Hey All,
There is a saying in financial market - Stay Away from PENNY STOCKS And I guess the same stands true for the Meme Coins in Crypto Market. No doubt that MEME coins has the potential to make one rich quickly maybe a crypto millionaire if the coin rallies to 100x or even more. But then the question remains - How much one CAN Rely on #MEME Coins??? In this blog post, I did like to share my story with Chihuahua ($HUAHUA) - The Cosmos Meme Coin that I had been holding for long time now and today all of a sudden I decided to exit from it and buy a good coin which is Akash Network #AKT token. As seen from the above image I had closed to 15+ Million $HUAHUA tokens which was worth almost $1K and I swapped if for 301+ #AKT tokens. Where 15+ Million tokens and where is just 301 tokens - do you see the difference.
Today, Akash Network #AKT Token is down 9% and is trading around $3.19 Akash Chain has a marketcap of around $775+ Million and 24 hours trading volume is worth $10+ Million. The total supply of #AKT token is around 388+ Million which is a very thin supply - the token hit its all time high in Apr 06, 2021 (over 2 years) where it traded around $8.07 so its far away from its all time high price here. Lets delve into some basic understanding of Akash Network - is secured by a Proof-of-Stake (PoS) blockchain, and AKT is used to secure the network by staking. Staking AKT provides a passive income stream for stakers which currently if I am not mistaken the APR is above 10% excluding the commission fees charged by validators. The staking increases the security of the network overall. The #AKT tokens holders can also vote on proposals to improve the network and manage critical parameters such as inflation rate and take rates - so it acts as governance token of the chain as well.
Where one can buy the #AKT tokens. One can easily buy #AKT from a decentralized exchange Osmosis.. As mentioned above I did swap my #HUAHUA tokens for #AKT on Osmosis exchange only. To be honest, I am not looking to stake these tokens at the moment as I am going to #HODL it for a shorter period of time and if in between if I am able to make 20% profit then I would be more happy to take the profit and move on - so investment here is for a short duration, lets see how long it take to get this much of a profit..until then its #BUILD & #HODL for the moment.. cheers
Have your say on - Akash Network #AKT Token #HODL Vs SELL?
Are you invested in Akash Network token #AKT? Howz your investing looking like and what is the plan ahead. Would love to hear your thoughts around it in the comment box below? cheers
Sold Meme coin Chihuahua ($HUAHUA) - Investing in Akash Network #AKT Token - My Strategy Ahead...
#akash #coins #akt #staking #defi #cloud #cloudcomputing #network
Best Regards
Image Courtesy:: coingecko, osmosis, akash.network
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've have an interest in BlockChain & Cryptos and have been investing in many emerging projects..