₦airaland Forum

Tyche:
What tested and trusted, interest yielding platform do you recommend?

I use a mix of centralised/decebtralised platforms.

Centralised exchanges like binaz and kraken offer good rates on some tokens

For centralised savings platform, nexo offers sensible rates with an inbuilt exchange. Also, the nexo token has held up well.
For decentralised savings, some are coin specific.. e g terra station for luna related activities...
Aave and Beefy for AVAX

OffsahBoye:
Most alyts are back to or almost where they were when btcee was at 39k

Wahala tie rapper

Alt coins= retail sentiment

Tyche:
Constant portfolio rebalancing is an often neglected concept if you desire a stellar PnL in this game. This is arguably, a narrative driven game and that narrative changes constantly. Consequently, the market will leave you behind if your view of the game is stagnant, same as your portfolio.

This concept, negates the idea of holding. Make no mistake, holding is one of the easiest route to hammer in crypto, but the idea of holding is worthless, 90% of the time, once the coin exceed a certain market cap. The exception is of you bought very early or you are playing for capital preservation.

If your motivation is constant 5x plays or more, then dex is your friend.

Rebalance
DEX

Makes sense... do most of mine by swapping between certain coyns... can be good when being done on an interest yielding platform

JavaSQL:
When I see CBN offering 7 to 8 percent on Savings bond, and 13 percent on FgN bonds, it seems funny.

Real time Inflation has hit 50 percent and they keep offering peanut interest rates, you're better off stocking bags of rice, beverages etc with that money than give it to the government at thesz terrible rates. Dollar is already N600 by year end na like N780, that will be total wipeout of anything denominated in Naira cash investment.

The CBN using the naira to chase the dollar would only compound the issue in the longterm if nothing is done in real terms to prop up the economy.
Also, the extra naira being used to prop up the interest rates would need to come from somewhere. If that extra naira is printed just for that purpose, then it may make things worse in the future.

Too tired to share charts... but from the monthly closes, these are my focus...
Luna...sol....eth...avax.... hnt.... harmony

Hopefully, most can reach ATH and those already in price discovery power thru....

Worthy of mention are Near and Atom.

JavaSQL:
The only ones who takes responsibility for all the mess are the words FGN and CBN, not the governor, not the finance minister. The words are just mere entities, when kasala bursts every investor will be on their own.

Finally, if it results in devaluation and more inflation, everyone will answer his name.
Regular Nigerians keeping savings in usd investments might do the nation more harm...but survival is a natural instinct. Those in power don't care

Natasha2:
It seem to have good functionalities with low supply.
I remember it was making rave sometime early this year on this thread, I thought about it again just wondering if it would be a good buy

If you see alpha in it, then why not... but then, a coyn being popular or people mentioning it might not be a good reason to buy all by itself....
Personally, If I was to delve in, I'd like to know what functionality the coin provides. Also what sets it apart from the rest. What are its driving demand factors... also its inflation rate.....

To take things further... borrowing at high rates to pay subsudies.... hehe..
Reason why I wouldn't blame any individual trying to safeguard their investment in a legal way

In another news.... the latest eurobond offering was oversubscribed to the tune of 200% causing a rate reduction from 8.7 to 8.3. Of course the DMO will attribute this to 'invesor confidence' which is untrue. If the effective rate was much lower, I'd agree. The DMO needs to look into whoever is advising them on rates. A 0.5% rate drop would save the nation tens of millions in forex
I'm no economist but commonsense dictates that if I'm spending over 2/3rd of my income to pay old debts, any new debt I'm taking should be at the lowest rate possible.

Closely following the breakout gang....

I haven't traded NEAR but as Ibime noted, this wants ATH... if it hits, I'd target a retrace at 15usd to ride into price discovery...

I no dey like resistance

emmanuelewumi:
Dig deeper, some businesses have been having earnings growth of over 20% annualized in the last 5 years.

I know a few who have but like I said they are few and far between or largely operate in an inefficient market.
My issue with devaluation is not about me personally as I've well insulated myself. It's about hapless Nigerians who are being impoverished by the day.

In other news.... no one knows what the cbn was looking to establish with the enaira.
So far, its gern a waste of money

pizapato:
Over the last 3 years, the naira has consistently lost about 20% of its value per year

Jan 2020: 1$ = #360 | Dec 2020: 1$ = #460
Jan 2021: 1$ = #470 | Dec 2021: 1$ = #560
Jan 2022: 1$ = #560 | Dec 2022: 1$ = #?

Currently dollars sells between 580-590, by the end of the year it might sell for 660 if the pattern continues.
Investing in dollar dominated asset at 5% per annum will give 25% return annually when you factor in devaluation.

Any investment in naira that is not returning minimum of 20% per annum is not worth it because of the possibility of naira losing beyond 20% of its value in that period.


Better to convert your money to dollar and hide it under your pillow

2020 and 2021 weren't great for the naira but then, some years are better than others.
All said, the crux of the matter for our leaders should be strengthening the local economy. If everyone converts their naira to the dollar, we would not have a country to enjoy the returns. Eitherway, in Nigeria, you need to protect your head first.

Reason why the eurobond offering by the government will be a good one for local investors who can tap into it.

emmanuelewumi:
Any Investment that combine the effects of a return of equity of 10%, earning growth of 15% will do that

There are not many local investments which offer that in a reliable and safe manner. Moreso one that is liquid enough. All these being tenable over a good period of time.

Over the last 7yrs, the gdp of the nation has largely been stagnant. Although there have veen some bright sparks in some sectors

Assurance20:
I must confess the Team has been performing well, the last hype was due to the launch of Hermes protocol (Metis Solidly), especially when Andre left Fantom, they seized the opportunity & some funds from Fantom moved into Metis(Andromeda) which was even confirm on-chain, the TVL in Starstreams(STARS) went over $250m within 2days of launch, but high APRS of the pools in STARS vault/big emission of Hermes caused continuous price dip of Hermes from over $1.5 to less than $0.2, most users suffered big loss, because no reason to continue in the liquidity pool, most funds left the ecosystem from this... However, there is a major news of Chainlink integration coming within a month & possibly Aave V3( don't know why it's delayed cus the proposal was voted & passed) if it happens, then it will pump hard, another pumpamentals is Vitalik's mother associated with the Team

I don't know much about it.. but like you mentioned, emission is usually a big issue with L2. Another is low utility... reason why when I'm bullish on a L2, I also want to hold the L1 while I ride the hype on the L2

Assurance20:
Metis is a good L2 coin, though it has been underperforming during this recent bull trend, the community are a bit angry/disappointed with the update on Jonah, CMO going to prison for domestic violence with his ex-wife, allegations that the main Team was aware yet they turned a blind eye to the issue & still employed him & made him a active Team member...

Ok... but aside that... any other reason why its underperformed? I.e inflation, utility, network growth..
As an L2, what sets is apart from others?
I'm usually not keen on L2s except few which offer a significant value proposition..... i.e are really doing something different

Taystee:
I'd be buying below 50MA, I'll take profit at $117.

Roughly alighs to my targets... this is just for compounding and would be using roughly 10% of my port...
wouldn't want to fade its trend too much... The bigger gains come in riding tge macro trend

Ibime:
What makes you say so boss?

It's struggled to get above its weekly support. Eventhough its a meme coyn and could shoot out anytime, at a mcap of over 15b, it should respect some structure....

Its monthly doesn't look great either.....
Personally, I'd want to focus on early runners with an established trend

All said,, it looks to be making a second rounded bottom which should be a good risk-reward but the trend isn't established yet

Natasha2:
Good evening Jedisco. Thank you for this update

Please I would like to know your thoughts on Métis? Is it a good buy presently or do you think it might retrace?

It's not a coin I track. Why are you interested in it?

jedisco:
Follow who don see road

Breakout boys.... slow and steady... Terra luna.... ...

Might sell at 120 to buy back at 110....

If there's a good enough pullback, I'd increase my exposure via a measured long...

Follow who don see road

Breakout boys.... slow and steady... Terra luna.... ...

Ibime:
SHib is gearing up for another move if BTC doesn't wreck things

Feel a macro low is in but still far from confirmed... I'd play it easy and allocate when the trend is confirmed

pizapato:
By now people should know holding USD is an investment. If you can put the USD into secured investment that brings returns, it is even better.
Nigeria is struggling to get Forex. Tony Elumelu recent post on Twitter shows that intense bunkering makes it impossible for Nigeria to profit from the current price of crude because lots of the crude produced is stolen.
The high price of crude also mean more subsidy needs to be paid. That's what has driven the cost of diesel and petrol up.
If the cost of crude remains above $100 throughout the year, by the end of the year, dollar could easily exchange 650

People should be holding at least 50% USD and 50% naira now

Stumbled upon this...

The dollar is also a moving target. If the current usd inflation rate of 7.5% continues, 100 usd today would be worth 50usd in 10 years. (rule of 70)

Sad enough, same dollar is still gaining 10% over the naira every year. i.e, it takes 7 years for the naira to lose 50% of its value against the dollar.

If you combine both, you see how much value the naira is sadly loosing in real terms.

Like you said, the real alpha for a Nigerian comes with investing to beat the inflation rate of the dollar. That way, one will be looking at at least 18% appreciation per annum in naira value of investments.

Interesting that 7 years ago, the forex allowance was 50k per year for each bank card per year.... Today, it's down to zero and still the naira has not appreciated...

This typifies the forex scarcity.... lets see how the coming years unfold

skydiver01:
Today's NTB Auction Results.

Rates have been more sensible... the fine line the cbn has to tow is balancing the rates such that folks still see it profitable enough to keep money in the economy while not putting too much pressure on governments revenue used to service debts..

What is more important on the other hand is the cost of foreign loans, the DMO has miscalculated on that and not done enough to push rates down

nna777:
Who remember this post?
Bake is baking up

Hehe... nice pump... so far rejecting against resistance on the bnb pair....

Eitherway, I no dey like hold defi coyns waiting for once in a year pump... best I just hold the L1 and look for opportunities when they come

MssRose:
I took this trade, and DCA when it dipped more, now I'm smiling as I gradually take profit. Thanks for the call

Special thanks to @jedisco, @Ibime, @Openheaven and others that share useful information selflessly you guys make learning this stuff easier
My watchword is this, If I can be happy with 10% on treasury bill for one full year why then I don't need to over trade to make gains here.
I took my time to read you guys contribution and I entered the market at the right time.
Thanks y'all


Please someone should teach us newbies more tips to do your own research DYOR. like website to read, or YouTube videos to watch etc

Good mindset.... I've never seen anyone whise target was 10% a year that had problems trading bitc0in.... when you look at the market adoption and profitability of bitc0in, you filter out most of the noise... Good thing room for growth is still immense

End of month...
Harmony one...
One reason I like this coin is cos it's easy to trade within a range. Moreso, it has intense rallies and steep pullbacks...

Two charts... usdt snd betece....

Against usdt, it got a good green monthly close, though not a very strong one as there's still some upside wick.

Against betece, looks like it could push up but that very ugly monthly wick still bears heavy.

In summary, this could be a good one to play against the usd pair... while a wick inyo the monthly support at 0.13 could still happen, whats more probable is a push-up into the highs yo play with previous resistance

jedisco:
Welcome to March... This happens to be the months when many people believe the bitc0in will nuke...

Jan and Feb were indeed key... I believe March would provide a confirmation of a chosen trend...

Still on this.... a scenario I'd like to see is perhaps another dip below 40k, and then a subsequent rally into a strong monthly finish giving a candle similar to that of july last year (arrowed) that resulted in the rally to 69k.... All said, the monthly charts take out much noise.... lets see how March goes

This aged nicely... Jan/Feb was indeed where the battles was fought. March provided a confirmation.
We did get our dip and then a strongvmonthly close but not as strong as I'd have wanted. Eitherway, it seems a local bottom is in.
What we want to see this month is the monthly support and momentum push prices upward to even a stronger finish bearing in mind that sooner or later, we'd have a retest of the weekly support (not pictured)

Lessons: As always, bitc0ins immediate price action rarely follows the overwhelming majority. Alot though there'd be a selloff in March, but that gave ne confidence to think otherwise. If a selloff was to occur, it was more likely to occur in Feb ir Apr than in March. Loads was also said about the federal reserve tapering. I believe this affected the market but the time to sell was in November not February when fear was max. Reason why trading the news is much more than buying when the media says buy

Concerns: Alyts have got heated too quickly. A good alyt rally best cones after a sustained bitc0in move. Fact is, if we want our alyt season to be maintained, we need bitc0in to push ip and such some of the funds from alyts in the short-term.

santos123:
After what happened last year,I will not fomo again. GMT reach 100 dollars,I no go enter.

Hehe... lessons learned should be well applied...

I wouldn't bet ahainst a raging crowd neither would I fomo into such a pump....

Babalakin:
tempted to sell the bloody $Ape i bought at $17 to go into this GMT .was hoping to jump in at 1.9$

You could keep jumping from top to top until you blow your account

Hamzashaf99:
As Luna has broken ATH, any idea how far it may go?

How does one know how to TP for such coins?

Instinct, TA, PA, market outlook. There's no clear way of knowing....

When a major goes price discovery in a bull market, best is to let it ride until signs of weakness appear..

At Lunas market cap, I wouldn't expect 10x moves.... but I'm targeting 80- 100b market cap on it