250% POSH spike, LVL target and Bear Market thoughts
I woke up to a pleasant surprise from POSH token in my Hive-engine wallet. The Proof of share token spiked by an impressive 250% after a couple of trades went through
About 24-ish Hive was invested in POSH token and that led to a dramatic pump in the value. I assume the major protagonist of this pump, the POSH token wallet address, is the buyback program effectively pumping the price by filling sell orders.
Hive-engine data also shows that my buy orders technically contributed to the pump. In the past couple of days, only my account and what I presume is the buyback account have bought POSH tokens in recent times.
POSH market cap is still quite small, so with a couple of Hive, one could actually affect dramatic changes in the price of the token. That said, I'm going to continue putting in buy orders with a couple of Hive from time to time.
I'm quite optimistic about the POSH project because of the team behind it. So I will be adding a couple of tokens to my collection and try to climb up the rich list.
Topping the list will take a decent investment but from my observation, other than @acidyo, most of the other current top hodlers aren't buying from the market. With the crypto market in the shitters, this could be a nice opportunity to climb up the ranks at a discount.
LVL target achieved
It has taken a couple of months but I've finally achieved one of my milestones for the year. PsyberX is still in development but before then, you can start collecting in-game NFTs from the game's marketplace.
At the time of writing, I have two plots of land, as well as a couple of in-game NFTs that I got from crares. A crate in PsyberX is the equivalent of a Splinterlands chest and it houses five unique in-game NFTs.
Last time I checked, if you hold at least 200K LVL tokens, you become eligible for a monthly crate airdrop. I think there's a 60-day waiting period before the crate airdrop starts coming in but that's all good because I intend to continue buying more LVl and hold these tokens for a couple of years, at least.
As a huge Call of Duty fan, I must say that I'm super excited about this game and I'm also optimistic about it. Having a first person shooter game on Hive would be absolutely awesome and I think I'm going to be quite good at it, due to my experience in FPS games.
I have a good feeling about this game and I suspect that this game will really transform my gaming life. I reckon that when I've sorted out my immediate and medium term needs, I'll start working towards building my own gaming and crypto mining PC.
What if?
Finally, in the spirit of the bear market, I thought I'd end this publication with a couple of "what if" situations.
Earlier today, I ran into a publication that expresses fear that Ethereum could drop a further 60% from it's current price. That could get the price to as low as $450 in the process.
So what if Ethereum drops to $400-500 level, will you be buying or will you wait for even further drop in the value. Bitcoin maxis have been relishing the "demise" of Ethereum but then again, they hate everything that's not BTC, so no surprises there.
Speaking of Bitcoiners, Peter Schiff has consistently peddled his anti-Bitcoin views and while the Gold-loving investor has often been wrong about the market, what if Bitcoin actually drops to $10K?
Hive has held its ground pretty well, in the circumstance. However, we've seen Hive at 10 cents before and if the market takes a turn for the worst, how will you respond to Hive at 10 cents?
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@poshtoken is currently in its stake building phase, once the price of hive corrects upwards and all the things we are working towards are finetuned and released it will start moving into the next phase which will be marketing. Right now only a small percentage of its daily earnings go into buying up tokens. Depending on how much HBD and HP will go towards devs, all other stake it holds will most likely go towards buying up the token further to send "staking rewards" to POSH holders and NFT holders. There is currently over 35k POSH in the @poshtoken wallet that has been bought up for that purpose.
Driving the price up will hopefully work as a marketing scheme that will incentivize more people to participate in sharing Hive content onto twitter to earn POSH which ultimately makes it harder to earn thus less sell pressure. That being said make sure there's no funny business happening on twitter as abusers will get banned from earning posh as we have had to do a few times in the past so far.
Looking forward to the marketing. That is definitely going to blow up the price. I hope the market stays fucked for a couple more weeks, so I can put in more buy orders before the FOMO kicks in and I get priced out of the market lol
Can always delegate and compete for the daily 100 issuance, it's mostly @theycallmedan earning them right now but will be trying to delegate myself soon as well.
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Great to see. I just HODLed since the start. It is one of those occasions just hold and see where it goes.
A lot of potential. Glad I am along for the ride.
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I'm trying to get as much as I can into my wallet. Just placing a bunch of buy orders here and there Nothing serious.
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I am still holding all my POSH. Havent sold a one. I just simply hold, not even paying attention.
I figure there will be some use cases developed for it down the road. In the meantime, HODL to see where it goes.
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Sometimes is very good holdinh some good HE tokens. You never can tell things might change for those tokens
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Yeah. Splinterlands was the shit for me
Awesome read. I have been earning POSH tokens by seemingly sharing my articles on Twitter, I never knew it could be bought. A project that has @acidyo in it, is a project I trust.
I don't care about Hive getting to 10 cents(which is highly difficult), just keeping publishing and engaging within the community. And if I have spare money then, I will buy Hive, I missed the last chance when it was 6 to 9 cents, not going to make same mistake. The future of Hive is very bright.
Great article @belemo