Friday Finance 6/24/2022: What did I miss?
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
As I mentioned in my post yesterday, I have been "offline" for a week or so. Besides the trip to Nashville that my wife and I took in the Spring, this was the biggest trip we had planned this year.
As you might have read, my laptop which I had planned to use every now and then over vacation promptly died our first night there. You also may have read that I forgot to bring the powercord, so any Hiving that was to be done over break had to happen on my phone.
On top of all that, we were in an area of the state where cellular service isn't the best, so I ended up missing out on a lot of the crypto happenings over the past week.
As such, this will not be your typical Friday Finance post.
I continue to be impressed with the Listnerds team. I think they are doing some pretty great stuff over there. Unfortunately, what many of us anticipated has happened....
When the first large unstakes started happening after the 10 week period, some people promptly dumped their tokens and it sent the price of the ListNerds token into a steep decline.
Where the token used to be around 1.5 Hive per Listnerds token, it was trading at around .2 Hive per token for a while.
Again, we all knew it was going to happen, but you would have hoped that people might have a better handle on their greed. It's not the un-staking that is bad, many of us are doing it in fact. The difference is, we are un-staking a significantly smaller portion than we are staking.
When sold in smaller batches, you can get a nice return without completely tanking the price of the token. However, some people are just in it for the quick buck, and they don't honestly care about the token or any of the other users on the chain.
I have to admit, it was disappointing to see our fears realized.
The team actually addressed this in their Discord and it sounds like they have some really cool ideas for the future of the Listnerds token, so holding onto some of them might have been a better plan for those people who dumped.
Building something great takes time. Even in crypto where things seem to move at blazing speeds.
As someone mentioned in another post (I can't remember who now), we are right around 30 days left on the SPS airdrop. It is a little hard to believe it has been that long already. For a while now, I have had the number 100,000 in my head in terms of how much SPS I would like to have staked. As of today, I am just about 500 to 1000 SPS away from that goal.
Given how much SPS I make per day from the various sources, I should be able to surpass my goal by next week.
With that in mind, I think I might stop staking my SPS once I get to that goal of 100K. SPS is going to be used for purchase of the mini-expansion packs that are on the horizon and I would like to get as many of those as possible. I was earlier than some, but later than others to the Azmure Dice packs and I think I made some beneficial moves with those.
I've been known to struggle quite a bit with keeping tokens liquid. If there is the chance to stake something, I usually go that route and end up causing myself grief by not having a liquid bag.
Let's see if I can avoid that mistake with SPS...
I think there is lots of future potential with that token and once the airdrop dries up and more use cases pop up for the token, the price will increase accordingly.
Posted Using LeoFinance Beta