Was It Really That Low?
When BTC hit the 3K mark back in early 2019, I encouraged everyone that came across my path to accumulate as much as they could afford. Few agreed with me, while most laughed. BTC recently reaching as high as 58K just goes to show how accumulation at a sweet spot can pay off in a matter of only 2 years. That is almost a 20X return on the largest and most prominent Crypto.
This type of return on a "blue chip" is unheard of in traditional finance. When I look at AUTO I see a number of similarities that encourage me to quietly stack my AUTO that I am earning from farming on Autofarm. I pointed out this dynamic in my recent post regarding Autofarm.
A portion of rewards are paid out in AUTO across the board and helps offset risk as not all earnings are in specific tokens. The recent price action of AUTO also makes it very attractive and I am secretly hoping the price stays suppressed for a while as I build my stack. It is also important to note that though most of the TVL on Autofarm is BSC, there are other chains available. When you compare the TVL in relation to other platforms, Autofarm is clearly a leader in the space and has the potential to become the "Binance" of DeFi.
Satoshi Relation & Price Action
Looking at the recent highs of AUTO in comparison to current levels, it becomes clear that there is a massive discount on offer. For AUTO to return to the recent high of approximately $14 000, the price has to almost 5X! Interesting to note that the price overshot on Hotbit all the way to $28 000! This is not like in the case of tokens that dump due to them being of no real value or use case. AUTO is a leading force in the world of DeFi on Binance Smart Chain, as well as other chains.
The fact that you can earn significant satoshi amounts on Autofarm is in many ways the equivalent of being able to earn BTC at 3K! I foresee AUTO doing really well in the long-term, especially after the DEX is up and running. Short-term price action should not be taken too seriously in my opinion. When AUTO was trading at $14K, it was only ranked at approximately number 250 on CoinGecko.
Currently, it is ranked at number 405! Considering current usage/TVL and the prospects of future growth, it seems pretty reasonable that there will be a considerable amount of growth. A 50K AUTO price is not out of the realm of possibilities.
Please do not consider this financial advice, as it is merely my own interpretation. If the idea of AUTO interests you, then do some research and make decisions based upon your own research. This article is merely informative entertainment.