Been few months since my last Binance article, and nothing major happened since May. Few events, few updates, new staking options but no Launchpool or Launchpad since the start of the bear market. Maybe it's true that the bear market is for building! Maybe that's why Binance made a smart move and implemented a zero fee for trading Bitcoin on 13 BTC pairs.
Binance celebrated the 5th anniversary and the party was less glamorous then the other ones. I was an OG on the day of the party, joining 1646 days ago. The events where disappointing, with random prizes for sharing useless tweets and pictures. I was expecting more organized quests or tasks, not leaving everything in the hands of a random draw.
The prizes were laughable, and the effort to promote Binance Pay lacked vision. Every user that used Binance Pay to send at least 0.01 BUSD received a BUSD Voucher. I not sure about the minimal or maximal values of the voucher, but mine had 1.55 BUSD.
Every Binance user received a Binance Pay Crypto Box in one of the giveaways. The code was available for everyone and my crypto box had the amazing amount of 0.20 BUSD! Thanks CZ for the kind gesture!
The market kept the descending trend and I decided to use my last bag of stablecoins for a leap of faith into Ethereum. This was weeks before the Merge FOMO, and I bought 0.81 ETH with 1001 BUSD. I couldn't afford so much without the gift vouchers or the crypto box!
The Galaxy Project was the last Launchpool on Binance, back in May. Farmed few $GAL and sold on listing day at 16 USD per token, a price that will take a while to see again. Wasn't sure if to sell or to hold, but looking at what happened next ... I made the right choice.
The big bad bear came and hit me hard with his furry paws. The value of my portfolio dropped with 70%, and I am talking about an average value not the All-Time Highs.
One of the few tokens that maintained a decent value was the GMT, maybe because the Move2Earn field is still at the beginning. The token dipped in value, but not as bad as others, maintaining close to one dollar each. I still have 13.9 tokens and I plan to hold them until GMT reaches 3 USD in value.
I had 1176 ELF tokens on Atomic Wallet since August 2020, and finally moved them when Binance announced they will add the token for staking. The $ELF Locked Staking opportunities on Binance where juicy, with 59.97% APY for the 90 days locking period. Only 16.29% for two months and 12.76% for one month staking, but still better than earning nothing for two years.
My personal quota for the 90 Locked Staking was 150 ELF, and the estimated interest for that amount will be 22 ELF tokens. I staked the remaining 1026 for 60 days, and the estimated interest is 27 AELF tokens. It's nice to see that this stash of crypto is finally multiplying, after two years of slacking.
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