Investing in Akash Network #AKT Token - My StrategyAhead...
Hey All,
Ok finally I decided to exit from Chihuahua ($HUAHUA) - The Cosmos Meme Coin and sold all the remaining 3+ Million $HUAHUA tokens to swap it for Akash Network #AKT Token. In order to do so I had to move #HUAHUA tokens to Osmosis chain and then swapped it for #AKT tokens. The swap got me around 671+ AKT tokens. Here is the snapshot of moving the tokens from Chihuahua chain to Osmosis
Swap of Chihuahua ($HUAHUA) to AKT....
The total investment that we are talking here is around $1.1K+ dollars. Today, Akash Network #AKT Token was down 7% and was trading around $1.60. Akash Chain has a marketcap of around $356+ Million and 24 hours trading volume is worth 4+ Million. The total supply of #AKT token is around 388+ Million which is a very thin supply - the token hit its all time high in Apr 06, 2021 (over 2 years) where it traded around $8.07 and currently is -80.03% from it all time high price - making it a decent at current levels. Lets delve into some basic understanding of Akash Network - is secured by a Proof-of-Stake (PoS) blockchain, and AKT is used to secure the network by staking. Staking AKT provides a passive income stream for stakers which currently if I am not mistaken the APR is above 8%. The staking increases the security of the network overall. The #AKT tokens holders
can also vote on proposals to improve the network and manage critical parameters such as inflation rate and take rates - so it acts as governance token of the chain as well. Here is the AKT Token Metrics in a nutshell::
One can easily buy #AKT from a decentralized exchange Osmosis. I did all my purchase from this DEX only and the plan ahead to at least have 1K+ #AKT tokens in the wallet. To be honest, I am not looking to stake these tokens at the moment as I am going to #HODL it for a shorter period of time and if in between if I am able to make 50% profit then I would be more happy to take the profit and move on - so investment here is for a short duration, lets see how long it take to get this much of a profit..until then its #BUILD & #HODL for the moment.. cheers
Have your say on - Akash Network #AKT Token...
Are you invested in Akash Network token #AKT? Howz your investing looking like and what is the plan ahead. Let me know your views in the comment section below..cheers
#akash #coins #akt #staking #defi #cloud #cloudcomputing #network
Investing in Akash Network #AKT Token - My Strategy Ahead...
Image Courtesy:: coingecko, osmosis, akash.network
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in Blockchain & Cryptos and have been investing in many emerging projects..cheers