The infamous day where crypto flash crash happened where estimates of up to $19 billion in crypto investments were liquidated. Stories are now popping up that certain altcoins had price drop so significant that it is consider suspecious in it self.
https://coin360.com/news/crypto-market-liquidation-2025-trump-tariffs
"Major altcoins like XRP, DOGE, SUI, and ATOM suffered flash crashes, and some smaller altcoins plunged over 99% before partial recovery." Then I ponder did this event effect Splinterlands crypto?
Searching on coinmarketcap.com it appears Gate.io had SPS to USDT trading and there was a slight drop during Oct. 10th. Now the drop was not severe compare to other altcoins and the volume although high were not as high as prior days. All in all I would say SPS price did not drop significantly like other altcoins, but it may have a lot to do with the fact SPS is not very liquid on third party trading sites.
This leads to a dilemma that I do not think many have talked about. If in the future the adoption of Splinterlands assets becomes mainstream, let say that trading volume is in the millions, it could potentially be effected by the volatile events like Oct 10.
Here is proof with an example of what I mean. Hive on the 10th actually dropped all the way down to $0.06 which at the time was an all time low. How much in volume actually traded at that low price is not clear but that day just on Gate.io there was over 200k Hive exchanging hands and the price of Hive drop over 23% from peak to trough.
I can't imagine how some stop losses that trigger would have been good as price of Hive simply went all the way down to new all time lows. This goes back to earlier where some altcoins went down up to 99%. Stories of Binance concealing historic prices to hide their low purchases of altcoins are in my opinion not a surprise. Without regulation it is a free for all out there.
Speaking of Binance here is how Hive prices were effect on that platform on Oct 10 the low was closer to $0.03 per Hive.
Approximately 500k Hive was traded on that day and I do not know how many of those were bought at the lows but convenient enough to see that someone/s bought it at those prices.
Looking at the potential if SPS was traded on Binance it would not be a shock if these events occurred and we see SPS prices falling to new all time lows. Not trying to be negative here but to put out some caution that things may get volatile right now. Expect the worst but hope for the best. I am going to continue stacking SPS and Hive. I believe in them and their odds of going to all time highs is a possibility.
Posted Using INLEO