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JT
Greyscale is only getting started I think. Those figures will rise over the coming months imo.
Heads up for a ground floor play. Meld have started a ISPO from now till the 8th of December. They will essentially be the first crypto bank on Cardano providing loans etc. I'm staking my ADA and will get 2.08 Meld for every ADA staked with them. It's more or less a free shot at a new revolutionary play what could blow up and do 100 x. I had wanted to go with sundaeswap but they delayed their ISPO.
Meld only started on 1st of July so it's early doors. Well worth getting in on it. https://medium.com/meld-labs
https://www.globenewswire.com/news-release/2021/07/02/2257158/0/en/Grayscale-Digital-Large-Cap-Fund-Announces-Quarterly-Rebalancing-of-Fund.html
4.26% of portfolio in ADA... That's some major buying in the past month! And that was just one fund
All good here too Cooper. Agreed that there's a lot of amateur retail investors here getting phased out + folks on leveraged getting smashed. I view this as a healthy correction, just a bit more heart wrenching than some earlier ones, largely because of the degree of emotion + leverage invested.
As you say, lots of significant breakthroughs and crypto is clearly here to stay now.
Could be healthy for this to go through a pro-longed consolidation, similar as gold + silver during the past 9 months or so. Although ideally we'll just do that within equal number of weeks rather than months. Ready to launch just in time for smart contracts and all that comes afterwards :)
ADA dropped to that first resistance I was talking about (the 200MA), although it took longer than anticipated so the 200MA had risen since my post. I'd like a month or two for the weekly to catch up to a dollar or so too. These lagging indicators are always there inviting shorters, so consolidation is healthy to build supports
I think it's interesting looking at the performance. See ETH, it's just bounced ~10% from its low, where ADA has bounced a good 30%+. There is still a very large following here just waiting to pick up more
Whilst we remain at the whim of wider crypto market sentiment, I do expect ADA to gain against it's peers throughout the remainder of this year.
Glad I've not invested any money that I may need any time soon. Sorry for those that don't think things through properly
JT
Been away for the last two weeks. Well earned time out.
Yeah, big correction and now looking like we are at a crossroads. My timeline still points to September /October and if we don't start moving up by then I thinks it's safe to say we are in a crypto winter till 2024.
I Think the market will push on from here though. To many instis snapping up all the retail investors weak hands.
Smart contracts for Cardano will be here soon so that will ensure we keep going in the right direction even if the market drops.
Still holding my 50k Ada and I have acquired 27k Algo @ 96c
And so the drop has begun
What does this mean for ADA? There's support at $0.9, otherwise potentially even going as far as the 50week Ma which would be heading down close to $0.6. Can't see it heading down there again personally, but it's not completely out of the question
PWC released a report on institutional activity in crypto. It suggests that high frequency trading activity may help to stablise ETH within the environment... I'm just glad that i don't need this money any time soon and went in here with a multi-year horizon. Feel sorry for people who've joined in here within the past month or two. Very painful
BTC charts looking quite weak to me. See a drop to monthly support (around 23k) coming. ADA has a lot going for it, but see it being pulled down by wider sentiment
Let's hope I'm wrong. Was correct on BTC and ETH last time, but hadn't expected the drop to pull down ADA so hard along with them... lesson learnt
Won't sell anything, but if this does drop to a dollar or less again, will definitely be adding in whatever change I can find. See this all as a temporary set back within otherwise bullish backdrop. Sucks when it happens though
Hi folks. Haven't been on here for a couple of weeks because platform was continuously down for a while there. Seems to be working today which is pleasant surprise
@Mitchell, think the extent of the drop surprised us all. I saw the retracement back to $2s because the 4hrly chart of well overbought and all indicators were pointing to a consolidation. However, the wider crypto market + bitcoin selloff put the sell off on steroids and I think this even hit close to a $1 for a moment. A bit of a joke really. Heard that Charles was pretty ticked off by it all. Went on a bit of a rant about how market disregards all progress and development and follows bitcoin + twittersphere over fundamentals. One day ADA will decouple from the market - but not likely until next updates are complete. So another few months at least I recon. Decided to buy another couple of grands worth this week. Wasn't intentional - just couldn't resist it
@Cooper, trust that things are going well with you
Well, my nice surprise turned into a bit of a shocker, but I’m still really positive about Cardano.
The market is really unpredictable at the moment but I’m confident that by the end of the summer this price will be a distant memory.
Kind regards.
Every time I come here to post the board is down for some kind of maintenance.
OK, well. Not much to report of late other than I still have my 50k ADA. Should have sold the lot the other week but that's hindsight. Not to bothered as I really want my sundae tokens from the staking of the ADA and that starts on June 1st.
I sank another £20k back in and this time I got back in to Algo at 96c
How things go from here all depends if this market is now exhausted or paused fro breath. I do think there is more upside due to the fact that so many institutions are now involved and guys like Ray Dallio now claiming to own bitcoin. Also on the last dip a lot of instis bought cardano and it was the most bought coin in crypto outwith BTC.
Hope you're all still hanging in there...if not I hope you got some good profits.
Jt,
Yeah the fees for selling are terrible. £5k coinbase took for selling. I know £350k is a decent chunk but that was just daylight robbery.
With regards to sundeswap I was thinking if you can mage to get between 5 and 10k of they're tokens which would be about 3 months staking rewards if it does what some other platforms have done you could easily make a killing for almost no investment other than the free staking rewards.
Might be a good idea if we keep our ears to the ground regarding sundaeswap and if it all appears above board start staking on the 25th of May. I want 10k of they tokens and see how it goes.
Hey Cooper, yeh, actually have a side business already and doing that. Great minds think alike. But yeh, thinking for myself stepping back in the not too distant future
Hm, hadn't made that distinction before. That's worth looking into a bit more closely perhaps
Main reason why I don't trade crypto is cause the gas fees are so high. The pull back from $2.5 was fairly predictable, but this is getting stung more than anticipated. I guess it's just being a victim of wider market movement. Very few cryptos haven't lost 20% or more in the past week. Worse coming I think.... but it'll cost a couple of grand just to sell things off which is ridiculous. I'll be very happy once transaction fees settle into something reasonable. Come on Cardano! :D
Hey JT,
yeah, great Idea, you should defo do it. I do it with my existing business. Have the missus (Not married) as a Director (Not shareholder) for obvious reasons. When I do the property LTD co it will be a new co with the same structure and I will be winding my existing business down and going self employed. In reality nothing will change in terms of the business, just the structure.
Sundaeswap isn't an ICO....it's an ISO. You don't pay for coins up front. You stake your ada and instead of getting ada rewards you get sundaeswap tokens at a price of $0.08c So at todays price of ADA you would get roughly 25 SS per ada.
I might take the gamble of doing this as all you can lose is staking rewards but you have the choice to cancel at anytime and lose nothing in reality. If you can get 10k SS between now and smart contracs listing it could maybe do 25x or more. Look what pancakeswap ans sushi have done. Crazy market lol
Hey Cooper, actually got a similar plan for my ADA + other crypto holdings once the time comes to sell. Put the Mrs on as a Director and you can make around 30k per annum (between the two of you + divis) with very minimal NI / taxes. You can also charge good interest to the company on the loan value. However, as that's a little far out for us just yet, I've not looked into the impact that capital structure may have on ability to buy. Ideally there wouldn't be need for mortgage, but if the company was "on paper" indebted to you, might it impact a cash purchase? I genuinely haven't researched into that question yet
Personally, I'm thinking of staying clear of Sundaeswap. The reason is because it's currently just a website but absolutely everybody is talking about it. I see the ICO being bought into very heavily and then dropping like a brick immediately after (like ICP). Agreed on Liqwid Finance. I think it'd be ideal to have a combination of plays:
(i) Central exchange converter - like Uniswap alternative
(ii) Incubator
(iii) Local African plays.... because some of them will be built for real needs and offer sustainable business models
It's potential that (i) + (ii) plays might actually be existing coins that convert over from ETH rather than entirely new projects. But let's see what happens. It will truly be exciting to see what happens over the coming 18 months
https://sundaeswap-finance.medium.com/iso-sundae-with-the-works-c5c335101ef5
Worth a look to see what you think. if this is legit it's got legs and could be a great DEX to be in on the ground floor.
Jt,
Yeah, BTC looking like dropping in to the 30k's now for sure. As you said, it's a temp correction and I still believe $100k BTC this year by September.
The funds I bagged today are going in a pot towards property , I'm in the process of selling 3 properties atm with the aim of getting them out of my name and then buying new properties and putting them into a limited company. Transferring them over is too expensive as they need to be independently valued, then bought at market value, stamp duty etc The idea is, once I've cashed everything in (stocks & Crypto), is to loan the company the proceeds of my returns to purchase the properties. I can then charge a small amount of interest on the total amount of the loan and also take a salary as the director of the company. Just a small salary that when coupled with the repayment on interest the company isn't really making much but enough to pay me back and cover the salary thus tax isn't an issue. Then in say 10 years, sell it all off, repay myself the outstanding loans and see what I'm left with. That's the plan anyway, see how it goes.
As far as trading the rest of this year though. I'm looking to get in on sundaeswap which is launching on the cardano blockchain. I'm not 100% sure how legit they are right now but as they only require you to stake you ada in order to get SS tokens there is no risk other than losing your staking rewards. Not the end of the world as you can pull out if they don't pay you when they are meant to. I will also be looking at trying to get some Liqwid fiance tokens when they launch too. I think they are the same in terms of staking your coins to get the tokens but there may be more risk attached but not sure atm.
I dare say there will be many other opps popping up too as we get closer to smart contracts.
Evening Cooper. A quick look at the charts indicated a clear top just south of 2.5 and a retrace to the 2.1 which was previous low on the 4hr + 20 MA on the 4 hour (i.e. a very good floor). Wider sentiment is for BTC to drop to sub 30k (very likely on the charts) and ETH looks to me like it could head briefly towards 2.7k. Who knows for sure, it's all temporary either way. I'm expecting sideways movement here until smart contract comes closer, and then a break for $3-5
Markets are pretty skittish due to inflation concerns etc in the US causing uncertainty with FED action. Pretty obvious really. But may see some big money in crypto take profits and move into safer territory for a while. Again, who knows... I came in here with 2025 on the agenda, so happy to wait until then whatever happens. At the same time, I've a maximum hold level at which point I'll be quickly selling down the holding
Can imagine it being a difficult decision to have sold off such a large amount of your holding. Still, locking in a good profit which I image was greater than your wildest expectations only a year ago is hardly something to be sniffed at.
We were almost able to live on passive income - until we just decided to upgrade and buy a house double the size. Funny how life changes isn't it. That's taken out a fair dent out of the play money, but can't complain
Will be interested to know where you land the ADA earnings
Getting those profits out at $2.40c not looking like a bad decision today. I feel better for doing so but now cursing not taking the lot to catch the dip and then the mother of all trades lol
Never works out like that tho. All in all you can't complain making profits. Cashing out todays trade made me my first million and some change. Here's hoping that 50k can turn in to a good top up later in the year.
JT
I decided to take your advice. I took 213k ADA off the table and left 50k ada to run.
After fees from which coinbase ripped me off I manged to bank £350k. The took over £5k for selling that amount but I guess it's price you pay for the safety of ensuring you get your money out and into cash safely and securely.
I feel a bit dirty for selling as I really believe we will see $10 but holding that amount through umpteen more peaks and troughs would put you in a early grave lol.
Lets hope my last 50k ada will see that $10
Nobody knows yet. He's looking at various alt coins. Cardano would be an obvious choose but as of now, nothing has been announced.
Is Musk interested in Cardano ?
That last message sent before I was finished lol
Was going to add that when smart contracts are running there will be some great opportunity to get in on the ground floor of some great new Dapps so don't worry about your average being a little higher. You can take some profits and stick them in on the ground floor of the next big thing. Maybe see a 20 to 30 bagger, it's very possible on the launch of the cardano smart contracts.
JT,
Yeah, the targets we set have to be moved a long but like you say, it's wise to take profits too. I've not sold any but will hold off for now because if you want the big gains you need to have big balls lol. I'm fortunate enough to be in a decent position financially so although I'm sitting on a great return I'm willing to push the boundaries here a bit further..
I'm taking the make it or break it attitude and it the markets went in to the bear cycle I'd hold till the next bull run for a bigger gain.
Indeed, pleasant surprise @Mitchell
Cooper. I bought into this hoping for $3s by end of 2025. We'll probs be there within a few weeks, let alone a few months. I do keep revising my own targets north, but gradually.
It's a brilliant holding you've got there. Do think it's sensible of you to top slice a few, even if only to convert to USDT and get 15% stable return via something like YLD. Retire early
I'm now looking to hold until $10s and then just selling off the staking rewards once we get there. That'll tick us along nicely too. I know some folks are holding on for the multi-millions, but I'll just be happy with gaining financial freedom according to our current standard of living. We each have our own targets
Irony: I only got into Crypto cause I was hacked off with the manipulation in gold and silver stocks. Now wish I had got annoyed 6 months earlier. Jeeze, even a fortnight earlier would have given the average at around $0.2 rather than $0.8. Still, much better performance here than anywhere else on common markets, that's for sure
Nice surprise this morning as I haven’t looked at the price recently.
Kind regards all.
Great feeling guys. Hats off to all who are still here and holding.
My staking rewards and now $430 every 5 days $2150 per month.
Where can you gain interest like that outside the crypto world. Banks offer 1% lol