gets lost in the Ether.

Of course, this is why someone like me is interested in Hive and Splinterlands, because at least there are working and usable products, rather than just a conceptual framework that crypto enthusiasts cryptobate too on Telegram and in forums.

In recent weeks, I have been pushing up my SPS holdings, as it seems like a "no brainer" in terms of potential value, since it is going to be the weapon token of choice in terms of new releases and the creation of in-game assets through LAND. While no one knows exactly what all of this means yet, I think it is safe to assume that there are going to be SPS requirements and some people are not going to have enough to fully utilize their assets. This means that there will be some volatility around LAND and the assets attached to it, once it is released.

There are 167 days left in the drop and through my holdings, pools and what I can scrounge together to buy, I am hoping to add around another 150K to that, meaning that I should tip out at above 300K. I am not sure how much I will be able to get from the exchanges though, as it is already starting to creep up in value by almost 40% since it hit 10.5 cents some weeks ago.

Currently, more than half of the SPS is staked in-game and very importantly, I suspect that out of the "total liquid" a lot of it is being pooled for additional returns.

If you look at the 12-hour chart on BSC since before November, even though there is something like 150M more tokens in the supply, the daily volume is running on fumes. This is because the price of SPS is well down from those highs, so it doesn't really give a good picture of what is actually going on.

If we look at the total volume in SPS on coinmarketcap however, it has actually been pretty steady, which indicates that even though price has fallen, there is still a lot of trade going on across the various tracked platforms.

Does that look to be rounding upward to you?

Remember though, this is the liquid potential being traded, as over half is staked on the platform to earn currently 32% a year in SPS on it. And this staking is something that is attractive on Splinterlands and HIVE, because the token earned is the token wanted, because it has usecase. For many of the pools out there however, the token earned is only good if sold into something else, but holding HIVE brings additional benefits for example for voting and governance on the blockchain and SPS will feature heavily in LAND, which will be their own pools of a kind that create assets that can also be used.

HIVE is still by far my largest holding, but weirdly in my opinion, Splinterlands has very quickly moved into second on my list, if adding up all of the assets of cards and tokens combined. In some ways, this concerns me, but I have heard from a friend of mine that while investment "diversity" is good, that diversity doesn't need to be spread across 100 tokens, it can be a handful of assets that one believes in, as long as they are in different areas.

For me, they are not, they are both crypto and not only that, Splinterlands is heavily integrated on the Hiveblockchain, but it is also not only on Hive and doesn't need to be on Hive, under worse case scenario options. This means that "Hive failure" (I don't see it failing anytime soon), doesn't mean Splinterlands failure. And, there are enough large holders who support it who don't rely on Hive either, which means that they will contiue their support. This gives it some level of diversification for me, even though I much prefer the scenario of "win together" where both of them complement each other to compound results for everyone.

Anyway, that was a bit of a tangent ramble from the start of the BTC "dip" but I wonder, how many hands are shaken loose each time there is such a fall and what do those hands do when they realize it was just another blip on the way up? I am glad I don't have to trade daily and care that much anymore, but I do like to see more green than red.

Just zoom out a bit.

SPS to a dollar again?