Greetings all, my first time posting anything financial related, so please excuse my lack of insight as I normally post Splinterlands related stuff. Actually, this post does touch on Splinterlands as well…so meh.
TLDR
Thought I put a summary for the skim readers, and I won’t go into how the markets are all red, crypto is dead, end is nigh…... There are plenty of posts analyzing that, this post is more of trying to figure out which crypto I should invest funds into. And hopefully some more experienced investors can chime in. The three tokens I am looking at:
- BNB
- HIVE
- DEC
BNB
I know there are lots of people who straight up hate, yes that a strong word, but that’s the feeling I get when some people discuss Binance and BNB. Some people dislike it because its all centralized, and how Binance sort of sided with “he shall not be named”. That battle was before my time in crypto, so I can’t really comment on that. Binance for me was almost my first meaningful interaction with crypto, maybe Metamask was the first. But Binance was easy and familiar to use as its very similar to a stock trading platform. Easy to deposit fiat and move crypto around with minimal transaction costs.
That drove most of my initial crypto investment into BNB, which has great utility within the BSC space. You need to use it for transacting anything on the BSC chain, which is what I use the most and you can do heaps with it in Binance. I can stake it for around 5% APY, decent for a top 5 token while waiting for something to pop up in the Launchpool or Launchpad. The Launchpad is what makes it worthwhile for me to hold my BNB in Binance.
HIVE
Hive doesn’t need that much introduction as I believe I am preaching to the believers. It’s just a great eco-system to be in. Zero/minimal transactions fees internally, plenty to do. Gaming, blogging, curating, everyone working to try to make Hive better. I am not well versed with other blockchains, but Hive is definitely a very high bar and there seems to be great potential.
The HIVE token also has great utility internally especially for Resource Credits and curating whereby you can earn more HIVE tokens. The price movement for the HIVE token also seems to fluctuate quite a bit, which can be a good or bad thing, depending on what you are trying to achieve.
The main issue with the HIVE token is that it’s so internally focused, it seems like you can’t use it anywhere else. It’s a little ironic that the most active exchange for the HIVE token is Binance, which is where I normally use to trade fiat to HIVE token before transferring into Hive.
DEC
Dark Energy Crystal (DEC) is something all Splinterlands players know about as it is the in-game currency used and what you earn from winning battles. DEC has been on a wild ride this past year, increasing to 1.5 cent per DEC from its soft peg of 0.1 cent per DEC and then all the way back down again.
Owning DEC now is great as it will still count towards the SPS airdrop for another 40+ days, so that’s almost like a form of a staking reward. You can also use DEC to buy Splinterlands cards and it is easy to trade within Hive. The kicker for me is that as DEC is soft peg to 0.1 cent per DEC, the expectation is that it will get back there eventually when the markets stabilize. At the current price of 0.075 cent per DEC, there is around a 30% upside, which in crypto seems low, but I ain’t chasing the moon here.
Summary
BNB has the biggest market cap of the 3 tokens and also the most utility of the three. At the current price, there is potential to double its value in the next 12-18 months. HIVE feels to me the token that has the best potential to triple or more its value in the mid-term when the market picks up. DEC feels like the short-term winner with lower gains.
O yeh, I am a gut investor, so there is absolutely very little facts that I know to back what I say. It’s just how I feel the market will go. That’s why I would like to ask for some advice or anyone who wants to debunk the rubbish I have written.
Source : All charts from CoinGecko