The COTI stake on KuCoin is earning just under 180 COTI daily which is about 50 COTI less than what was being earned on the COTI Treasury. I am not overly happy about the Treasury going on pause but also see the upside which is the COTI price and they being the team need to maximise the opportunities available for now. Use cases will bring demand and expanding the COTI eco system is where the value is going to come from so forget the hype and pumps associated with crypto and rather build genuine value.
With any crypto investment you want to be early and have the crowd come to you instead of following the crowd and this is what is playing out here. There is such a large upside building ones stake has to be the priority even if it means it is on a centralised exchange.
The 18% APR was a COTI promotion for 30 days and expires on the 11th September and the hope is this will be extended. I am sure there has been a budget allocated for this and I am sure many di not take up this staking offer plus many could not due to not being able to access KuCoin if they were in the USA or the EU. This does suck and why I was initially hesitant to stake on KuCoin as I was in two minds what to do with the stake. The rewards do help, but there are other ways of growing the bags without the APR. The APR definitely helps give the growth a boost, but depending on what happens in the next couple of weeks I may move all of this to a cold wallet instead which is far safer.
The targets still remain the same for the long term with 400K COTI being the next big milestone sometime this year and then onto 500K which should be big enough by then. I have been tempted to start growing a LINK and AVAX bag and will probably do this alongside COTI.
We have no real idea where we are in the current cycle so growing the portfolio has to be the main focus for now until things change. I have been listening to certain podcasts over the last few months and there are some interesting views on why we never really had a Bull cycle like we have seen previously. The thought is many moved their wealth out of Bitcoin into the likes of gold and other shares which would also include SpaceX. Maybe there is some truth to that except this does not really help the altcoin market or change things.
Will we see an extended green period in altcoins coming up this year or will we have to be patient until next year or possible the year after? There is no rush and why growing the bags is the priority to capitalise on when things do change. Until that happens the chance of reaching 500K COTI is beyond the original expectations and will do my utmost to make that happen.
A Quick COTI Update
I am no developer so this is all gibberish to me except I know privacy on demand is coming to Avalanche and this is imminent within the next couple of weeks coinciding with the Avalanche meeting in New York. Any roll out of tech especially being privacy is good news for everyone in crypto.
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