A quiet month staying out of crypto markets but did bank a 50% profit in an unlikely place
Portfolio News
Each week I publish in my investing posts, the movement in Bitcoin price - it has been ugly. What that has driven me to do is to stay away from any trades in crypto even when I see big reversals. My instinct is to leave things alone. I started mining Bitcoin at $319 - it does not matter much if price is $18,000 or $20,000 if I am holding
Yes, a 34% drop since the last CIB hurts especially when the S&P500 drops only 8% in the same time.
The headlines are getting a little crazy as the falling crypto markets start to wreak havoc on the players.
Voyager suspends deposits after troubles with backing of Three Arrows venture
BlockFi exchange hits troubles and looks like FTX could bail them out
Kucoin deny the rumours that they will suspend deposits too - I saw the first rumour tweet. This is why regulation exists in established markets - kills this crap dead.
I do have a small position in Kucoin most of which is in KCS, their own coin = hard to migrate that away without selling it first.
The CubDefi airdrop is complete - this is the last update from there. Feels kind of cool to have $145 in staked value generating $392 in value. The numbers do hide the relative drop in CUB price
I will start harvesting and staking some of the CUB soon.
Bought
PolyCUB - see below
Sold
Terra (LUNACUSDT): I took out my investment in the LUNA meltdown a while ago (May 14). That left me with one million Luna Classic coins through the airdrop. I put in place a pending order for half at previous highs on June 1. That order was hit June 29 - that adds another 87USDT to the profit pool.
I will place a pending order for the other half another 50% from here (0.00019600)
Staking
PolyCUB
Saw a 500% APR opportunity on staking PolyCUB. Sent $100 worth of ETH to grab a slice of that.
Process steps
- Send ETH from BNB Chain to Polygon mainnet using Celer Bridge
- Swap ETH for PolyCUB - check on Paraswap.io - execute on SushiSwap
- Stake PolyCUB on Polycub.com - hit the + button
- Staked at 501.68% APR
Powering Up Leo
Been a bit remiss powering up LEO mainly as I have been watching APR's on Cubdefi and PolyCUB. I get better returns powering up and then delegating (every 1000 LEO that I have powered up is the staging)
Staking on Binance
Took the chance to stake a few coins directly from Binance with double digit APR's for 15 days locked staking - with prices tumbling and a hold mindset, might as well stake for some return.
Cardanao (ADA) 23.47%
Avalalanche (AVAX) 33.47%
Polkadot (DOT) 36.79%
Key Links
Polycub Farms For staking PolyCUB https://polycub.com/farms
Bridging ETH Celer Bridge provides a simple way to move coins from one mainnet to another - https://cbridge.celer.network/
Buying PolyCUB I use Paraswap to check what is the best network to buy coins. https://app.paraswap.io/#/?network=polygon. The trades normally land up on SushiSwap who specialize on Polygon - https://app.sushi.com/swap
Be sure to use the correct contract for PolyCUB
0x7cc15fef543f205bf21018f038f591c6bada941c
Cautions: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas
Images: Trade/Stake image is based on royalty free photo under CCO public domain licence from piqsels.com. CubFinance logos come from CubDefi media kit. All other images are created using my various trading and charting platforms. They are all my own work
Tickers: Crypto tickers come from TradingView
Charts: http://mymark.mx/TradingView - this is a free charting package. I have a Pro subscription to get access to real time forex prices
Trading: Binance offers a wide range of coins to trade, tight spreads and low fees if you use BNB to pay https://mymark.mx/Binance
Kucoin offers a wider range of altcoins than many of the other exchanges. I do like to diversify my holdings in case an exchange gets knocked over. Grab 15% discount on your trades whn you open an account on this link https://mclnks.com/kucoin15
Tracking: Keeping track of your crypto trades is a whole lot easier with CoinTracking.info. Get 10% off all your account upgrades https://mymark.mx/CoinTracking
May 28-July 2, 2022