My CENT Story in Time of Crypto Crash

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I just completed writing My ListNerds Weekly Report. This time, I want to share my journey with CENT, another layer two token built on Hive.

Though I have been on Hive since August last year, I think the first week of March was the real breakthrough for me since the day I realized the compounding character of Hive via the layer two tokens.

Many first things happened to me in the month of March: PUD, CUB, ListNerds, and joining a curation trail. 10th of March was the first time I wrote my first email on ListNerds. Two days earlier, I came to know CENT as a platform for economics content.

Five days after, I published my first post about CENT. There I mentioned how the issuer of CENT aimed to make it a stable layer two token pegged at $0.01.

I started with 217 staked tokens. On the 2nd of April, my stake grew to 4,852.60. Thirteen days after, I increased my stake again to 7,207.64. Then the last 2nd of May, I reached 8,2082.395. Today, after two weeks, finally, I reached my 10,000 goal.

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Supposedly, the value of 10,000 CENT is $100.00. But due to current negative sentiment in the crypto space, CENT too suffered a price decline.

A few days earlier, my CENT holdings dropped by 51.11% from $90.00 to $44.44. Though the token was intended to become a stable layer two token, it could not stop the selling pressure done by its holders.

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That is understandable. Though the market cap of this token is now just around $12,000.00, perhaps holders are either in need of cash to use elsewhere or they just want to protect the USD value of their portfolio.

However, with a small-cap layer two token like CENT, simply buying 5 tokens can easily recover its market price.

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Yesterday, I bought 140 CENTs.

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And then today, after sending $40.00 into my Hive account, I immediately bought 70 HIVE and utilized 8.92 of it to buy 526 CENTs.

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And so, my first goal towards a comparative analysis of layer two tokens in my list has been achieved. My next target is SPT, token rewarding blogging about Splinterlands on https://splintertalk.io as well as increasing your SPS airdrop. Once done with SPT, LEO and CTP will be next.

Grace and peace!

cent listnerds ctp leofinance spt someeofficial
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6 comments
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Wow congrats on that yummy cent stake you have there my friend. I am still at 1K, and I do hope that I can gain more from my post and also from my own hive and buy the cent. : )
10K looks yummy

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Thanks! Originally, my plan was 20k, but I reduced it to just 10k so I can start my experimental comparison. 😄

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Hello. Thanks for sharing. And we wish you success in your investment journey. We wanted to fix one thing: Cent management did not sell any Cent. On the contrary, we bought some from the Hive/Cent liquidity pool and added more liquidity to the Cent/CentG liquidity pool. During this period, Cent did not lose any value against Hive. However, with the Hive depreciating rapidly in a few days, Cent also lost value against the dollar. Cent is not an algorithmically stabilized token. Adjustments in the prize pool can be close to $0.01 with the strategies in the liquidity pool. This way it will take some time to adjust to the abnormal volatility change. However, do not consider the above mentioned as investment advice. Please spread the risk by diversifying your portfolio.

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That is good to know that the CENT management is doing its best to stabilize CENT's price. I understand the impact on CENT of the decline in the market price of HIVE. No problem with me. My concern now is for me to start my comparative analysis of the tokens in my list in terms of their monthly yield. The $100.00 micro-investment per token will be my starting point. I also wish the success of the CENT project.

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