LPUD & SocialFi Updates in Crypto
Happy LPUD Everyone!
It has been a stressful month for crypto investors once again. The current state of macroeconomics is not pretty great. Brent Oil and Natural Gas prices have been increasing in an uptrend while the interest rates are still too high and the economies are slowing down respectively.
Meanwhile, crypto is in need of a positive atmosphere and another leg of Quantitative Easing to get some money for the ecosystem. When we narrow the scope and focus on Hive, I believe we are doing a fantastic job! Hive has been traded at the support level that we assumed was one of the strongest ones. So, for those who bought Hive around $0.25 over the last 2 - 4 weeks, were able to save their purchasing power while the market was shaking.
LEO is standing strong in the harsh market conditions.
There we have a perfect example of consolidation on the price of LEO token. As LEO's value is also effected by Hive pair on the secondary market, we can proudly say that both charts are looking good and promising compared to the situation in top Ethereum Layer 2 projects and other layer 1s.
SocialFi is Volatile These Days
Friend Tech is hot again after a little break.
The main reason is the trend of Airdrop Farming on the platform.
Here is a chart that I found in Taiki's Youtube video.
Actually, it is too hard for an ordinary crypto person to build a strong Friend Tech account unless there is something to offer or there is a way to attract bots to trade your keys to increase the volume and persuade new people to buy your keys, as well.
We can talk about the most effective ways to get more coins in another post.
Sociogram was dealing with bots that used to drain the reward pools which eaqually distributes the rewards to the users.
In the early days of the project, the daily engagement would bring up to $4 - $5 but, as expected, the rewards are decreasing because both the number of users is increasing and the very first punch of attention is getting less.
It is still possible for a person to get around $0.30 - $0.50 for being an active user of the platform.
Compared to what we get on Hive and LeoFinance, the other SocialFi projects may not satisfy you 😅
Recently, DeBank rearranged the calculation method of rankings and now it is fairer for many active users to rank up on the platform. Personally, I was around 30k and my new rank is 22k.
On DeBank, the ranking affects your possible earnings from the reward pools of content.
Unfortunately, you cannot assess what you will get on DeBank's engagement. When a post is reviewed by higher ranked guys, whales etc., you may not even get $0.01 from a $5 post. In that sense, DeBank is a bit whale friendly by nature.
These are little updates on the side of SocialFi. Still, we are looking for a real Web 3 example like Hive ecosystem. So far the popular guys are close to be Web 2.5 rather than Web 3, though.
By the way, our engagement on these platforms play an important role in introducing Hive ecosystem and projects like LeoFinance to these target crypto people. Thus, always have an eye on them and try to enjoy your experience.
These are my LPUD updates for this month.
How has been the LPUD for you?
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Hive On ✌🏼
Posted Using LeoFinance Alpha