I recently took advantage of the crypto crash and converted $1000 worth of HBD to HIVE. The chart below shows the 3.5 day period that was used to calculate the amount of my conversion using the HBD to HIVE feature on PeakD.
Now that the conversion has taken place, I figure I'd write a post about the price I was able to get over the 3.5 day conversion period and whether it ended up as a good trade.
As you can see there was a dip in the price immediately after when I started the conversion so I was able to "dollar cost average" into the HIVE during the 3.5 days. Alternatively, had I just used the market to buy 1000 HBD worth of HIVE, I would have been buying in at a higher price. Now, this can go both ways since it's possibly the price of HIVE could spike during my 3.5 day conversion and then fall right after, resulting in me paying higher prices as part of the conversion.
Based on my receiving 2824.858 HIVE for my 1000 HBD, that comes out to a price per HIVE token of $0.354 USD. Considering that the current price of HIVE is right around $0.40 USD, this has been a profitable conversion so far.
As I mentioned in my initial HBD to HIVE conversion post, I have been very happy with how well HBD prices have remained stable during the crypto market turbulence. Obviously, HBD isn't in the same league as UST but the stability it has shown is remarkable. I'd love to see some additional utility added to HBD over time including being able to transact in HBD across a wide range of goods and services. I'm glad I made HIVE my primary cryptocurrency investment as this project appears to have some strong staying power and excellent utility beyond simply being a cryptocurrency.
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LEO Power Up Day Results
Around the same time as this conversion occurred was the inaugural LEO Power Up Day! I posted about how I chose to double my LEO Power for PUD and the results of the PUD winners can be found here.
While I didn't win any of the prizes this month, I plan to keep participating and building up my LEO Power each month as part of this new program. I have also found myself writing more LEO content as a result of this new PUD so I think it's a win-win for everyone and look forward to seeing the LEO community continue to grow.