SNX Finding a floor; The sky is the limit
Updated
As always, this is not financial advice. This is simply what I am doing.
It looks like the recent bear action has been especially unkind to Synthetix Network Tokens (SNX). But today is starting to look like it is establishing a floor last seen in June. I am still long on SNX as I believe in the team, the platform, the idea of free trading of derivatives across a spectrum of asset classes without a broker, and the scarcity of the token. Whether it feels like we are winning right now or not, it is a winning combination.
On a separate note:
How can I be so calm when I entered my SNX position at $9.88? We are sitting below $6.
My SNX token count has climbed to over 2,892 SNX. I have added almost 127 SNX tokens since 31 July 2021 when I moved my tokens to the Celsius Network. Every Monday, I receive an ever-increasing reward of SNX tokens in my account when they pay me a portion of the 13.99% APY interest. Yesterday, it was 7.275 SNX added. Next week, those tokens will be included when they count my interest up...and it will be just a little more than that 7.275. At this rate, my total token count doubles every 5 years. That is the power of compounding, baby!
So, if you bought in higher, let your token chill at Celsius Network and start earning you some serious interest. The price will rebound and more. Because of the updates and launch to Synthetix mainnet, I expect January thru February to be an absolute parabolic run for SNX!
If you don't own it yet, BUY some now!!!
After all, it is a quality item at a severe discount. That is how you make real money!
Sidenote: If you want my reference code to earn us both $50 worth of BTC for opening an account at Celsius, just ask me. TradingView does not want me advertising my referral code.
Good Luck! --Garry
;)
It looks like the recent bear action has been especially unkind to Synthetix Network Tokens (SNX). But today is starting to look like it is establishing a floor last seen in June. I am still long on SNX as I believe in the team, the platform, the idea of free trading of derivatives across a spectrum of asset classes without a broker, and the scarcity of the token. Whether it feels like we are winning right now or not, it is a winning combination.
On a separate note:
How can I be so calm when I entered my SNX position at $9.88? We are sitting below $6.
My SNX token count has climbed to over 2,892 SNX. I have added almost 127 SNX tokens since 31 July 2021 when I moved my tokens to the Celsius Network. Every Monday, I receive an ever-increasing reward of SNX tokens in my account when they pay me a portion of the 13.99% APY interest. Yesterday, it was 7.275 SNX added. Next week, those tokens will be included when they count my interest up...and it will be just a little more than that 7.275. At this rate, my total token count doubles every 5 years. That is the power of compounding, baby!
So, if you bought in higher, let your token chill at Celsius Network and start earning you some serious interest. The price will rebound and more. Because of the updates and launch to Synthetix mainnet, I expect January thru February to be an absolute parabolic run for SNX!
If you don't own it yet, BUY some now!!!
After all, it is a quality item at a severe discount. That is how you make real money!
Sidenote: If you want my reference code to earn us both $50 worth of BTC for opening an account at Celsius, just ask me. TradingView does not want me advertising my referral code.
Good Luck! --Garry
;)
Note
UPDATE: Celsius is encouraging more "hodling" in SNX by increasing the interest rate this past week to a staggering 14.05% just for holding your SNX in a Celsius Network account. You don't have to stake, no delegating or validating, no paying high gas fees on some swap defi exchange... no hassle at all. And my SNX token count continues to grow!
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