Sold my UTOPIS and wondering about LEO.
Sold my UTOPIS and wondering about LEO.
There was a time when so many projects were running in Hive-Engine and everyone was promising better returns than investing in Hive. So many projects actually delivered the better returns than Hive, but look like it was just a hype and returns were not sustainable. Even those returns were not sustainable, I will be happy to see those project live, building something each day and able to return some type of return to their investors, but instead they got shut down and caused the total loss of capital to their investor. With the latest BRO/BROFUND becoming rogue, I guess most of the trust is eroded in Hive-Engine projects.
UTOPSIS was started with Chronocrypto and I guess in peak, it was traded above of 4 SWAP.HIVE per utopis. I have no idea what exactly happened but dividend stop coming. I had already invested for more than 400+ UTOPIS. So I guess, it was close to 1600 Hive investment.
Tough even the projects has not so much updates, I have kept my UTOPIS. Just checking the Hive-Engine, it look like there was activity happening on the UTOPIS market and I checked @chronocrypto posts and it look like, he is buying the UTOPIS and sending them to null. I sold my UTOPIS close to 1 SWAP.HIVE (0.99998989 SWAP.HIVE) and all my 400+ UTOPIS got sold (or purchased by Chronocryto.
It is still loss of more than 1000+ Hive and significant amount of time but it is still good to get something, specially when I concentrating too much on increasing my Hive power.
And the LEO monitoring.
A month ago, LEO was trading for almost 1 SWAP.HIVE per LEO, with Hive price went down from 13 cents to close to 11 cents now. On top of it LEO price is now below .80 Hive, so LEO is currently trading below 9 cents. So from 13 cents it went down to 9 cents, so it almost lost more than 30% of it's marketcap. So I am feeling that LEO has now not much demand (apart from Leostrategy buying). All the claims of $1 to $10 soon are still very far away.
In this downtrend, the positive thing I witness in Hive-Engine that it has healthy volume of over $1000 in a day.
With Bitcoin price crashed, HBD is losing peg multiple times in a day, Hive is trading close to its lowest mark, I am feeling uncertainty in the crypto markets. I wish all the best and will advice to be cautious.
Posted Using INLEO
Zoom out to see LEO is up 6x this year while most coins are down 50% or more
In June, LEO 2.0 signified a total change to the LEO economy
LEO is now deflationary from bridging revenue and has 0 inflation. Rewards are paid using buybacks of the token from Premium, ads, LeoDex, etc revenues
Are you publishing these reports transparently?
It reminds me that I should unstake my UTOPIS. Once it is done, I'll sell it off to the market. I don't think the loss was as large as you thought it was because UTOPIS did pay out some dividends when it was running. It's probably still a loss though.
not a huge loss, unlike others.
Yea. The dividends offset some of the loss, and you are still buying back the tokens. So it's better than alot of the projects that just died.
Unfortunate for me that issues happened within 10-15 days of my buying. But anyways I am happy to get back 25% of value. There are many projects that had eroded more than 99% so atleast I get 25x more on this failed project compared to other.
Sad to hear about your UTOPIS. Sadly the different products on HIVE were working at cross purposes assuring that all the Hive-Engine based products would under perform.
I've been cost averaging down on my he holdings. I now have millions upon millions of questionable coins. I really don't want to see how much HIVE I lost.
I hope you have some successful projects in your portfolio.
!WINE
I feel your perspective on this and I too lowered my Hive-Engine holdings besides LEO. And for LEO with all that is done I don't understand why the price is not increasing. Maybe there are still weak hands or something, will hold a bit more over that and watch the space.
With all the series of failed launch, it make me now skeptical towards LEO. On other words , I guess it is not disclosed who owns Leostrategy and I have not still understood the use/necessity of the tokens that Leostrategy is creating.
I don't know about UTOPIS, but recently BRO has been a scam project where the founder cheated the community. I still expect a lot from LEO because it looks like a good team, and founder Khal is doing well to bring more value to LEO
UTOPIS started around same period when BRO fund started. It is really sad to see BRO to do rugpull after such a long stint. But on side note ,I think BRO investors might already have recouped the investment if they are from start.
I didn't know that UTOPIS is still around... Nice to see from Chronocrypto buying back tokens... Not many token creators would do that...
Well said, Chrono is buying the token to officially shut it down is a positive step.
Not going to sugar coat this. It never hurts to sell some to get back principal. It’s a difficult crypto market. I would have thought ecosystems like Hive lasting for so long would hold some value but nope. Stay strong and stay vested without risking what you can’t afford to lose.
I have also no idea why Hive is so disappointing in term of token prices.
You're beastin on some posts bro. Its a good time to get some in. Thanks for your support, I need to moderate my voting power, otherwise I'd go higher, but I gotnur back man. Keep rockin for real, we gonna make funds back little at a time.
Thanks Friend, Just asking , are you aware of Hardfork 28. It is changing how voting power and voting mana is getting used.
Yes brother, I did see. I didn't see all details, but yes, aware of voting change. Sounds like pros/cons, not sure if it will benefit me or not.