Seems like green July is about to be over, after giving us a glimpse of hope that we are about to see the Green Days again. Bitcoin has had some dip from the $23k price we were excited to see it at, ETH has also dipped from the $1,600 price we were also excited to see it at. Solana gave me a shocker and for a second I think it’s a wake up call. Solana was at $25 few weeks ago, but pumped to $47 which was almost 100% increase. This got me regretting I didn’t stack up some SOL while it was $25. Because there were some NFTs I needed to buy but became more expensive as the price of Solana increased. Now the value is down at $35, it’s time to start being vigilant to snatch some SOL off the market.
I have high hopes on the price of ETH because of the upcoming Ethereum merger, but at the same time I am worried for other coins and blockchain project whose total existence was based off Ethereum’s flaws, because they wanted to be the next Ethereum Killer. I wonder how they will survive after the merge, will people still use them as alternatives after Ethereum scalability and high transaction fees have been fixed. I guess we have to watch and wait then.
But once again, it’s just another day in the bear market season. Which is interesting but frustrating, interesting because our token asset bag keeps filling up but frustrating that the value either stays stagnant or keeps falling. Except HBD which had over 300% pump the other day, this was exciting and scary, exciting because I thought of the possible profits one would have made if they had liquid HBD to sell, but scary because for a moment I thought of the possibility of the situation being reversed. Because it’s called a StableCoin doesn’t mean that it is completely volatility proof, it’s programmed to stay stable but what happens when extreme demand supersedes the supply. From observation, there is 25 Million HBD in supply but $17 Million was pumped into HBD from the upbit exchange. I guess we still have a long way to go in regards to HBD supply and this can only happen if we keep stacki those HBD in savings.
The HBD pump got me feeling that Hive pump might just be around the corner because sometimes Hive gets a special pump time. Well, in all of these fiasco, crypto is still one of the best things to happen to us, and is a great space and I am glad for Hive, giving me the opportunity to talk about my crypto journey. I guess I can call it my crypto diary.