The crypto market is well known for its volatility and sometimes we see it a lot however there are times when we feel like things are quite stable. Although I always feel that it is a good thing because this way most of the time we get the opportunity of either selling and booking profit or we can also buy back at a lower price. This can also be a situation that we interpret according to our benefits and I believe most of the time if we believe in certain projects then it can turn out to be a profitable situation. What I'm trying to say is that if you sell and book profit then it is good but if you also get the opportunity to buy back at a low price then it is a good deal as well.
Binance LaunchPad
Binance exchange has got two projects on its launchpad and these are cyber and SEI. I usually participate in the launchpad by staking BNB because this way at least some rewards are distributed and some token's value is really well so I just try to grab this opportunity. This time also I did the same so I deposited my BNB for SEI and CYBER both. The reward distribution for SEI was good in terms of token numbers but it was very bad for cyber and I don't know why. I was able to accumulate over a hundred sei tokens in the last 1 week approximately but for CYBER it was not even 1 coin because of its poor distribution. Both coins are launched in the market on 15th August and this was already announced.
SEI
The current price for this coin is almost $0.20 or we can call it slightly more than $0.19 however it went all the way up to $0.27 after the launch. It is difficult to determine whether I should be holding the coin or I should sell it off because in the past when I sold off then the price increased. Even there were situations when I kept on holding but the price did not appreciate so it is difficult indeed to figure out what should be the right action for such projects that are landed through the launchpad. I followed my standard practice that I usually do so I sold off 50% of my holding at this price and remaining 50% I will continue to hold it and see how it turns out to be. Maybe it grows further or maybe not that I'm not sure of but if the price appreciates after some time then it can be a better deal for me.
CYBER
Here in this case the token price was good when launched and even now it is better as its more than $4 but I did not even get 1 token in total as part of the reward distribution. Whatever quantity I accumulated which was in decimal I sold out and I got about $3 which is really low but it is ok because that is how it is and I did not want to hold it because of the low quantity. This token was also distributed as part of the airdrop and I saw some people talking about it on Twitter that they are not happy with the distributions so altogether this project did not do well on the overall distribution including the reward for people who deposited their coins in Launchpad.
I hold SEI coins and even the reward distribution is ongoing so I am not going to remove the stake. I will continue to accumulate the tokens and see how prices are going to perform in the coming days for this token however for the cyber I will continue to sell off because I don't believe in this project but seems like SEI can be a good option. I know that it is difficult to predict how things will be but looks like this project can be promising and since I have already booked profit on the sale of 50% of my holding so it is fine for me to hold the remaining balance further. It becomes really difficult to determine whether I should sell or hold because we do not know how the project is going to do in this market and this is the reason why I am a little confused so just going with the flow which can be either good or a bad deal for me.
I have not invested any amount to grab this reward so it is like a free deal for me and maybe I can say that whatever is received is like a bonus for me but I am just trying to be greedy here or maybe I am trying to follow a different strategy this time. so it's clear that whatever cyber I receive will be sold off and now for SEI I will continue to follow the price so if it is better then I will sell off but if it is not then probably I may hold. The next move is going to be dependent on the market move which is mixed of cell and hold both depending upon the overall sentiments for this coin in the market. I see that now there is a dip in the market and the same is also reflected in the hive price so this amount I will try to use this to buy some hive at this price when I think buying is highly recommended. I keep on trading high whenever there is a price change which is like selling high and buying back at a low price.
Thank you