Crypto Portfolio Update

It has been about 3 months since the collapse of Terra Luna and the entire crypto market in general. Of course my crypto portfolio wasn't spared either.

To make things worse, I was doing yield farming on decentralized finance and the blockchain where I was farming on got their bridge hacked.

The bridge is essentially a protocol connecting two blockchains to enable interactions between different blockchains. This hack basically caused more dents in my crypto portfolio.

So yes… I have been licking my crypto wound since then…

Fortunately, I diversified where I have put my crypto in or the impact could have been much worse.

The emotional wound had pretty much healed by now but my crypto portfolio is still far from recovery.

I guess my 2018 crypto experience had trained me to be pretty resilient emotionally to the crypto world and a 50% drop is not exactly unexpected.

The last time I did an update on my portfolio in Jan 2021, my crypto holding was around 10% of my entire portfolio.

After this crash, it is now less than 5% of my entire portfolio. Basically a drop of around 50% in my crypto investment.

My crypto holdings is still majority on ALT coins, some in ETH and also some stables coins earing interest.

With crypto companies freezing withdrawal and declaring bankrupt, It really seems more and more difficult to find 'safe' place to park my crypto for yield.

Currently, some of my ALTS are sitting in my own wallet. Some of them are in Binance and Gemini collecting interest.

For my stable coins (USDC), they are placed in Crypto.com for interest. They just recently nerf their interest for stable coins again ☹… and is currently sitting at 4.5% for $3000 and 2.25% for up to $30000 with a 3 months lock in.

This is good and bad. Bad as in I'm getting way less interest. Good as in I know it's going to be more sustainable for Crypto.com.

The centralized exchanges I am holding my crypto on have all survived through the 2018 crypto winter and it seems like a relatively safer bet that they will survive this 2022 crash as well. Hopefully they don't pull a Celsius or Hodlnaut on us…

Regardless, it is important to understand that investing in Cryptocurrencies is still a very risky business and anything can happen to wipe out your crypto investment. Please invest wisely and manage your risk.

As always, thanks for reading and do support me on my referral page. Stay Safe and Happy Cryptoing!