Torum - My XTM Strategy

By Sapphire | Sapphire Crypto | 10 May 2022


From Darling To Deplorable

Torum launched in early 2020 but only managed to garner attention once its XTM token went live on Uniswap in 2021. The token went on to appreciate even further alongside listings on Kucoin and Huobi. From a modest $0.05 per token, XTM went on to reach an all-time high of $2.45 in a matter of months. Torum incorporates Social FI, DeFi, NFTs, and the metaverse as a whole. This was one of the reasons I was reluctant to sell my XTM, it has exposure to pretty much everything! Another was the listings and partnerships with Kucoin and Huobi. I also took part in the “end of year” staking event which increased my holdings by a further 10%. This is also when I offloaded a small portion of my XTM.

A Quick Gain

I chose to withdraw a small amount and trade with it for approximately 2 weeks on Kucoin. Within this time I was able to grow this allocation by 50% before selling it for USD. This was fortunately when the price was significantly bullish, as my average sell was at $1.99. Looking back in hindsight, I feel rather pleased with this decision. However, at the time, I felt as though I was going to be missing out. It has however proven to be a good move, albeit a small move. I only wish I had allocated more and secured my profit.

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My Recent Decision

XTM managed to hold the $0.19 zone quite well but then began to lose ground quite speedily. This is when I decided to rather cash out the majority of my remaining XTM and build up the dollar value by trading. I withdrew a chunk at 0.104 and another at 0.073 earlier today. I did manage to cash out some at $0.19 as well. Compounding my profits will enable me to make up ground and begin restoring value to this allocation. There is also the possibility that XTM drops significantly lower and even if it rises from here I should be able to keep up, or better yet, outperform it. I fully intend to buy my XTM back and perhaps even secure a healthy discount! Micro-caps can really battle during bearish seasons, which serves to encourage me in my decision.

Time To Focus

So, I really have my work cut out for me here, as I need to make up ground and replace my XTM! I enjoy a good challenge, so I am looking forward to it, at this stage of the game anyway. I will most likely post updates from time to time on how I am faring. We could see volatility increase substantially over the next few months, which also makes for great trading opportunities. When you consider that alts could go down a lot further, it doesn’t appear to be too much of a risky move. Perhaps later it will prove to be a smart move that hopefully restores a lot of value to my portfolio.

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Final Thoughts

Torum still has a lot of potential and stands to benefit once the Metaverse truly gains traction and adoption. I would however like to see more use cases for XTM, as well as additional earning opportunities within the Torum ecosystem. I am obviously still earning free XTM on Torum, which also helps to rebuild my position. In a perfect scenario, I get to increase my portfolio and buy back my XTM at a super discount. I did however leave approximately 15% of my XTM untouched, just in case the market hands out a surprise! Do you own any XTM and what are your plans for it?

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice. Sapphirecrypto.org


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. Opinions are my own and not financial advice.

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