Tracking my weekly progress on Hive
Hello Readers,
I hope all of you are doing well in life and enjoying this crazy pump season happening in the cryptocurrency realm right now. Whether you are new to Hive or an old die-hard fellow user, I hope you are having a fantastic time after finally seeing the long expected growth in crypto, especially in the Hive chain. Many of us have been here on this chain for a long time and stayed for a vibrant community. In this one-of-a-kind blockchain in the crypto-verse, users can actually earn real crypto for their contributions on this blogging cum social media platform built on decentralized blockchain technology. Like many of you, I have also been a daily user in this amazing universe of Hive and Inleo and have been building my wealth earned from my content over a long period of time to both boost my earning growth rate and build an influence in the community. Today in this post, I am excited to share my weekly tracking of financial growth on the Hive blockchain. Every week, I track my financial progress to stay focused on my goal and stay motivated on the track, and again today after a week, I am here to share my plan, growth, and some insights that might help you on your own journey. So if you are interested, let’s take a dive without any further ado.
First of all, let’s take a quick look at Hive’s current price as you can see from the coinmarketcap chart of Hive’s price above, currently, it is being traded for 0.2925 and has been maintaining and slowly increasing since its corrected price from the last recent ATH price of 0.325$. It has increased over 56% in the last 30 days and I am very positive that it will make a new ATH at least over 0.5$ this time.
1. Hive Power (HP)
Now taking about my weekly growth, Let us first start with HP (Hive Power), as it is the main pillar of both the Hive blockchain and my portfolio as well. When I first joined Hive back in 2018, I wasn't educated about crypto at all. I started my journey in this crypto realm with the Hive chain and through posting photography and other random blogs on this chain. Hive Power was a bit confusing for me and it was literally like internet magic money & I ended up losing a lot at first after investing in scams and weak projects, but now after learning my mistake, I treat it as a valuable wealth and the foundation of success. When you stake Hive to get Hive Power, you are not just holding tokens and earning some rewards in return, you are increasing your influence on this platform, no matter how small or big.
First of all, Hive Power Curation Rewards by voting on other’s content with your staked Hive, you earn curation rewards in return in the form of Hive power at a rate of up to 13% depending on your effective voting rate. The more HP you have, the more your votes count, which means more earnings from community engagement. Now on the other hand, building more HP also increases your Community Influence, as not only your vote value gets bigger and thus help other authors more with your vote value, but HP also gives you a say in important decisions, like voting for DHF proposals or for Hive chain’s Witnesses which dictates the platform governance and future changes that shape the future of Hive.
Now taking about my weekly progress on Hive, last week my HP was at 16,493, and when I checked today, I was very happy to find it at 16,690. That's an increase of 197 HP in just a week! It's an awesome increment and as noticeably, the Hive’s price has increased over 50% and that's why maybe we are also getting less hive as author payouts. Anyway, Building Hive Power is a slow process and takes time to increase with active blogging and engagement, and it's all about consistency and endurance.
Besides Hive Power, I have also been saving up Hive for a long time and right now I have a total of 13.236.87 liquid Hive in my wallet which I have decided to exchange if Hive increases over 0.60$ and convert it to HBD and then save the HBD in the locked wallet to enjoy 15%. Recently while converting some swap.hive, I noticed that the uswap website has a shortage of Hive and would be paying 0.5% if someone fills up that space. So I just took the quick opportunity and helped it refill and for my 13.260.142 Hive tokens, I got a solid increment of 13,304.659 Swap.Hive in return, so over 44 Hive. Now even if I can not convert it again before Hive suddenly rises very high, there will be swap.hbd or other hood coins like dec to covert my Hive and protect my value.
2. Hive Backed Dollars (HBD)
Next up, let me talk about the Hive Backed Dollars or $HBD. For those of you who are new to Hive, it is the stablecoin of the Hive blockchain logarithmically pegged to the US dollar. Unlike any of the other stablecoin out there, Saving HBD can be a smart move because here, you earn a solid 15% annual interest rate by simply storing it in the savings account on Hive. The unlock period is just 3 days and the interest is being paid monthly basis.
Now looking at my progress, In the last week, I managed to increase my HBD balance to 1100, but I recently sold some of it and the current balance that I have is 966.5 at the moment. Looking at interest, I have earned 7.6 HBD in interest alone for the last 16 days. My goal with HBD is to reach 3,000 HBD over the long term but as I use HBD as my real life-saving wallet, its value gets flaunting a lot, so let’s see how fast can I reach there.
3. Leo Power (LP)
Last but not least, let us now take a peek at the Leo Power LP and I bet most of you are already reading this post from the Inleo platform. $LEO plays a crucial role as a main token of a platform like Inleo, which is a vibrant community on Hive for Web3 enthusiasts. Staking Leo tokens as Leo Power or LP allows you to earn $LEO rewards for curating and posting content on Inleo.
I Have been active in the Inleo for a long time and have enjoyed the journey of the community and saw it growing into a gigantic web3 social Media platform. I recently participated in LPUD event on the last 15th, where I powered up 150 Leo tokens. So currently, I have over 11,861 LP and since the last LPUD, I have earned a total of 115.19 Leo which I will keep saving and powering up on the upcoming LPUD. With Leo, I aim to reach 15,000 LP one day in the future hopefully soon for the esteemed "OG LION" status.
I hope you liked reading my post about Growing wealth on Hive. Let me know your thoughts regarding this topic in the comment section below and I will be seeing you all in my next post.
Posted Using InLeo Alpha