While the price action in crypto at the moment is not quite what it was a month ago, many wonder if we have entered a bear market. I don’t believe this is a bear market but rather, a regular cycle in the market. How does that saying go? One can easily handle a 100x but struggles to stay composed when down 50%. DIAMOND HANDS! Never invest more than you can lose. I know it’s a simple everyday investment term but many do not abide by it. If you are close to being overextended financially and up 1000% on a position, consider taking your initial investment out and let the rest ride as pure profits, your level of stress will be reduced greatly. SO, one might ask. What is the best approach during these slower times (in terms of price action)? How do I find opportunity? Simple, you educate yourself about things you have not taken the time to learn for whatever reason. Maybe you were getting X’s and being successful on the ETH or BSC blockchains and didn’t have the time to focus on something else. Why concern yourself with Fantom Opera (FTM), Avalanche (AVAX), or Polygon (MATIC) if ETH and BSC are printing for you? I don’t blame you. But, with things slowing down it might be a good opportunity to learn about the different blockchains rather than wasting time staring at the sideways price action. I started exploring these three blockchains and can tell you a few things about each.
MATIC = fees are the lowest of the three, absolutely ideal for diversified portfolios, small diversified farms, minting NFT’s etc. I am currently running about 10 farms on Matic for less than $200 total and it’s actually very fun to claim and re-invest, almost like manual compounding with hardly any fees. If token prices can stay consistent, farming is very profitable. Liquidity is steadily increasing on the exchange QuickSwap and sits at over $1 Billion USD.
FTM = Very low fees as well, (Matic is much cheaper) but farming has been mediocre due to waning liquidity and some of the more hyped FTM projects have lost token value and led to great impermanent loss. Been struggling to find a consistent farm on FTM, currently SpiritSwap and SpookySwap have been the most stable. Kind of cool element however, because lots of projects run on Fantom have a “spooky,” element to them which could really trend hard around Halloween and Winter time.
AVAX = Fees are not necessarily the cheapest, I’d call them a tad more expensive than BSC but miles and miles cheaper than ETH. The blockchain has had a large VC backing and it being touted as the next big blockchain. The Network is fairly new but liquidity of their major exchange Pangolin, at $155 million USD, already has about 3 times the Liquidity of SpiritSwap on FTM. Definitely found a lot less meme token activity here but it was there none the less. Avalanche like its name suggest is branding around the cold, ice, snow etc. So many of the new exchanges, farms and aggregators have clever names like YetiSwap or Penguin Finance.
The Winner? MATIC on The Polygon Network. Why? It has the cheapest fees, liquidity is high, and the crypto community is eager and finally coming around to exploring the network. But, don’t take my word for it, try these three and tell me which one was your favorite and why.
