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5 days into my Akash investment.

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@jk6276
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Keen followers would have seen me post about starting into a new investment in AKT. I started small, and figured out the basics of how it all works, and grow my stake via delegating to the validators to earn an APR of around 55% currently. So how is it going?

Source: Coingecko

So my first buy, 5 days ago, was at $0.73. Price today is $1.24. 5 Day gain $0.51. 5 day return, + 70%

But, JK, Why the pump?

Well obviously it started pumping shortly after my post, so it must be how influential my picks have become. The JK effect, I hear you say?

No, seriously around the same time, a big crypto influencer on YouTube - Elliotrades featured Akash as one of his top picks for 2021. The price action came after his video dropped, and was not a result of my post, as much as I'd like to believe otherwise. I think his 178,000 channel subscribers have a lot more to do with the pump than my couple hundred LEO and Twitter followers. ;-)

Here is the video for more information, Akash is featured at the 23 minute mark:

Buy more, hodl or sell?

After digging in to this project, I am planning to build up my stake by Dollar Cost Averaging in (DCA). Since my initial post, each day I have freed up $20 - 30 to buy some more, and add to the stake. I won't post the spreadsheet I am using to keep track of it all, but so far I have bought 271 AKT tokens, at an average price of $0.8759. When adding in the daily staking income, and taking out fees, My investment has been $281.62 and the current value of the stake is $401. Not bad for a bit under a week.

I plan to keep DCAing in with around $25 per day. On top of that, I am compounding daily to combine two powerful investing forces into one stake, DCA and Compounding. I am hoping to be able to get my hands on more tokens before it really moves. I think even though the current price is ATH, this token is just getting started and will be much higher in the future.

Also, just want to note here that I have switched exchanges. Bithumb, that I used for my first couple of trades charges a 1 AKT withdrawal fee. BitMax charges 0.1. So, with my small daily buys, this makes a lot more sense. AKT is still tricky to get your hands on, for now.

Do Your Own Research, not financial advice.

So what comes next for Akash?

The Akash team have been heavily involved in the Stargate upgrade that has occurred to Cosmos chains. This Interblockchain Communication Protocol enables the linking of Cosmos chains, and dramatically boosts the utility and performance, as well as the connections between Cosmos projects. A bridge to Ethereum is being built for these chains, so AKT will be able to bridge over and have LP's on ETH. Also, they have indicated that an LP protocol is coming to the Cosmos eco-system. Finally, Thorchain is also a Cosmos chain, and implementing the IBC protocol into their upcoming multi-chain launch. There are linkages between the two projects, and it is likely that in the near future, some Thorchain node operators will run on Akash. Many DeFi projects will be looking to Mid February, when Akash launch it's Mainnet 2. This is where the cloud computing goes live, and the actual use case for Akash moves from testnet to mainnet. That is when the magic starts.

Down the road, AKT holders will earn income from the fee payments made by customers of the cloud computing solution, on top of existing block rewards from delegating to validators. AKT has the potential to become an income token second to none. Block rewards will decrease over time, with halvings scheduled similar to BTC. But for now, 55% APR (which if you compound increases to over 70% APY), and the token in price discovery mode, its pretty exciting times for the AKT community.

Don't sleep on this one. DYOR.

Thanks for reading, I'll keep you updated with all things Akash.

Cheers,

JK.

Posted Using LeoFinance Beta