Monday, February 12, 2024

2024-02-11 ETHBTC-THANG! day 259

Let's do the ETHBTC-THANG!

I read the $ADA-price from @Indigo_protocol, the $SNEK-price from @MinswapDEX, and the { $ETH, $BTC }-prices from @Levana_protocol.






The EMA20 indicators for the { $ETH, $BTC } <-> $ADA-swap, either way, are too close to call, so I do nothing here. 

ADA-arb

Just because there's no $ADA <-> { $ETH, $BTC }-swap today doesn't mean I'm done with @Cardano today.

Look at the EMA20s for { $ADA, $SNEK, $USD }.






We have a BUY for $SNEK using $ADA. I execute a trade on @MinswapDEX: the aim is to arb $ADA with $SNEK as the pivot-asset.

After I successfully arb $ADA with $SNEK, I'll make a video-tutorial on HOWTO do that arb.

Why is $ADA important to me? Does it have intrinsic worth? Meh, not yet

But It is the medium of exchange on @Cardano which I use to BUIDL my { $iETH, $iBTC }-bags. That's its value to me.

There is a major, MAJOR, Major, major drawback of the @Cardano blockchain: tx fees.




  • @avax fees: 18¢-per
  • @TeamKujira fees: 2¢-per
  • ... @Cardano fees: $1.43-per

What the...???

@Cardano: a request. Reduce your fees-per-transaction to 1/10th of what they are now, ... please?

... nothing further today. I looked at an ETH <-> BTC swap from liquidity I sold to KUJI, but the results were inconclusive.

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