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.
