Here’s How to Steadily Value-add Your Cryptos after Bitcoin Dipped

Share:

A fleeting rise was seen in both US stocks and Bitcoin market when The Federal Reserve announced 50 basis points increase in benchmark interest rate. However, a devastating blow hit shortly after — US stocks dipped even more than summer of 2020, and so did Bitcoin.

Bitcoin (BTC), the world’s largest cryptocurrency fell 10% in market capitalization; Bitcoin price hit 36,000 USD. This is the biggest price drop in two months.

Most altcoins are also severed, Solana’s governance token SOL and that of Avalanche, AVAX dropped around 10% in 24 hours; meme coins such as Dogecoin and SHIB dropped 5% and 7% respectively.

🌈Here’s a magic link in which registration is rewarded 5 Dogecoins

It’s worth noting that Bitcoin undersell is less extreme compared to previous dips, which indicates a further drop is possible. Technical indicators point to a further downside to the $30,000–32,000 support area as momentum wanes.

On the other hand, Luna Foundation Guard (LFG) sees opportunities in this dip. On Thursday, LFG reported it’s added $1.5 billion of BTC into its reserve.

The purchases were made through OTC, which included 1 billion TerraUSD (UST) in exchange for $1 billion worth of BTC. After that, LFG bought another $500 million worth of BTC. LFG holdings reached 80,394 Bitcoins after the new procurements, which are worth around 3 billion USD. LFG plans to accumulate to $10 billion worth of BTC in its reserve by the end of Q3.

For large companies and institutions, Bitcoin is always on the top of the list when it comes to cryptocurrency investment. However, Bitcoin’s high investment barrier makes it difficult to profit for individual investors, not to mention that the current cryptocurrency market suffers from great volatility (at least in a short term). Investing in Bitcoins without thorough research is no different from buying a lottery.

An easy way out

Despite the current adverse situation, there is in fact a way to grow crypto assets passively, steadily and easily — stablecoin asset management.

Stablecoin (such as USDT) price couples with that of US dollars, meaning that its price is stable as long as USD is. Its name has already revealed its stable nature.

In most cases, stablecoin asset management helps investors to earn stablecoin out of stablecoin, so there is zero chance of losing money. Many crypto service providers have stablecoin asset management on their shelves, but it’s worth noting that their return rates vary. E.g. Binance’s USDT fixed savings APY is 10% at the top, while the APY of LuckyHash’s new user exclusive savings account for USDT hits 65%.

Other than the new user exclusive products, LuckyHash also provides limited-time savings accounts for USDT from time to time, whose APY is as high as 18%, twice that of Binance. The third round of limited-time savings accounts is available at 10:00 A.M.on May 9th (GMT+8).

If you are interested in stable and passive cryptocurrency investment, you can check the details of LuckyHash time-limited savings accounts here. The highest return rate of USDT savings on the internet is at your fingertips.

— — — — — — — — — — — — — — — — — — — — — — — — — — — —

About LuckyHash

LuckyHash is the world’s leading one-stop crypto asset management platform. It provides pledge-free mining hashrate leasing and waranteed cryptocurrency interest-generating plans.

Website | Twitter | Facebook | Telegram | LinkedIn | YouTube

Register under this referral link to gain 5 free Dogecoins

👉Register here to receive 5 Dogecoins👈