Hello Everyone, it's another interesting week in crypto, and I've added a new coin to my Wallet.
I took some profits from my ADA holdings, because.. I really dislike the lite ADA wallet, and I rode it from .20 to $2 and some change, and I'm not that bullish on it going forward.
I wanted to find another young chain to speculate on and mostly due to hype, I bought some AVAX.
AVAX is the staking token for the Avalanche Blockchain, it earns staking rewards, controls governance and pays for transaction fees on the Avalanche chain.
Their Website, like most crypto websites, is a dump of buzz words that could literally be used by any chain, including Hive. Fast, cheap, easy to build on is the best summary I can think of.
Which basically means fast, cheap transactions on a POS (Proof of Stake) chain. Almost every chain uses these attributes to market with, so nothing exciting here.
A marketing phrase that is still working though, is the "ETH Killer", or ETH Competitor phrase and they use that as well as smart contracts, defi, NFTs and all the things that ETH excels at.
And they allow a bridge to move assets from one platform to another which is pretty cool.
They have a huge and Active community on Discord, Telegram, Twitter and other places and they are getting attention from the popular pod-casts.
So, I decided to check out their wallet, because that was a ADA deal breaker.
I was able to quickly set up a wallet and transfer a few tokens in.
Using the now common MNEMONIC Phrase
Easy and typical, nothing fancy here.
AVAX currently is 14th on CoinMarketCap, and it's transactions are trending up as well as unique wallet addresses. It has a capped total supply of 720,000,000 and trades on nearly all of the common exchanges.
Current price $62ish on various exchanges, and my entry point was $60.
This coin is a bit mature for a huge run, but still has room to grow, if it continues to attract new users. I hope it is a solid investment, but this isn't likely to bring extreme wealth as it has already gained a lot of attention.
What do you think of AVAX and what projects are you excited about?
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Too many coins.
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There are way too many and it will consolidate!
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Feeling AVAX is a bit overvalued and might not explode ? Why not pooling it on beefy avax (Trader Joe) with some USDT at an honest APR of 107% ? :D
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Interesting idea! I will check it out and consider... Thanks
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The price doesn't give me a lot of hope for an exponential kind of growth
Yeah, I tend to agree, it could double or so, but not 100x or anything
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Read about it. I feel frozen to add coins now.
To much ATH for now
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And probably there will be more. For example $100 000 Bitcoin soon(er or later).
Honestly? That it is a little bit overvalued. Maybe this is just/only me, but this is what I think. But seriously. $62 USD? What makes Avax so valuable? The transactions on it are not even free.
Probably it has too much hype and too much attention.
I am currently much more interested in Hive than any other cryptocurrency.
What a refreshingly honest response. Thanks!
It could be over priced, but the chain is younger and already outperforming Hive on many levels beyond just marketing which is important and we don't have. Nor does Hive have a clear vision to market. Don't get me wrong, Hive a great little chain with a good community and several successful applications. The overall project is 5.5 years old and we still have whales debating on chain about whether or not to remove the content rewards all together.
Regarding free transactions which are really nice for end-users whom we don't recruit, it's kind of a sucky job for our witnesses who have to constantly upgrade their equipment as the chain grows, with only price incentives to help them pay for the costs.
Imagine how motivated they would be to see more user transactions if they received compensation.
Every system has pros and cons and strengths and weaknesses. However, in a crypto cycle with 12,000 tokens, a lack of direction and marketing is a very difficult flaw to overcome.
I love the honesty and I am glad you are excited about Hive.
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I do not know why. Hive has so much potential.
Or maybe we do not see it yet. One thing is sure. Hive is literally making people's lives better. We can reach our goals and dreams with it. So it is improving people's lives. This is a clear vision for me.
With Ecency, we really receive it. Points for upvotes, reblogs, comments, etc. Basically for everything. And there are also the second layer tokens, mostly on Hive Engine.
And probably there will be many more Hive projects in the future.
I'm a supporter of Hive just not a maximalist.
Keep up the enthusiasm, I sent a couple of Leo, for the dream boat!
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Thank you so much, but probably something went wrong with the transaction, because I still do not see it on my LEO balance, nor in my LEO balance history.
I checked the transaction on Hiveblocks, and you sent the tokens to @xlorer.
I do not know who is he/she, but that is certain that he/she left the platform 4 years ago, so he/she will probably not even notice the tokens.
I'll hit ya again after my next payout! :)
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Thank you so much for the 25 LEO. I received it this time.
Luna and Rune are my latest buys! Also have fully accepted I can't catch 'em all, the space is growing so fast :-)