A Different Approach to Mining SUN

A Different Approach to Mining SUN

By Sapphire | Sapphire Crypto | 18 Sep 2020


The Herd Is Approaching The SUN

The launch of the SUN token has come at just the right time and as we discussed in a recent article, things are lining up very favorably for Tron. TRX has been largely unaffected by the recent altcoin mini crash and is sitting pretty secure at $0.03! Recently the price of the SUN token reached approximately 1350 TRX on Polonidex and is currently trading at 877 TRX. It is in fact rising after reaching a low of 500 TRX and will most likely rise above 1000 TRX pretty soon. I am mining a little bit of SUN but my main strategy here is somewhat different and only time will tell if it will be effective.

My strategies usually incorporate front running and if I cannot be in something long before the pack then I wait for the pack to grow weary. This is what I will be doing in regards to SUN and I will explain why.

This Is What I Observed Monitoring The APR

What always happens in these structures is that the annual yield is excessively high at the launch of the project and then proceeds to taper off significantly. SUN is no different and in just over an hour I have seen the APR drop 1%. That does not sound like much but how many hours are there in 2 weeks? When mining SUN, you are bound to a 14 day lock up period in which time you are unable to access your funds.

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What is counter-intuitive to this idea is if the price of SUN rises significantly and manages to cancel out this dynamic to some extent. This is why I am mining some SUN but my main play is geared towards the predictive nature of market participants.

What Is Playing Out Right Now

As expected, people are pulling out their TRX and other TRC20 tokens like BTT in order to jump into SUN. As a result pools are shrinking and in turn rewarding the investors like me who remain in the contract or staking protocol. For example, BTT has been giving an 18% to 25% annual yield for a couple of months now. It was pretty range bound and has recently broken out due to the pool shrinking, as members unlock funds to go farming SUN. Approximately 2 billion BTT has left the Dlive staking protocol recently. The APR has also increased to 46%.

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As people go chasing the SUN, I am remaining to maximize my gains and once a significant retracement takes place in the SUN economy I will have made more profits that I can now in turn use to mine SUN. I have been very bullish on TRX and TRX dapps of late but I still need to calculate and time my moves as best as possible.

For those who are going to be mining SUN and do not yet have a TronLink wallet, if you download the mobile version and use my code you will receive 300 points which can at a later stage be exchanged for mainstream tokens such as TRX, ETH, BTC or BTT. According to TronLink, this can be as much as $100. Once you have set up the wallet, simply click "ME" in the bottom right-hand corner and then "Friend Invitation". Enter the code 9tZx and you are done.

As always, this is not investment advise. Please do your own research and spend time checking and investigating potential investment ideas.

All the best as you navigate your way through the Crypto world.

 

BlockFi > Earn interest on your Crypto! My top CeFi solution!

 


Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Move into Crypto with Sapphire Crypto!


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Move into Crypto with Sapphire Crypto!

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