Two weeks ago today we saw the biggest liquidation in crypto history with $19.6 billion of leveraged positions liquidated over a 24 hour period. Crypto lost over $670 billion in market value with many altcoins suffering severe price drops. The last two weeks has been a fun ride if you never lost crypto in the liquidation event.
Surely we will see this latest liquidation record broken when Bitcoin and the altcoins are worth far more dollars.
I mentioned on the Saturday after the damage had been done the upside I experienced on COTI with those investors liquidated in the COTI Treasury now funding a much higher APR to those staked with no risk. It may seem boring earning a steady 14.43% APR to those that like leverage and higher returns, but I for one value my investment and do not like risk.
That Saturday lunch time my APR was sitting at a decent 86.48% then it took another week dropping by 3.53% sitting at 82.95%. Today the APR for my main stake as I have 4 staked pools is sitting still at a high 41.86% which represents a daily rewards of around 257 COTI daily.
On the 10th October before the liquidations took place I was earning 84 COTI daily which from then till now would represent in the region of 1176 COTI and ended up with 5109 COTI which is an additional 4000 COTI. The rewards are still boosted with the APR roughly 3 x higher still and that event keeps on giving. This has to drop back down to the 14-15% range again at some point soon which when that happens my daily earnings would be in the 90 COTI per day region which would be an overall daily growth of 6 COTI. Doesn't sound like much, but this is exactly how compounding works as the stake edges closer to earning 100 tokens daily.
The total stake has grown by roughly 14 000 COTI over the last two weeks and why you can never plan for targets because who knows what will happen next. The stake sitting at 224.6 K COTI has already surpassed my end of year target by 24K and I am now eyeing up 230K then 240K. Will the peak of this crypto cycle happen this year or early next year or are we in for an extended run? These are questions we have no answers for and is now in the hands of the crypto gods.
Staking and earning rewards is a gradual process of growth that takes time and in this case many years to achieve. This is no get rich quick way like leveraging, but at least I have all my tokens still unlike those that lost theirs. Personally I do not believe in gambling risking it for the biscuit and will patiently grow my bags and will still be guaranteed of getting the biscuit whenever that might be. When you place a value on what you have created then there is no point in being greedy and why I could never risk the years this has taken. The price may be down 26% this month which is depressing to some degree, but the upside is it created earning opportunities I have never experienced before and the price will bounce back again.