Hey guys, its Cole. I had written an article in October about Cosmos being available to stake on Coinbase.
I was wondering what would happen when that would occur, and was expecting a positive response. Frankly I didn't see them hitting $20 a pop, which they have been hovering around for a bit. Maybe in a couple years it could increase I figured. I actually had to sell all but one token for electric bills, but was able to make a large increase from the time that I invested at ~$4/ATOM. I invested in ALGO as well, and will write up a quick read about it soon, as it has had a great increase in a short time. Again, it increased a lot after Coinbase offered staking.
The last week or so it seems like there has been a bit of fluctuation in the price, but nothing too severe. The fluctuation could almost be seen as an opportunity, as it has been repeating it's rise/fall actions. Usually it will drop to $19.50 or so, then rise back up to $21.00 in a day. If I put more time into it, I am almost certain that I could make $0.50 a day by converting to a stablecoin when it hits $21.00, then buying at $19.75 to be safe and not get too greedy.
I only have a single token, but I would imagine that people would make a nice little turnaround if they had, say, ten tokens. That would allow the gain of a token a day at a $2.00 fluctuation, which is pretty amazing.
It seems that yet again Coinbase's staking program can drive the price of a staking token through the roof with little effort. Heck, even Tezos/XTZ was up to $4.59 recently, and seems to be stabilizing.
What a great time to be in cryptocurrency. I will write a short piece on ALGO, and will also report back on my cloud mining investment soon.
Thank you to whomever used my referral code on CMF from my cloud mining article as well! I really do appreciate it, and even a little helps me a lot at this time.
Warm wishes to all readers, it looks like Spring is around the corner here in Southern Indiana
Cole A. Matuschka