1 BTC Project - XYO Pump.

By 2MFTProductions | 1BTC | 3 Dec 2024

XYO Network token has gone double jet pack sicko mode in the last 3 days. This is the native token for the COIN app. COIN has been one of my go to sources for years now, so this huge move is bittersweet. If I had held all of the XYO that I had gained through the app it is possible that I would be in a better position (maybe).

I always operated on the theory that tokens that are tied to a liquidity provider, like how XYO is tied to COIN, would always have muted moves. I hypothesized this because there are so many potential sellers out there. I can think of a few folks on Crypto Twitter that are so irresponsibly long XYO that they should be selling massive amounts into this rally.

When dealing with this income source I would collect as much XYO as the chart appeared low and scalp the pop when the time came, or swap into BTC if I stacked $100 CAD worth. Alternatively if the chart seemed high I would swap immediately into BTC. The latter is the strategy I have been employing for some time now. I never thought this token would break a penny, let alone three.

Two idioms that I remind myself when something like this happens and I miss out are "hindsight is 20/20" and "you can't lose money taking a profit."

Although I was not involved in the XYO pump, I was swapping my XYO to BTC as soon as I could during the crypto winter. So I made 5X on those tokens instead of 3X in the last week.

What is the important lesson to learn from this pump is my hypothesis is dead wrong. The liquidity provided by free or freemium faucets is not enough to suppress the price of a token. This gives me some hope for other projects like Pi Network and the Sweat Network.

As for a go forward, I am going to hold off from swapping COIN to XYO for a while. I think the price will come off a bit so I want to wait until that happens.

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