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For those market watches amongst us it has been a nail biting week. This kind of pulse raising volatility probably explains why we advise you to focus on the fundamentals rather than checking your portfolio on an hourly basis.
Bitcoin hit a low of $28,893 for the year wiping out all this year’s gains but then rebounded to $33,900. Ethereum fell below $2,000, then made up some of the lost ground before ending at $1,900.
Our Micro Cap Watch List saw mainly losses for the week.
There were only two cryptocurrencies in positive territory, SYLO and LIKE.
The weakest performers for the week were:
Uno Re -54%
We removed Polywhale – https://www.coingecko.com/en/coins/polywhale – from our list. After recording a few weeks of impressive growth just after we added it to our list it’s price has slumped in line with its TVL. It is a sorry case and is a stark reminder that sparkling three and four digit APR’s are not sustainable. Many rely on the token price continuing to rise similar to how the Enron fraud was structured! We will come back to this thought shortly.
We made no new additions this week as there continues to be much value in our current list including PIVX, PLOT, CertiK, Polkerstarter and Haven which all look attractive at these levels.
View the Micro Cap Watch List here: https://cryptoquestion.tech/micro-cap-watch-list/
Every week we will be providing a table of staking and farming APRs identifying the leading platforms and the most attractive APRs including a few of the racier platforms.
You can view the table here: https://cryptoquestion.tech/stakingandfarming/
You can read our article which explores whether crypto staking and yield farming is a sustainable and credible investment together with the associated risks. We also look at a few case studies so that we can learn from the lessons of the past.
Does crypto farming and staking stack up?
Finally please join us on Reddit and share ideas or concerns with our knowledgeable and friendly community r/moonshotmonday
Have a great weekend and until Monday.
This article does not constitute financial advice or a recommendation to buy in any way. Always do your own research and never invest more than you can afford to lose. Investing in cryptocurrencies is high risk, and you could lose 100% of your investment.