More than two months passed when I published my last update about my stakes in Holozing. That article serves as a good recap of my progress and the number of Holozing articles that I wrote.
As for other articles published on the Holozing community, I failed to keep myself updated. Hopefully, I could find time to check the relevant articles that talk about the most recent developments about the game.
This article is my tenth, and I want to share my observation about what's going on with the token and my personal involvement in it.
As I already shared, from October 27, 2023, to June 4, 2024, I earned a total of 187.165 HIVE from selling 11,600 ZING and from content creation. If I add the incentive from the December 04 article, the total is 190.361 HIVE, and 113.64 of that is HIVE I earned from selling ZING. I did not include the HIVE I earned from delegating HP to @zingtoken.
What did I do to that 113.64 HIVE I earned?
When the price of ZING dropped to 0.00404 SWAP.HIVE, I started buying back the tokens I sold, and I utilized the earnings I got from October 2023 to June 2024. On the holozing.com website, I occupy 296th place in the list of top contributors for earning 36,938.887 ZING. On the ZING richlist on BeeSwap, I hold the 191st place for staking 59,409.063 ZING. If I add the 11,600 ZING I sold for seven months to the 36,938.887 ZING I earned, that's 48,538.887 ZING. By using the 113.64 HIVE I earned in buying back the token, with 59, 409.063 staked ZING, I earned an extra 10,870.976 ZING. I could say that's the total profit I got from selling ZING for those seven months.
The goal is 100,000 staked ZING. The last time I bought was February 02, and I used 21.16 HIVE left in my earnings to buy 8,500 ZING. From now on, to achieve the 100,000 goal, I have to use additional capital.
How about the current status of the ZING token?
February 1 was the last time I checked the Holozing website. A week ago, the total circulating supply was 144.74 M. Now it's 146.48 M. So 1.74 M was added for seven days. Out of 144.74 M, 118.96 M was staked, 13.22 M in the liquidity pool, and 12.56 M in wallets.
Compared to last week, the current sell price of the token is slightly lower from 0.0026 SWAP.HIVE to 0.002572 now. Even though 1.74 M ZING was added, the market capitalization declined after a week from 147.21k USD to 107.58k at the moment.
As for the annual percentage rate (APR) of the liquidity pool, last week was higher with 54.72%. Today, it's 48.12%. This is understandable because ZING's liquidity increased from 13.82 M last week to 14.29 M today.
My focus right now is to increase my stakes. I am not into art. How I wish my cousin was here. He is an excellent artist. I am also not sure if I can play this game. We will see.
As for the direction of the market price of the token, I am not sure if the base price given on October 26, 2023, is still applicable. The price was 0.001333 SWAP.HIVE. All I know is that this token reached 0.07 SWAP.HIVE on November 12, 2023, and is now just 0.002572 SWAP.HIVE. That's a huge drop! I am not sure if my mathematics is accurate for that is a 96.32% drop. Yes, the supply of the token keeps growing because of inflation. However, I see the current market price of the token as a bargain. Anyone who believes in the long-term prospect of Holozing, instead of selling the token, the most logical decision is to increase your stakes. Follow the footsteps of the top holders!