June 2024 Crypto Chicken Report: SPS Going Cheap!
It's the rainy season here in Japan, and last night torrential rain fell on Hiroshima, causing the local Japan Rail network to shut down, and all my classes to be cancelled.
At least the Internet is working and a day at home gives me an opportunity to get this crypto report published more promptly than usual.
June was a rather subdued month on the crypto accumulation and online business fronts. The only exception was SPS... not that it is on fire or anything, simply that the downward trend in SPS price gives us an opportunity to hoover up some cheap tokens... and then some cheaper tokens, and then some even cheaper tokens!
How low is low? Clearly, this is not investment advice, and not really an option for the chickens, but if this 0-shaped investment egg ever hatches, I'll feel quite cocky. ;)
Are we near the bottom with SPS?
I don't know, but the team's focus on increasing the number of new players and improving their experience of the game gives me some confidence in the long-term viability of the game and therefore of SPS.
My SPS mantra is, "buy cheap, stake inside Splinterlands to earn 13.34% p/a, enjoy the game, and hope for the best!"
Slow Progress Up the HBD Freedom Ladder
I only added 56 HBD to my savings last month. I'm currently earning around 50 HBD a month in interest, so the bulk of my earnings came from the monthly interest. The rest came from content creation and curation rewards.
I didn't tip any Bitcoin earnings into my Hive account last month because I'm waiting for the next all time high. I was lucky enough to catch the previous all time high a couple of months ago, and I'm willing to wait for the next one, even if it slows down my short term climb up the HBD Freedom Ladder.
In short, I still expect to hit my 2024 target of 7,500 HBD!
What is the HBD Freedom Ladder?
See this post for my most recent update:
https://hive.blog/hive-167922/@hirohurl/i-reach-the-3rd-rung-of-the-hbd-freedom-ladder
Accumulating HBD and SPS are my two top goals for the rest of the year.
Here's the state of play for those and my other token targets at the halfway point of 2024:
| Crypto Asset | 1st January | 1st April | 3rd June | 1st July | 2024 Target |
|---|---|---|---|---|---|
| HIVE Power | 3,438 | 3,553 | 3,638 | 3,678 | 7,000 |
| HBD | 1,346 | 2,142 | 3,014 | 3,070 | 7,500 |
| Staked SPS | 6,449 | 8,669 | 9,167 | 10,357 | 15,000 |
| CTPSB | 252 | 275 | 276 | 276 | 750 |
| LEN | 1,234 | 1,477 | 1,261 | 965** | 3,500 |
| Staked LEO | 1,518 | 2,273 | 2,280 | 2,282 | 3,500 |
| BBH | 1,046 | 8,088 | 8,627 | 8,912 | 10,000 |
** Why Do I Have Fewer LEN?
My LEN holdings declined to 965 in June, 725 of which are in the LEN-LENM liquidity pool on Tribaldex.
There are two reasons for decline in my LEN holdings:
First of all, I swapped some LEN for LENM and staked the mining tokens:
Second, last month I began swapping my daily LEN earnings for SPS. I expect I will keep doing that until I hit my SPS target, or until SPS goes back above 1 cent per token, and then reassess the situation.
Bitcoin to the Rescue in Q3 and Q4 2024?
If Bitcoin goes bananas sometime later this year, then it should be relatively easy for me to hit all my Hive goals for 2024. Mind you, I will be tempted to focus solely on taking that opportunity to speed my way up the HBD Freedom Ladder!
All the best for the summer... and the longed for summer festivals, the cold beer and the grilled skewered chicken... after the gloomy rainy season is over...
Cheers!
David Hurley
#InspiredFocus
Posted Using InLeo Alpha
