Hi HODLers,
As many of you know, I do think we are not yet at the bottom of this correction. Therefore I am still not back to Up Only mode.
I also feel some subsector of the market are overvalued.
One of this subsector is Move 2 Earn.
As many projects and sectors in Crypto it as similarities to Ponzi Scheme but this one has even more.
You buy shoes, then you go out for a walk (or put it on a dog) to earn more tokens in order to either buy shoes where you can earn more or dump on other newcomers to Step'n Earn.
I am not saying it is a full Ponzi but it has some of its attributes. As the game has been popular for a few months now, it is the time when users are cashing out their benefits and probably paid back their initial investment.
Move2Earn category on CMC
So which one did I go for?
The biggest one: StepN (GMT)
I opened some GMT and GMT/ETH shorts! I have seen that Green Satoshi Tokens has had a lot of traction lately and I might go for that one next. Just need a bit more time to do research.
There is a video from Step'N founder here where he tries to address Ponzi concerns, he did not convince me.
They also plan to ban Chinese users soon which makes me think the game is currently being heavily abused and milked
What are your strategies to try to earn (or not lose) money during this little winter?
Stay safe out there,