SPS Market Analysis May 9 – May 15 2025 | Splinterlands #441

It's fair to say that the bull market is back, with many of crypto coins showing major moves up. BTC briefly touched $104.8k, showing strong support despite mixed signals from a U.S.-China tariff deal, which may have eased trade tensions. ETH stole the show the past week (and it's been a long time coming), surging nearly 25% to $2.7k (now settling at ~$2.6k), marking one of its best weeks in the last four years. SOL also climbed, hitting $180 with a 6.5% gain, while XRP soared over 10% to $2.59. On the regulatory front, the Senate's stablecoin bill hit a wall, failing to advance with only 48 votes, as Democrats raised concerns over AML and national security. One of the prominent CEXs in the crypto market, Coinbase, missed Wall Street's earnings expectations with $2.03 billion in revenue and a 17% drop in trading volume. Former Celsius CEO Alex Mashinsky was sentenced to 12 years for fraud, which seems a distant memory but was one of the huge catalysts in crypto's meltdown in 2022. Most importantly, SPS and splinterlands had a busy week with the launch of Conclave Arcana set and SPS showed volatility but stayed steady overall.

SPS Weekly Performance Overview

Source

Starting at $0.01171343 on May 9, it peaked at $0.01223976 on May 10 before dropping to $0.01117138 by May 15, which is a small 4.6% decline over the week. The price action reflects a consolidation phase, with SPS struggling to break out but maintaining a key support level. The chart shows a tight range which suggests the market participants are waiting for SPS's next move.

Market Analysis - Trends

The big news for Splinterlands this week is the release of Conclave Arcana sets into general sale and Modern leagues, following a successful presale that saw 2.4 billion DEC/Credits spent. This new set brings 11 new abilities, new foil types, a bloodline value on cards, and updated pack-opening mechanics. To mark the occasion, the splinterlands team announced a free season of Wild for all players, waiving the usual 2k DEC fee for the Wild Pass. A fantastic gesture of goodwill from the team, especially since Chaos Legion has now shifted to the Wild League, leaving Modern to Conclave Arcana and Rebellion sets. SPS at $0.011 feels like it's readying itself for a breakout, and these updates could provide the necessary spark.

Market Analysis - Volumes & Liquidity

Volumes this week averaged $138k daily, an improvement from last week's $97450 but still below the $200k. The Conclave Arcana release and free Wild season could drive more activity, especially if SPS burns, which will continue to tighten SPS supply. On the downside, if there is no consolidation on this sentiment, the market may remain in this consolidation zone for a while. This happened for the first 2-3 months of 2025 for SPS, where it continued to chop in a tight range of $0.0055 and $0.007.

Market Analysis - Key Support & Resistance Levels

SPS is holding onto support around $0.011, a key support level it's held this past week despite the 4.6% decline. Key resistance remains at $0.012, where it peaked mid-week before pulling back. If BTC maintains its strength above $103k and ETH continues its upward trajectory, SPS could ride the wave and break through the next resistance level. On the downside, a break below $0.0105 would signal weakness, potentially testing $0.010 again.

Concluding Thoughts

The Conclave Arcana release and free Wild season are big wins for splinterlands and the community, which hopefully will draw more players and more engagement. SPS is holding a critical support level at $0.011, and I'm optimistic that it can ride the momentum of other crypto majors and break through resistance.

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