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DEC is on the way to Moon | Are you buying or selling?
Splinterlands is one of the most interesting Blockchain games on Hive and it has a very huge market cap compared to other games on Hive and even on other blockchains if I'm not wrong. DEC is the utility token of splinterlands and is listed on Hive Engine.
Today DEC had a huge pump going towards the moon. I don't know what made this pump but someone is going crazy about purchasing DEC big time. Those who have been holding their DEC tight for a long time will have fun looking at the price chart today. Suddenly DEC had a huge pump and it hasn't stopped it. It keeps going on and on giving a bright smile to the face of its investors.
For me personally, this is a nail-biting moment or a sad story to share. I was holding my DEC tight till last week but then I sold a huge share of it when the price was around 0.003. I was thinking that Hive would go up further and when it happens the price of DEC would go down because it is always soft pegged to 1000 DEC per 1$. But my calculation was wrong and it went very badly. The price of DEC never stopped pumping. Selling all my holdings was not my intention, to be honest, but I was just looking for a short trade.
I did not stop myself after selling it for 0.003. Again a few days back I sold my remaining DEC for the price of 0.005. Now look at the price, it is almost 3 times the price of what I sold the second time. If we compare the first time the price is almost 5 times the price of what I sold the first time. I remember doing a similar thing last year as well. I sold my DEC at the wrong time and after I sold it, it pumped hard. I guess now again the same thing happened.
Some people who have been holding their DEC are using this as a great opportunity to not sell but to purchase some of the cards from the market. As the price of DEC is almost 3-5 times the price it was trading last week and a few weeks back, buying cards with DEC is very good right now. They have to spend only less DEC to get some bigger and better cards. This is one of the best moments to make use of DEC to purchase cards if you don't want to sell the DEC directly in the market.
I don't know if the price of DEC will be like this for some more time or it will pump further or it will come down. I was wondering if I should be selling the remaining DEC that I have in my account. I know it is very less but I was thinking if I should be selling it and booking some profits.
For the gamers, this is another good opportunity to get more DEC. As the price is very high compared to its soft pegged value, the game will not start giving more DEC to the players if I'm not wrong. This is done by the game to increase the DEC supply and subsidize the price of DEC in the market. When DEC supply goes in demand in the market the price goes up. That is when the game will compensate the supply by giving more DEC to the players when they win the game.
I'm not sure if my above theory is correct or not but I guess that is what is happening and that is one of the reasons why many players are getting bigger DEC value right now for playing the game. Maybe we shouldn't keep our ECR idle at 100 percent if we don't have a quest to complete and make effective use of it at least to grab some extra DEC if we win against someone.