In This Issue
- My portfolio updates.
- Rebecca shares her thoughts on XRP winning against the SEC, US inflation dropping to 3%, Brazil’s planned CBDC on Ethereum, Vanguard buying up Bitcoin mining stocks & Uniswap V3 launching on Avalanche.
- Altcoin Alpha by David.
- Airdrop of the week by Jesse.
- Jesse has a deep dive on the top 5 Cardano altcoin gems.
- Sam has a report for you about on-chain NFTs.
- In case you missed it by Rebecca.
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Lark’s Portfolio
Buys and Sells
I bought some more Bitcoin at $30,400. Regular stacking stuff here.
I sold off some venture investment coins that I received including TRVL, HIGH, and MV. I took that cash and moved it out of the market.
I also staked my SPOOL tokens.
Got my eye on the Trader Joe EUROC/USDC pool. Might add some money there soon. There are some tasty looking Convex Finance ETH pools too.
Coinbase Stocks
I wanted to buy some more COIN this week, but the massive run up on the hype surrounding the Bitcoin ETF made me decide to wait a little bit. I would be more interested in adding some around $60. I also have a fat stack, so not too worried if I miss out on buying more too.
Maker Dao Loan
I have been considering and may do soon, to take out a loan versus some of my Ethereum for a cash loan on Maker Dao. It is either that or stake my ETH, although I can see a potential problem with trying to get out of staked ETH at the next cycle high. More on that in a moment.
The idea here though is to free up some capital from my idle ETH. No more than half of my coins. This would give me a fat stack of USD to be able to throw into some altcoins.
I can borrow 40% of the value of the ETH with pretty low liquidation risks. The current borrow rate is 3.5% which is pretty reasonable for a loan.
Doing this allows me to keep all of my ETH and enjoy that upside while also allowing me to unlock some further capital to speculate on altcoins. The only problem here is that I need to pay tax on the ETH I put into Maker. Which is about $200 per ETH right now. Likewise when I exit Maker there are also tax implications.
However, before I do this I need to think long and hard about what altcoin or altcoins I will ape that money into.
I had been thinking about Radiant Capital, but protocol rewards have dropped by 50% recently. I worry that if I go for the 1 year lock up period that over that year the rewards will dry up and the token price will crash. While it has got a lot of hype, it is still a new protocol. This scenario could happen. Part of me feels like I am mid curving it and I should just ape in.
That being said, I will give it a bit more thought as to what I do with that money, should I decide to take out a big loan.
Some Scenarios:
- Add to existing positions which I think have 5 to 10X potential.
- Ape into high risk, high reward low caps. Although I am hesitant to take on new positions.
- Find a high reward farm.
- Loop by buying more ETH and putting the ETH back into Maker to get more DAI to buy more ETH which I also put back into Maker.
Ethereum Staking Dilemma
I regret selling my staked ETH last year. At…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
