Sit Tight - April Market Report

Stefan Erben | CryptoExplorer Author

In this report, we will take a look at the current market and the impact on our shared portfolio.

Welcome to the monthly market report for March 2023, this report includes updates on the portfolio, its performance and an update on new orders.

I noticed that you guys are really only concerned with the portfolio updates, which is why I'm going to make this a little shorter all around. Also, I communicate with most of you more via DMs than the actual chat or forum. Please feel free to ask the questions in the chat so others can benefit from the answers as well.

Updates regarding PLU

I want to share my thoughts on Pluton (PLU), which is currently the second-largest position in my portfolio. Plutus, the company behind the crypto card and the connected Token PLU, recently announced a promotional campaign that I believe presents a promising investment opportunity.

In my opinion, most people will upgrade their staking levels during the promotional campaign, with many choosing to go from 0 to 250 PLU or from 250 to 500 PLU. Based on my calculations, if the average price of PLU is $8, someone investing $2,000 for 250 PLU at $8 per PLU could profit from the promotional campaign.

The promotional campaign offers investors $100 in PLU if they increase their staking level. However, after analyzing the average amount of PLU needed for people to upgrade, I calculated that the bonus offered by the promotional campaign is equivalent to a 5% return on investment.

While the promotional campaign is expected to drive up the price of PLU, there is a possibility that the price may decrease once the campaign ends. In my opinion, this is a risk that investors need to consider. Therefore, I would advise investors to realize their rewards sooner rather than later to avoid any potential price drops.

Furthermore, I am concerned that the planned difficulty adjustments may make it difficult for the average investor to reach higher staking levels. As a result, I think it's wise to play it safe and realize most of the rewards generated from the Plutus Crypto Card.

Overall, I will realize my PLU rewards. You can find the orders below.

Portfolio updates

As mentioned earlier, I would like to get rid of some of the existing PLU rewards. Also, since we still have BID (for a year now, I've already written it off as dead), we received their BISC airdrop. For whatever reason, they have now started working on the product, but it seems to be going in a different direction. It all looks a bit fishy, and I have a feeling that legal action is being taken in the background.

Well, I am still not a fan of ICOs and risky investments, but from time to time you can play with a small amount. As you can see in the transaction summary below, the portfolio received a $16 BISC airdrop -Neglectable. However, the monthly PLU rewards are already making their presence felt.

Old orders

2 Sell Limit Orders for $PLU cancelled
- Sell 10 $PLU @ 10.099 $USD
- Sell 5 PLU @ 10.97 USDT
- Sell 5 PLU @ 11.97 USDT
- Sell 5 PLU @ 14.97 USDT
- Sell 5 PLU @ 15.97 USDT
- ❌ Sell 5 PLU @ 18.97 USDT (Cancelled)
- ❌ Sell 5 PLU @ 22.97 USDT (Cancelled)

New orders

6 new Sell Limit Orders for $PLU
- Sell 5 PLU @ 8.95 USDT
- Sell 5 PLU @ 9.10 USDT
- Sell 5 PLU @ 9.25 USDT
- Sell 5 PLU @ 9.45 USDT
- Sell 5 PLU @ 9.75 USDT
- Sell 5 PLU @ 9.95 USDT

Latest transactions

Current state of the portfolio

The shared portfolio now sits at 12,770 USD 🔥

Below you find the current portfolio pie chart.

Since the start of the portfolio in April 2022, we’re up 27%, while the market is down (BTC -55%, Top20 -72%).

Summary

The markets are rough and the financial system stands on shaky legs, but crypto is doing well in this environment. The real goal of Bitcoin is that it is made for when the banks collapse.

I hope you have found this market update to be informative and useful. If you have any questions or concerns, please don't hesitate to reach out.

Stay safe and happy investing!

Stefan

Categories: Report

* The content in this report is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Always do your own research! Nothing contained in this video constitutes a solicitation, recommendation, endorsement, or offer by CryptoExplorer or any third-party service provider to buy or sell any digital assets or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.