Stock Trading - Entry 41

With the aim of keeping the focus on dispelling myths and keeping things interesting, I will not get into my thirteen questions and instead provide an overview of the other blockchains I invested in, what my blockchain portfolio looks like, and what I intend to do with it. This is not financial advice, only my thoughts and opinions on my own situation.

Solana

In an earlier entry, I had mentioned that the blockchain sphere in 2025 is tiered and Solana is one of the blockchains that has a solid user base and development community (for apps to run in the Solana ecosystem). In fact, it is even the basis for the USDe stablecoin, according to this article. If you'd like a more detailed, high-level, plain-language overview on Solana, you can check out this article.

So, I bought Solana on Netcoins since their staking rewards were good.

Injective

Similar to the other blockchains on the "supporting level", I invested in Injective and staked it on BitBuy. While it centers a little more on NFTs (a subject I head yet to get into), you can read more about Injective in this article.

(I don't have a photo of a physical Injective coin because I have been unable to find one. The irony would be Injective making me the most money over time, but who knows.)

XRP

For fun, I decided to dabble in an altcoin to time the market and I picked XRP, simply because it tends to get a consistent amount of hype to drive fluctuations. I did sell early on once the ROI exceeded 10% and made a whopping $3.55 in net gains. Then I got to wondering when I should re-invest. As it turns out, patience is very trying in a wild west scenario. I should have waited a couple of weeks, not a day before repurchasing. The price for XRP has yet to rebound to the price I bought at the second time around. One more reason for me to not day trade after I sell my XRP tokens....

SUI

Here's one I wanted, but is not yet available on Netcoins or Bitbuy! It's basically used for gaming. Apparently, gamers can exchange SUI tokens for special items they acquire in games and other such purchases. Big market, but big disappointment due to lack of availability on my two regulated Canadian blockchain exchanges.

Snapshot Comparison

Since I am using two exchanges to trade blockchains, I started using CoinGecko to track my overall portfolio. For staking rewards, I simply treat those as a 'transfer in' transaction, since it registers those as a $0 cost (unless you manually enter a fee). My general aim was to have about $100 CAD in each (except XRP), although I topped it up during the market dip to keep each at that level (except XRP and BTC). Here's what I started with:

And below are how things looked a little over two months later:

My Intentions

I intend to hold until I can at least make 10% ROI on any of my holdings. For Bitcoin, XRP, and Cardano this will be fairly straight forward. How early in a upward trend will I pull the trigger? Unknown. Again, I have no intention of timing the market precisely. My aim will match my ability: to sell whenever I am comfortably in the black.

For the other blockchains in my portfolio, the unbonding period is going to make things interesting. For Cardano at the time of publishing, unbonding is instant on BitBuy, which is nice. The others take a few weeks. As a result, I am paying attention to some macro (big picture) trends influencing the blockchain sphere. That said, I am planning on holding and gaining staking rewards for at least a few more months.

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