2023-10-05 ETHBTC-THANG! Day 130

Now that I've done the ETHBTC-THANG! for

... [checks notes] ...

two days ago, ...

LET'S DO THE ETHBTC-THANG! (for today) (of course).

I record the prices for $ETH and $BTC from @osmosiszone onto my SPREADSHEETSZORXEN! 

Like the last report, this report says "swap $BTC," and not only that, but "swap a lot of it!" The ratio is the lowest it's been in more than 4 months, making $BTC overpriced vis-à-vis the underpriced $ETH.

$ETH is a steal rn.

BUT! I have no $BTC to swap, so I swap nothing. 😭

I do, however, put in my spare $ETH in a 12xLONG position on @Levana_protocol, which, fortunately, allow one to open multiple long or short positions at the same time.

Convenient when one long is ailing, and prospects look 'good'? maybe?

We shall see. Take-profit at 0.12 $ETH

2023-10-05 ETHBTC-THANG! Day 130

The ETHBTC-THANG! 

• swap 0.00734 $BTC

After swap:

ETH: 6.60080 BTC: 0.0000

Total: $10,646.59 TVL EMA-20: $9,874.64

n.b.: TVL EMA-20 indicates that ETHBTC, itself, is overvalued.

ROI: 3.01% APR: 8.45%

I think that 'betting' that $ETH will go up as a certainty is a bad idea. I'm doing the 12xLONG this time, but the risk is there, and I don't see the future perfectly. I have a lot of $ETH at risk for this 'no-risk' ETHBTC-swap-THANG!

I hope I win, this time.

Update/Results

Boom! Another trade in the green on @Levana_protocol #dragonperps 💰🐉

 

2023-10-05 entry: 12.5xLONG 0.7336 $ETH @ $1,622.64

2023-10-06 exit: 0.8438 $ETH @ $1,648.50

ROI: 14.67% 

5354.01% APR

But let's not do this any more for the ETHBTC-THANG, okay?

What I DO do, ... 

eheh: 'do-do' 😅

... is I open a new SHORT position, protecting against a backslide in price.

• 2023-10-06 entry: 3xSHORT 0.5 $ETH @ $1,647.74

I have a 10xLONG and have funded the $ETH LP supply, so I have the long-side already covered on @Levana_protocol