Overall, market of crypto has been seeing some decline in price for the last couple of days. Seems like the market is reacting accordingly and the impact of its reactions is directly hitting on the prices of altcoins. HIVE is no different.
While writing this post the price of HIVE has just hit below 20 cents. As a matter of fact, the price is hovering around $0.1955. While as you can see in the chart below, it is probably trying to touch the lower lows of the months. If that happens, we might see a price dump anytime soon. Which is why, this is probably the perfect time to scoop up some HIVE and do the things that you want most. By that I mean, powering up HIVE, use it in other sources accumulating in cheap price etc. For the time being, I want to add up few of my positions in the liquidity pool and power up some HIVE as well.
HIVE To HBD Pair in Hivede.io
Take some advantage of the low price of HIVE
- Step 1 : Convert HBD from internal market to HIVE. I usually use HiveDex. It gives the vibe if using a full fledged CEX
- Step 2 : Power them UP. And keep on using those power.
While since this step has been taken care of, time to utilize some portion of HIVE into the liquidity pools of other tokens. I have made some targets in HIVE Blockchain for the last couple of weeks. I am also approaching those targets day by day. Even though, it is going in a slow pace but I am gradually walking towards my destination.
Since the price of HIVE is low, why not use this at my advantage. Which is why, I decided to up my holdings in the liquidity pools which are at my disposal. I have the target of achieving 100k Colony tokens in the liquidity pools of SwapHive and Colony Tokens. While writing this post, I am currently sitting at the position of 53,000 Colony tokens approximtaley. I also have been going through impermanent loss due to the fluctuation of prices in HIVE and colony tokens. Which you can clearly see in the graph of price chart below. But either way, I do believe this is probably one of the best time to do what you want with your HIVE. As everytime HIVE drops is time there are users who cherish the price dump. Because they get the opportunity to scoop up some more HIVE in discounted price.
I wanted to add up 25 HIVE in the liquidity pool of the pair of SwapHive and Colony tokens. Which is why, I converted half of my Hive to Colony tokens via Tribaldex, while kept the other half for the other portion of the pair. While conversion of HIVE gave me approximately 16k Colony tokens. With that amount, I just added the liquidity which were available in the process.
With that adding of liquidiy, I am currently sitting at the position of 69792 COLONY Tokens in the pool. I definitely have come a long way with these small investments over the time. But I do believe that, these have been a necessary step for me in order to be consistent and give every ounce of effort out in here. I definitely need to be better and do much more in order to get past my comfort zone. Which is why being consistent is what we need to be and do what we love.
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For the time being, I am doing my best to keep on accumulating HIVE and its few of the layer two tokens. As they will be much more effective once the price of HIVE appreciates in the open market. Till than it is to us to acquire as many HIVE as possible and just sit idle and do what we do best! Power up, earn Hive, repeat!
Best regards
Rehan
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