In This Issue
- My latest portfolio updates.
- Rebecca breaks down this week’s trending coins.
- Erik has a report for you on the best crypto memes.
- The team from Walken talks about their free-to-play win-to-earn game built on the Solana blockchain.
- Jesse has a deep dive for you on Internet Computer and why it’s failing.
For any crypto related questions please comment on the website.
For any support related issues please visit wealthmastery.io
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Buy, trade, and hold 600+ cryptocurrencies on Binance
Lark’s Portfolio
This Weeks Moves
I bought more Bitcoin for long term holding.
Same as every week really. Just consistent, small, long term focused purchases. I will keep doing this while we trade under the 200 day moving average, which could be for a long time.
I also bought some Ethereum for a short term play, not a huge amount.
Entry price was around $1,100, sale price is at $1,800 near previous major support.
My reasoning here is that there will be a decent rally at some point, even if I have to wait a few months for The Merge hype to build up.
No rush on this. Just a spot purchase. If the price plummets then I will hold it for a while. No worries.
I added a little bit to my JOE position. This is either going to be genius or insanity long term.
If Avalanche remains relevant then Trader Joe should remain relevant, and that should mean that the USDC rewards will be lucrative long term.
I got my Walken tokens from the token sale and sold them on Bybit for a tidy little profit. Token sales still make money even in the current market conditions.
I sold my HIGH position and removed my liquidity from the pool.
I have vesting staking rewards that amount to more coins than I even had, so in theory the staking has been good. BUT, I can’t access any of them for a long time.
First batch unlocks in 6 months, last batch in 12 months.
I will either make a nice profit off of those staking rewards in the future or they will be worth nothing. That is about where I see HIGH right now going into a bear market.
My end result from exiting the liquidity pool was a loss of about 40% of the Ethereum I deposited, although the number of HIGH tokens about doubled.
These extra tokens almost cover the loss of Ethereum. So the end result is actually not all that bad. The impermanent loss is rather minimal.
Now IF, big IF, but if those staking rewards end up being worth something in the future then this liquidity staking adventure was a win.
Right now it is a slight loss. Not accounting of course for lost opportunity cost had I simply dumped the HIGH when prices were higher… but never mind that.
I sold my wrapped Bitcoin for regular Bitcoin. Why would I do this? Well for a few reasons.
One it reduces the honey pot of my Ethereum address.
Two, I get tax benefits as technically this is a sale of my wrapped Bitcoin which I “bought” using Bitcoin at a much higher price.
Three, I don’t need wrapped Bitcoin anymore.
After the revelations that basically everything is a taxable event and now seeing so much breaking across crypto, I just don’t need to have WBTC. To be clear, I don’t have any fears that WBTC is going to unpeg or is unsafe, there is just no practical reason for me to continue…
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.
