The volatility continues in the crypto market. It is difficult to say that there is an air of enthusiasm. The total value of the crypto market had increased 7 times between September 2020 and May 2021. In the last 11 months, the market has been trying to digest this increase. Although the prices go up and down like a roller coaster, the market moves horizontally. Meanwhile, some coins have provided good returns to their investors.
For example, while Bitcoin lost 36%, Ethereum gained 20% in the last 12 months. The only thing I don't like about Ethereum is the low DEFI return compared to other coins. I am currently holding my Ethereums in the ETH-USDC pool on Alpaca Finance. By borrowing USDC and using 2x leverage, I carry as much Ethereum as my original liquidity. So I get a 16% annual return on my Ethereum coins.
I did not have the prudence to invest in Luna, Solana, and Avax, which were stars of last year. I also did not invest in any of the Decentraland, Sandbox, and Axie trio. Actually, I liked Decentraland, since the DEFI pool was on the Ethereum network, I refrained from investing due to the gas fees.
Last year, Hive has achieved a 44% return. At some time last fall, the Hive price was as high as $3. Although the price has regressed in parallel with the market in recent months, it is positive for Hive that it has provided a return above Ethereum in the last 12 months. Moreover, in the meantime, we benefited from curation rewards and airdrops. I think Hive has fulfilled its duty to its investors last year :)
These days last year, Leo was trading at 0.77 USD, driven by the successful Cubdefi launch. I made my first considerable Leo investment 3 months ago at the price level of 0.16 USD. When I take into account the income from the Matic-pLeo pool on PolyCub, I find the income from Leo satisfactory.
I wonder what awaits us in the next 12 months? I am happy with my investments in Hive, Leo, Polycub, SPS, and Ethereum. Each of them has a strong story about the future.
Layer 0 blockchains Polkadot and Cosmos performed poorly last year. On the other hand, Cosmos-based Luna and Cronos were among the stars of last year. In recent months, Cosmos-based projects Thor and Osmosis have started to attract high interest from investors.
Claiming to combine the good features of Polkadot and Ethereum, Moonbeam has managed to become one of the popular blockchains of the last period. Kava, which claims to combine the good features of Cosmos and Ethereum, is similarly attracting the interest of investors. Their success on the DEFI side reflects positively on the price of these coins.
Projects that will form the technical infrastructure of Web3 may become popular in the coming period. Operating in the field of file storage, Arweave is a project that I follow closely in this context. By the way, I also keep an eye on my Spk.Network LARYNX tokens.
I believe that DEFI tokens may become popular again in the coming period. In the field of play-to-earn, I am curiously following what will happen on the PsyberX side.
The crypto market has been flat since the start of the year, so we don't feel the same enthusiasm as last year. When evaluating the performance of the crypto market, it is necessary to consider the 7-fold increase in value between September 2020 and May 2021. In the consolidation period, macroeconomic conditions also negatively affect crypto assets.
In this period when prices are flat, I am busy with crypto-generating works such as producing content or making DEFI investments. I am also trying to deepen my knowledge of crypto. These activities do not lead to a significant increase in my portfolio for now. But in the next bull rally, I believe every coin owned today will make a difference.
Thank you for reading.
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