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Disclaimer: Nothing in this report constitutes investment advice—I am just reporting on my accounts and its progress on each platform. You should not use this report to make financial decisions. I recommend you seek professional advice from someone who is authorized to provide investment advice.
Hey everyone and welcome to the HODLer’s Den!
Here you will find information on my crypto investment portfolio straight from a HODLer’s perspective. This section will focus on HODLing cryptos and interest-earning platforms.
Celsius Network
CEL Utility
In recent AMAs, Mashinsky stated that Celsius Network (CN) did not focus much attention on CEL utility in 2021.
The CN team will shift attention back to CEL utility in 2022. So far 6 people within the CN team have been assigned to focus purely on CEL utility.
According to Mashinsky there are 500 initiatives in the pipeline to help bring more value to CEL.
Most recent achievement is that US accredited investors can now earn in CEL. This feature is already available to international users.
To become a US accredited investor you need to provide proof to CN. There are forms and applications that need to be completed.
Each week, CEL is burned which reduces the supply and help push prices higher. As more users choose to earn in CEL, the weekly burns will also be greater.
Swap | On-Ramp | Celsius X | Credit Card
Celsius Network has been rolling out the in-app swap feature, starting with platinum users. I received an email notification a couple of weeks ago that I have access to the swap feature.
The plan is to continue the roll out to 10,000 users each week.
The current swap limit is 50,000 USD per day.
Make sure you have completed KYC and the most updated Celsius Network app if you want to use this feature.
Celsius Network wants to become the best place for swap because of low fees. It also holds a lot of assets which should provide low spreads and high liquidity.
Both the on-ramp feature and the credit card have been pushed back. Although, they are testing these features internally with employees.
Celsius X, the DeFi branch of CN, is expected to launch on February 2022. Mashinsky mentioned something about launching CEL’s own blockchain soon.
Miscellaneous Updates
Celsius Network is probably the only company that hosts weekly AMAs and is extremely transparent.
They provide updates on any delays and provide the reasons for said delays.
Its competitor, BlockFi, has been charging hidden fees in the form of large spreads when buying and selling crypto assets.
Mashinsky still has strong convictions in his Bitcoin (BTC) price of 140k to 160k USD per coin for 2022.
He stated that BTC will reach an all time high this year before correcting.
Mashinsky also stated that we are not in a crypto bear market and this is just the market reacting to the news in November and December 2021.
To date, CN has paid out over 1 billion USD to users.
Celsius Network invested 500 million USD into Bitcoin mining which also provides another source of revenue for the platform.
A goal in 2022 for CN is to expand into new countries and not just focus on North America.
AVAX (Avalanche) is now accepted in the CN wallet and earns over 7% APR.
Interest Earned
It has been 4 weeks since my last report on Celsius Network earnings and during that time my interest earnings lost over 3000 USD in value. You can monitor this Google Sheet where I track all my earnings from a variety of platforms and it gives percent changes. According to the spreadsheet, my total earnings decreased by 5% in 4 weeks.
Most of my assets are split among the four platforms that I use: Celsius Network, BlockFi, Bitrue, and Crypto.com. Both Bitcoin and Ethereum make up a nice portion of my portfolio and they have retraced quite a bit.
You can use the Interest Rate Tracker to find the best APR rates across several platforms to fit your HODLing needs.
BTC is currently at 43.2k USD, ETH is at 3354 USD, and CEL is at 3.17 USD as of writing this report.
Conclusion & Prospect
The crypto market made a slight recovery but is still far from its all time highs. As mentioned, Mashinsky still believes that BTC will hit 140k to 160k USD in 2022 unless some black swan event happens.
Celsius Network is one of the “safest” platform in CeFi because it is extremely transparent relative to competitors and holds a lot of capital. The weekly AMA answers many questions from users to put them at ease.
I am glad Celsius Network is turning its attention back to CEL and will be bringing more utility to CEL. The CEL burn is the only thing that is propping up CEL price and that needs to change. Since I am in the US and not accredited, I cannot earn in CEL. With CEL prices dipping, right now is the perfect time to earn in CEL if you can.
I have been HODLing with Celsius Network for over 3 years and I will continue to do so.
Each week I will report on a different interest-earning platform that I use—mainly, Celsius Network, Bitrue, Crypto.com, and BlockFi.
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What I Am Doing
This section is dedicated to paid subscribers as I will go into details of what moves I am making with my interest-earning portfolios.
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