We have seen the volatility with Statera in the last weeks, from the huge run-up in February to the pullback we saw in early march where our holdings o Statera just halved in value almost instantly. I really noticed it in my Statera wallet in Publish0x when it literally halved in front of my eyes. This was not a happy moment.
Is it still worth holding Statera?
Since mid-march, it has continued falling and then stabilised before starting to rise again today. Are we seeing a reversal again now?
For a deflationary token, I did not expect such a fall and volatility. The market cap of Statera has also been falling with the burning, causing it to fall more than 100 places in the ranking.
Here is a snapshot from around 1 week ago:
Here is the current snapshot from today:
So we can see the deflationary aspect is working. But could take some more time to work itself out into the price.
What strategies could we play with Statera? Let's take a look.
Statera is a deflationary indexing token that will burn 1% of all transactions. Will this help to grow the value in the future? In my opinion, yes if there are some practical use cases for the token, such as it being used for the tipping on Publish0x.
Some ways to help grow your stack of Statera I saw instead of just leaving it in your Metamask wallet are to add it to some of the pools existing on Beefy Finance. Here you can see some crazy APYs. This can be done easily by just connecting your Metamask wallet.
If I decide to convert some of my Statera, I'm considering either to convert it, following either a passive income or growth strategy. For the passive income strategy and hopefully with less volatility I could convert my STA to a stable coin such as USDC or USDT and earn easily 10%+ for example from CDC. Or I am considering searching for more yield, and trying a Defi stable coin like HBD which can yield 12%. For even more yield possibly I could convert to UST and try to yield farm at Anchor with currently around 19% available.
The most simple strategy which provides some passive income but is volatile and is more of a growth strategy is that I could move my Statera funds over to either of the blue-chip cryptos such as Bitcoin or Ethereum. I could then stake for around 5% but could get some bigger gains than sticking with stable coins.
I will be keeping Statera currently as I have only a small stack of 145 and see if it rebounds or not.
What strategy are you following and why? Let me know in the comments.
Thanks for reading.
Disclaimer: This is not investment advice and is for educational purposes only. Please do your own research before investing.