In This Issue
- My latest portfolio updates.
- Rebecca breaks down this week’s trending coins.
- I have a report for you on gold options.
- The team from Partisia talks about their new layer 1 + 2 protocol.
- Jesse has a deep dive for you on STEPN.
For any crypto related questions please comment on the website.
For any support related issues please visit the website.
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Buy, Borrow, Swap & Earn Crypto with Celsius
Lark’s Portfolio
Position Adjustments
I added to my Bitcoin position at 35k, 31k, 29k, and 28,300 this week.
I also added some more JOE with buys from 75 to 32 cents.
I moved my Ethereum bid lower and got it filled at $2,200.
The market is teetering on key support at the time of writing (Wednesday evening EST), I really want to see if we can find a footing here before putting in more buy orders.
JOE/AVAX LP tokens moved from Trader Joe to Yield Yak.
Sites like Yield Yak have invested a lot in acquiring JOE tokens to get massive boosts for their LP token pools.
I would have to invest tens of thousands of JOE into the vote lock boost pool to match this. However, by putting my LP token in Yield Yak I get a much higher rate, and I can take my JOE tokens and stake them for USDC.
Better deal in my opinion!
UST Depegging
Well, it finally happened.
UST had a massive depegging event once again.
The worst ever in fact.
Absolute shit show is a decent description of the situation.
Sadly just after I put more money back into Anchor too. Meaning I was over exposed to UST.
Compounded by the fact that my Curve Finance pool which was supposed to only be ¼ UST got raided leaving me with 95% of my stables there in UST too. Leaving me much much more exposed than I am comfortable with.
For me this is enough to leave UST and never look back.
The stress alone of having to deal with depegging events like this is just not worth it.
I sold my LUNA, for about the same price I bought it for.
I did previously remove capital, and take profits on LUNA, so still a win, but not an epic one, especially considering the drama.
Regarding my UST position, I am actively looking to dump this.
Who isn’t, lol?
Hopefully I will have managed to get out for a manageable loss by the time you read this on Sunday.
The interest gained from staking in Anchor and on Convex will help mitigate the damage. Although it does set me back months in terms of passive income gains.
Plus the silver lining is that any loss here is tax deductible.
So yes, I am selling UST for a loss, but so long as I can get back most of my capital then I can eat the loss without too much drama.
Will it repeg? Maybe.
But I don’t care anymore, I have lost all faith in UST.
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Top Trending Coins This Week By Rebecca
Here are my key takeaways from the trends this week, and it’s been a mixed bag of good, bad, ugly, and new.
1 – TerraUSD (UST) is an algorithmic stablecoin on the Terra network that has struggled to maintain its peg this week, dropping to $0.67 amid crypto market turbulence.
2 – Terra is a stablecoin ecosystem that’s trending for the wrong reasons this week as UST struggles to maintain its peg to the US dollar. The Luna Foundation Guard…
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.
