Like every month, we update you on the status of our cryptocurrency investment. A meager investment of just 100 euros, made without resorting to the wise and advisable means of the accumulation plan, but still useful for understanding the dynamics of a constantly evolving market, especially for newbies in the sector like us. We broke up a month ago at the lowest point of our crypto adventure. The beginning of the war between Russia and Ukraine and the contemporary energy crisis had in fact dried up our assets up to the quota of 91 euros, with a decrease of about 10% compared to our initial investment.
As we hoped, the situation in the sector has definitely improved in recent weeks. Our account on Crypto.com also benefited from the virtuous mechanism that was created, and we were therefore able to go back above the amount we paid. Will we be able to achieve our stated goal, which is to earn a small amount with which to pay for an equally small vacation? We do not lose hope.
Our cryptocurrency investment: where we left off
We were left with the situation you can see above, to which we applied the rule we set ourselves at the beginning of this experiment: at least one movement every month. We therefore liquidated our position on Terra (LUNA) to position ourselves on Polygon (MATIC), with a figure of 6.95 euros net of the fees of the platform that hosts us. To this is added another small share of Cronos, the cryptocurrency owned by Crypto.com itself, deriving from the platform’s rewards program, aimed at incentivizing users to log in to their account and make movements. As we mentioned earlier, the situation has definitely improved.
Signs of recovery
The two most well-known cryptocurrencies on which we based our investment, namely Bitcoin and Ethereum, were driving our rise. While the gain compared to last month is evident, it is interesting to note that both cryptocurrencies are still below their respective initial investment quotas, equal to 40 euros for each. This shows us that there is still ample room for growth and at the same time reassures us on the other moves we have made, to which we obviously owe all our small temporary gain. It is also important to point out the substantial stagnation of the prices of The Sandbox and of Polygon itself, on which we continue to focus for the near future.
Our moves
Since we want to respect the rule of the minimum of one monthly movement that we have given ourselves, for the first time we are therefore forced to close our position at a loss, albeit a slight one. Reluctantly, we therefore decide to sell Polkadot, which we had chosen for its low energy consumption, but which at least for the moment has not had the growth we were hoping for. We therefore sell 4.6 euros of Polkadot (compared to 5.3 euros of initial positioning), which we invest in Jasmy, coin landed on Crypto.com just a few months ago, but already strong from a partnership with a company of the caliber of Toyota. Will we have done well? See you next month to find out.