After watching the crypto market pull back the last few weeks I received an email I had been expecting to get. Hodlnaut is revising its crypto interest rates for some of the coins that it has. An important thing to note though is it does not affect all of the cryptos they offer! Stablecoins (USDC, DAI, and USDT) are all not affected by this at all so with USDC and USDT you will still be earning an amazing 12.7% APY!
On the other hand BTC, ETH, and wBTC have all decreased. Bitcoin and wBTC both are being decreased by 0.80 so the 7.50% APY will be changed to 6.71% APY starting February 8th. Ethereum though has been pummeled the worst out of all of them the last few weeks and so it is facing a even larger cut to its APY. Currently ETH is also 7.50% APY but this upcoming cut is lowering it to 5.65% APY.
Due to the market conditions and the competition facing the different cryptos being offered it makes sense to see a decrease in interest rates with a pull back in the market. What I found really comforting what that these changes will not go into effect till February 8th so individuals have time to plan accordingly! With the stablecoins staying the same I am happily going to continue to compound my USDC holding on Hodlnaut into BTC a feature I have really come to love with the pullback! Hopefully the market continues to stabilize and consolidate so that a new future run up can start sooner rather then later!
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
Robinhood
If you do not already have a Robinhood account if you sign up here and link your bank account we both earn FREE stock! You also will be put on the waitlist for crypto wallets as well! Don't forget Robinhood crypto trading is commission-free! 🤝
Fold App
Offers daily wheel spins to win free sats daily! If you sign up for Fold with my link here you will get 5,000 sats for free! Currently, you can get Fold's Premium Debit Card Fold+ for free until February 1st. If you sign up for that as well we each receive a free $25 credit!
Unstoppable Domains
Sign up using my link here and get a free $10 credit towards your first $40+ purchase!
Coinbase
Sign up for Coinbase and earn $10 of free Bitcoin when you buy or sell $100 in crypto with my referral here!
SMiles
If you are like me and walk to work every day this app rewards your walking with Sats! So far I have earned over 2,200 sats in just a few weeks walking to work! Here is my link!
