When Bitcoin rises, the crypto market usually follows suit and starts to rise as well. This movement is like the waves that form when something falls into still water. This will be an interesting analogy to understand how liquidity is transported from Bitcoin to an NFT game.
When something falls into still water, waves begin to form from that point. Bitcoin would be that initial target, through which liquidity enters and therefore ends up being the first to rise in price. As soon as liquidity starts to flow in, users from within and outside the ecosystem begin to move.
The first place to suffer the impact is precisely in decentralized exchanges, the DeFis. This is because altcoins also start to rise in price, and with that, users start to exchange the cryptos they were holding, while at the same time there are people wanting to buy to take advantage of the rise, and thus begins a buying and selling in DeFis.
After this first phase in DeFis and the main altcoins, users look for projects that are within crypto, among them crypto games. With this recent surge after a long period with BTC around $60k, we can see that liquidity has started to flow into the Splinterlands card market, with prices increasing considerably!
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Splinterlands Card Market is Increasing the Volume!
As mentioned above, after Bitcoin rises, other altcoins also rise. In the case of the card market, I believe a driving force was precisely the price of the tokens. Both SPS and DEC are rising steadily after having reached lows around $0.002.
With the rise in token prices, users are starting to become interested in the game again and are therefore looking for cards. Those who were away for a long time are starting to come back and rent more cards, buy new cards. Now is the time when, for those who took advantage of the low prices, the outlook becomes positive; you may have built decks, bought DECs to put on lands, etc.
The biggest benefit of buying anything at a low price is that you can hold onto it for a much longer period. In the case of cards, you can use them for a long time until they reach that price again, and you start to lose money on your card holdings. Therefore, always look for the lowest prices!
In the case of the card market and volume chart, we can clearly see that in recent weeks the volume has reached its peak, causing the cards to start rising in price, making it more difficult to obtain them at the low prices they were before. Of course, there is still MUCH room for further growth; there is a lack of players in Splinterlands currently, which would allow the price to rise much more.
This increase in volume causes bids to start rising, and as a result, you can see that even though the peak has passed, it takes time for the values to decrease again, because it's as if the entire floor of the cards has changed and they are now seeking a new equilibrium.
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