The Burn event is about to end and its positive impact on DEC Price

The splinterlands Burn event is about to end in a couple of days and it was a fantastic event by the team because we can see a great number of tokens are burnt as part of this initiative. It was a great celebration I would say in terms of the five-year completion of the game and so far I have never seen such an initiative where the project is encouraging people to burn assets and get rewarded but I believe it was a good start. Token burning is a nice way to reduce the supply from the market and this way the token economy can be stronger which is much needed sometimes depending upon the market and this can also give a boost to the token demand and its price. There were a lot of token burns in the first couple of days because everyone wanted to grab more points for the same however still some people did later but altogether it was a very good response by the community.

536 Million Tokens Burn

With this burn initiative, a total of 536 million tokens have been burned so far and it is a bigger amount I would say which is going to be out of the circulation supply. This promotional event is about to end in less than three days and now it will be the time when the team will reward people as per the points they have earned it will be interesting to see who has got what reward based on the tokens they have chosen to work on this promotional initiative. As I already said that it was a great start and even in future this can be considered whenever required depending upon the token price and maybe in future it can also be considered for SPS if needed. although we have the option to convert sps for the dec token and a certain part of the token will be burned in this process. I have seen that some crypto projects do some scheduled burning from time to time and this is how they try to reduce the supply of tokens from the market and as a result with less supply, we see better pricing later on.

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Price Impact on DEC

If we look at the below price chart for the Dec token then you'll be able to see that there has been growth in the price and now it is moving towards its peg range. Ideally, 1000 DEC tokens should be worth $1 but it has not been there for long however after this burn we can expect it to be there soon. out of the total burn tokens, 75 million are only DEC only and the rest are DEC-B so the major part has been burned from DEC which is good.

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Now the price of 1000 tokens is approximately 0.87 dollars And there is certainly a good price increase after the burn because earlier the same number of tokens were available for about $0.70. I did buy some DEC token couple of months back when the price was even less than $0.70 so now I see that my decision of buying the token was done at a good moment and I got a better deal. Now I don't think I am going to get it because the prices are on the rise however I will keep track of the prices if I get it again in the range that I purchased before then we will be trying to buy some more. These days the price of the hive is also down so buying through the internal market can make us pay more hive tokens however, it is a good idea to buy when the DEC price goes down.

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DEC is Still a valuable token in the Game

We know that this token is not part of the reward pool anymore but is still the use case is significant in the game and we can use it almost everywhere to buy assets. Even we're going to get the option to buy Riftwatcher packs using this token which I think is certainly needed because people would get the option to buy the packs using SPS as well as DEC. By providing more options to use the Dec token in the game ecosystem will help the community because we can use it for various purposes and certainly, this addition to buyer Rift watchers will be a good one. These days when SPS is struggling in the market with its value so I hope the team will bring something in place that can also drive a similar impact on the token price which will make sps more valuable than we have it now.

Altogether this promotional event has done well and great to see that the community has also participated with full enthusiasm which always happens. I have seen that in previous promotional salivants also the assets got sold out in no time and the same enthusiasm can be seen in this burn event as well so the community is a great asset for the project and I hope this will continue to be the same. I am not looking forward to the day when they are going to announce the rewards once the event is over in the Next three days and I am sure most of us are looking forward to the same.

Thank you

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