The Clarity Act is now the industry's Senate focus, with exchanges like Kraken pushing for swift passage to establish clear federal frameworks. Under new SEC leadership, we're seeing a move away from heavy regulation toward policy guidance that allows crypto innovation and adoption. In other news, Trump Media's deal with Crypto.com to establish a $1 billion digital treasury sent CRO up 25%. Gemini launched an XRP credit card with Ripple, offering 4% back in XRP.
Bitcoin dropped below $110k to early July lows and this volatility stemmed from Fed rate cut speculation. Ethereum outperformed, hitting new highs above $4.8k before pulling back to current levels around $4.34k. Its strength comes institutional and treasury companies' adoption as a trusted asset class.
SPS Weekly Performance Overview
SPS delivered its strongest week in months, climbing from $0.00775 to $0.00881 which is a solid 14% gain that breaks the consolidation pattern we've been trapped in the past period. Market cap expanded from $3.53M to $4.18M, reflecting the 18% increase in valuation.
Market Analysis - Trends
The mini-set proposal that went live has shifted SPS. When you price 350 SPS for a $5 pack, that creates a target price of roughly $0.014 which is nearly double current levels. What makes this particularly interesting is the discount mechanism. At current prices around $0.0088, SPS holders get roughly a ~40% discount compared to paying with DEC or USDC. That discount was sitting at 50-60% just days ago, meaning we're already seeing convergence toward the target pricing.
The proposal sits at 89% approval with 218 million votes in the draft phase. The real question isn't whether it passes, but whether the SPS price reaches that $0.014 target before implementation or after. Where this gets interesting is from a market structure perspective. If SPS approaches that target price, the purchasing incentive disappears and people switch back to DEC. But if it stays discounted, buyers have mathematical incentive to accumulate SPS now and hold for pack purchases later. This creates a natural floor under current prices while establishing a clear upside target.
Market Analysis - Volumes & Liquidity
Average daily volume through the week mirrors the price action. We started at $43k on August 22nd, stayed subdued around $46k-$64k through the middle of the week, then exploded to $97k and $119k on the final two days. That's a nearly 3x volume increase from base to peak. This suggests buyers stepping in rather than leverage-driven moves or coordinated pumping. The $119k peak volume on August 28th represents the highest single-day trading we've seen in SPS for several weeks. More importantly, this volume came on the back of price strength rather than panic selling, which typically generates shallow volume numbers.
Market Analysis - Support & Resistance
The technical picture has genuinely shifted after months of sideways action. The $0.008 level, which acted as resistance for weeks, now becomes the primary support level to watch. This represents the breakout point that needs to hold for the bullish case to remain intact. Immediate resistance sits at the $0.009 level, which coincides with previous highs from earlier in the summer. A clean break above $0.009 would target the $0.01 psychological level, representing roughly another 15% upside from current prices.
The more significant resistance comes at $0.012-$0.014 price level, which aligns with the fundamental target price created by the mini-set proposal. On the downside, the $0.0075 level represents the previous consolidation base and would serve as secondary support. A break below there would likely target the $0.007 area, which has acted as major support throughout the summer months. The key invalidation level for this entire move is back below $0.008. As long as SPS holds above this breakout point, the technical bias remains constructive. Below it, and we're likely back to range-bound trading until the next splinterlands catalyst emerges.
Concluding Thoughts
This week marked the first time in months that SPS showed legitimate technical strength. The combination of splinterlands linked catalyst through the mini-set proposal and technical breakout above $0.008 creates a rare alignment of factors pointing toward higher prices. The risk-reward setup appears favorable from current levels. Downside is limited to the $0.008 support level, roughly 9% below current prices. Upside targets the $0.012-$0.014 range based on proposal, representing 35-60% potential gains. However, the real test comes next. Can SPS continue building on this week's gains or does it become another false breakout?
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