Plenty of options to make money even in this market
You just need to think outside of buying calls/stock. If all you're buying is roku paypal etc you're gonna have a bad time. These past couple years have led to this thinking of "up only" and are now resulting in millions of first-time investors refusing to take losses all the way back down. Try shorting overweight tech with P/E ratios greater than 50. Should Intuit really be worth 80% more than it was two years ago? Should Snowflake really have a 100b market cap with 800m annual revenue? No? Then act on it. Try farming stablecoins, there are so many APY farms that can easily outperform the SP500's average 10% gain. These are APY farms that are STABLE, i.e. none of the traditional volatility of crypto, that still pay out 10-40% APY per year. I am currently receiving 0.7% DAILY(1200% annual) compounding interest on one of my stablecoin positions. I've been receiving this interest for a month now, and this will last at least for the next month, at which point it turns into 40% APY. TC: 380k
Can you share some of these APY farm names. So it serves a starting point for somebody interested in learning more. You can DM me, if you are not okay posting this publicly. Thanks.
One of the basic ones everyone knows is Anchor with UST, currently offering 19.49% APY. The problem with Anchor is that you need to lock your coins in order to receive the full APY, which I'm not a fan of. My current preference(300k+ invested in right now) is TempleDAO. They have a partnership with one of the largest stablecoins(FRAX). No need to lock, and it has an intrinsic value of 0.65, i.e. the value of the coin cannot ever fall below 0.65. Right now it's trading around 0.7, which means max drawdown is about 7%. However, it never actually reaches 0.65 because the arb opportunity is too great as it pays out 0.7% daily interest. After around 30 days, the APY will be reduced to around 40%, which is still great imo. There are plenty others out there, do your own due diligence, glhf
Which exchange do you use to buy temple?
You say it will last until at least next month… how would you know the exact time to pull out? This sounds just like timing another market.
Where are you staking at? Kucoin?
Why r u spilling all the beans?