Its the 1st Feb 2024 and today is Hive Power Up Day. Today is the day when people power up the hive and grow their HP holding. Hive power is something that is never enough and the more we have the more we feel like having even more. Everyone wants to have as much as HP possible and I am not an exception. I have certain goals on the chain for HP, SPS and leo tokens etc but out of all HP is above all. Keeping a good amount of HP can be a good source of passive income that we can generate through the curation or if we delegate then we can also earn delegation reward and in this case, we need not spend any time.
I have powered up
I had 54202 HP before the power-up and today I did the biggest power-up of this year with 3666 HIVE. I have been trading Hive on Binance exchange and had some liquid coins there for trading but now Binance is kind of blocked in India hence keeping funds there is not a good idea. I moved all my hive to my wallet because here its safe. Now keeping these coins in liquid form is also not a good idea hence I powered up today and this has increased my HP.
I did power up for 3666 Hive and the transaction history is here-
Here is the updated balance of my Hive power which is 57868 as of now and it made me Orca technically. However, the badge is not updated in hivebuzz as it might be taking some time. I a not sure how much time it takes to get updated but I think this should be done soon.
Orca Now
Now I have got the comment from @hivebuzz that I am an Orca now. Its been over 5 years on this chain and now this achivement is very big for me. Hive has been changing lives and it has certainly changed mine in many ways.
HP Goal
I had a goal to have 50k HP in 2023 and I was able to achieve it before the end of the year. This year I have no specific goal with HP however I will continue to grow it as much as I can. Exchange trading is helpful because this way I was able to earn more hive when the price pumps. Now I hope the issue with Binance gets sorted soon so that I can start that again and grow my HP further. Every time the hive price goes above 15% then I sell off and place a buy order at 10% less price on the market. This is how I have been doing in 2023 and this strategy worked well for me.
Why Trading is helpful
If you are expecting a big amount of HP then you will have to buy more coins from the market and I believe trading is the best way that one can grow the holding. But undoubtedly it also requires more focus and keeping track of the market price then only you will be able to grow the investor. Patience is also important because sometimes things don't go the way I want and in that case I hold. Usually even price perms more than 15 to 20 percent in a day then it comes down about 10% on the same day or in the next couple of days.
I can't say how things will be in the bull market but currently, we are not in that situation so I can say that any pump will surely bring the price down by at least 10%. We need not be greedy because if you do then maybe you end up losing some funds or you will have to wait for longer. Ten to 15% is something that can be achieved easily with every price pump but there should be no emotion trade at all. In my opinion, trading is very helpful as per my experience and I will continue to do it again once the issue with this exchange gets resolved and ultimately all this will be coming to get power up and increase my HP holding.
I am much closer to the 60K HP mark and I hope that in the next few months, this should also be done but the journey of accumulation will continue and there is no change on this part. Of course, if the market gives another opportunity to buy more hive then I'll be exploring that as well because more HP means more power and everyone wants to have this power including me. I have also delegated over 40K hp to different projects which is helping me earn rewards in different tokens including Zing and Leo etc. I also keep some HP with me so that I can do the curation and at least my vote gives some value to the authors and their content.
Snapshots frmom
Thank you