Low Crypto Volumes | DeFi Journey #3

This week I claimed $22.69 in fees, a noticeable drop of over 50% compared to last week due to lower trading volume across the crypto markets. Despite this, my four concentrated liquidity positions (CLPs) have remained in range for three weeks straight. No rebalancing has been needed, even as BTC and ETH continue to swing in a bearish market. We saw some bullish movement this past week with ETH breaking $2k and BTC breaking past $86k, only mean reverse. I broke down some of the news impacting these moves in my SPS technical analysis review.

CLP - ETH/USDT - PancakeSwap, Binance Smart Chain

My ETH/USDT CLP on PancakeSwap, with a range set between $1698 and $2997, stayed in range all week despite ETH's volatility. I farmed $9.95 this week, bringing total rewards to $152. The deposit started at $2213.00, with the current value now at $1426.17. The yearly APR is 49.51%. I'm converting this week's rewards to ETH to increase my USDC/cbBTC position.

• In-Range: ✅
• Range Setup: $1698 - $2997 (56.8% wide)
• Rewards Farmed This Week: $9.95
• Total Rewards: $152
• Total Deposits: $2213.00
• Current Value: $1426.17
• Yearly APR: 49.51%
• Price Difference (Inc. Fees): -$634.83 (-28.69%)

CLP - WETH/USDC - Aerodrome Finance, Base

My ETH/USDC position on Base, with a range set between $1706 to $3108, also stayed in range for the full week. I earned $7.22 this week, pushing total rewards to $152.33. Starting with a $1663.40 deposit, the current value is $1066.42. The yearly APR is 65.79%. These rewards will also be converted to ETH to grow my USDC/cbBTC position.

• In-Range: ✅
• Range Setup: $1706 - $3108 (60% wide)
• Rewards Farmed This Week: $7.22
• Total Rewards: $152.33
• Total Deposits: $1663.40
• Current Value: $1066.42
• Yearly APR: 65.79%
• Price Difference (Inc. Fees): -$444.65 (-26.73%)

CLP - SOL/USDC - Orca, Solana

My SOL/USDC position on Orca, with a range set between $97 and $180, continues to deliver. I earned $4.94 this week, bringing my total rewards to $49.16. The deposit is now $866.80 after increasing it slightly, with a current value of $704. The yearly APR is 68.66%, with a price difference, including fees, of -$113.04 (-13.04%) compared to holding. I'm using these earnings to push this position toward my $1,500 target.

• In-Range: ✅
• Range Setup: $97 - $180 (59.4% wide)
• Rewards Farmed This Week: $4.94
• Total Rewards: $49.16
• Total Deposits: $866.80
• Current Value: $704.60
• Yearly APR: 68.66%
• Price Difference (Inc. Fees): -$113.04 (-13.04%)

CLP - USDC/cbBTC - Aerodrome Finance, Base

My USDC/cbBTC CLP on Base, with a range set between $70604 to $100190, is my only CLP position in profit. I farmed $0.58 this week, with total rewards at $2.04. After adding funds (from other CLP positions -- flywheel effect), the deposit increased to $116.88, with a current value of $115.96. The yearly APR is 29.69%, and I'll continue growing this position with earnings from other CLPs.

• In-Range: ✅
• Range Setup: $70604 - $100190 (35% wide)
• Rewards Farmed This Week: $0.58
• Total Rewards: $2.04
• Total Deposits: $116.88
• Current Value: $115.96
• Yearly APR: 29.69%
• Price Difference (Inc. Fees): $1.22 (1.04%)

Concluding Thoughts

After seven weeks of DeFi, my total deposits across all positions are $4860.08, with a current portfolio value of $3313.09. Despite lower fees due to reduced crypto market volumes, staying in range for three weeks has kept my strategy intact. I'm learning as I go, and this journey is all about building long-term cash flow for my HODLs.

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