Today's Shopping List - HIVE, RUNE, BAL.
The crypto market kinda sucks at the moment, but I have decided now is the time to go shopping. Firstly, however, I'll look at what I sold today to have some spending money.
Sold DEC.
I had accumulated up to the 850,000 DEC I needed to buy a tract of land in the upcoming Splinterlands land sale. However, I have decided today to drop out and not participate. The DEC has been nice to me, with it accumulated mainly from selling some cards, buying bits on Uniswap, participating in the pool for a bit and some bought on LeoDEX. In any rate, it all came at significantly lower prices than where they are now. A successful investment.
But I'm not going to hold a valuable investment and rely on a lottery to be able to use it. The Land grab is becoming a scramble, and they have decided to turn the vast majority of the sale into a lottery for big players and pools, buying regions. Potential tract buyers are basically forced to join a pool, or try scramble for the dregs with just 3 remaining regions not reserved for big investors. I'm out, don't like my chances of getting a tract, so I swapped all my DEC into ETH via Uniswap. I'll just pick up random plots of land as I can over the upcoming pre-sale, but I'm giving up on the goal of a tract.
So that sale left me with a bit over 2 ETH to reinvest.
NOT FINANCIAL ADVICE
Bought HIVE.
Couldn't go past 11c HIVE. I've neglected my HIVE power for quite a while, and while buying more LEO was tempting, I have decided to maintain a bit of portfolio balance and add HIVE instead. At the end of the day, it's still about LEO to a degree, as I've delegated it to @leo.voter to earn LEO from it. Estimated ROI - 19-20%. 16% from LEO Voter, and a bit of inflation.
I bought 2750 ish and powered it up straight away.
I'm not entirely convinced that it will be a great investment, with the weakness in HIVE showing no sign's of reversing yet. But HIVE is home, and it's something I want to continue to support. The other angle I'm looking at for the long term is having more stake may give other benefits down the track. If SMT's or similar happen some time this side of the next BTC halving, and the reward pool is restructured, I think changes will benefit stake holders over content creators, on the base layer anyway. You could expect that if author and curator rewards are shifted to a layer 2, then there will be some kind of stake weighted airdrop happen. Just speculation really, but it makes sense in my head.
A gamble buying HIVE instead of more LEO, but I've got a decent bag of LEO and will use the HIVE to earn more. A long term play for me.
NOT FINANCIAL ADVICE
Bought RUNE.
Outside of LEO, my favorite thing in crypto. I have no where near as much RUNE as I would like, but I'm trying to build multiple income streams, so I'm building it up gradually. Bought 800, swapped half to BTCB (binance chain wrapped BTC) and added it to the LP. I'm basically marking time with my RUNE LP's till the native BTC pool becomes available. My portfolio is very underweight with BTC, and this is how I'l fix that. Once it opens up, I'll swap out of the BTCB and ETH bep2 pools, add a tiny amount of btc I have currently, and put everything I can into the RUNE/BTC pool for the long term.
Over the next few weeks, I'm expecting continued weakness from RUNE. It is quite possible that the price will remain suppressed or even go lower as staking in Runevault ends this weekend. The easy faucet which Runevault has been comes to an end, and holders may simply move on instead of shifting to the Liquidity Pools. Also, many RUNE bagholders are waiting for the BTC pool, and some may have to swap from RUNE to BTC to have the matching assets, suppressing the price.
Once these effects wash through (plus the general DeFi bear market) I see blue sky's and sunshine ahead, and consider a 10X or more quite likely from the current price levels.
NOT FINANCIAL ADVICE - This is something I'd nearly be happy to make financial advice, but DYOR.
Bought BAL.
Regular followers would know I'm into Balancer as a platform, and prefer it to Uniswap. My BAL/ETH pool is an income play, earning sweet sweet 100% annualized ROI, payed in BAL tokens each week. I added to that position at $10 as a small "averaging down" play. I'm pretty happy with how much is in there, and probably won't add more capital. The weekly income will be compounded straight back in to the pool each week.
The one thing I am doing, (and I'll tag my mate @inalittlewhile here as he is in the same pool) is watching to see if we should swap to a different BAL/ETH pool. This one had a big chunk of liquidity removed by a whale in the last day or two, and there is another pool with better liquidity and fee income. I'll keep a close eye, and see what next weeks payout looks like, before making a decision.
If BAL holds the psychological $10 level (it's not really a charting support level - but my charting skills are crap). If it holds and recovers here, I'm happy, if it drops, $6-$7 is possible. If it does that, a play I'll look at is removing liquidity, swapping the ETH to BAL. Holding liquid for a few days if it bounces hard, and then I should have a nice $$ gain. That's something I'll watch, and try to do on the fly if the conditions look right. But my timing on trading is usually really bad, so I may chicken out and stay in the pool, and play safe. We'll see.
BAL is ultimately an income play for me, and not my first love as an investment. That would be LEO and RUNE.
NOT FINANCIAL ADVICE
So there you go, todays portfolio reallocation that I have made, and why. Let me know what you think in the comments. Am I nuts (the HIVE play seems very contrary to popular opinion currently) or am I a genius. Time will tell I guess.
Just a little footnote, I am in no way saying that the Splinterland's Land sale is a bad investment. I think it will be a fabulous success. I'm just not a fan of holding assets with a decent chance I won't get what I want. I'll still accumulate a land holding over time, it just won't be a big chunk at once. The other reason I have opted out is that the sale actually starts at a really bad time for me - like 3am or something in my time zone. The chances of it not selling out in minutes (at least the first batch) are slim and virtually zero in my opinion several hours later. Just an added logistical reason why I dropped out.
I'll probably kick myself for some of these decision, but we will see.
Thanks for reading,
JK.
Posted Using LeoFinance Beta
