On your marks…

Coinbase and Binance seem to be dominating the news, the former as their direct listing hits the markets this Wednesday, and the latter because of the insane growth of their token due to the success of Binance Smart Chain. I spent some more time on BSC yesterday, aping into various yield farms, and I’m definitely rueing the day that I sold my BNB tokens at seventeen dollars.

The success of BSC has eased a lot of the congestion on Ethereum, gas was sub-100 all weekend, and even now. That’s making it a lot more feasible to manage positions, even considering ETH is at an ATH against USD. (ETH-BTC, on the other hand…)

I’m still trying to figure out what to do with my wBTC. I’ve got positions in Vesper and Klondike, but the APY isn’t such that it’s worth a substantial investment for me right now. And I sure am not going to risk it by trading it for anything right now. I still think we’re on the cusp of a breakout, and I’m not risking anything between now and June 1. The yPBTC vault on Yearn is at 25% APY right now, but I’m not trying to get stuck in any V1 vaults right now.

Many are saying that the Coinbase IPO is going to set off the next leg off the BTC rally, but I’m holding a little bit of fiat in reserve in case it goes the other way. I do think we could see a massive rally this month, but I’m just holding tight for right now and will buy any dips that come up.

As far as equities go, I’m going to sell off a bit of my GBTC today and put in a rollover request. Transfers are taking several weeks, so I think I’ll put in a large transfer request now and wait for the acknowledgement to sell off my positions. I’ve got a few losers that I want to get rid of today, just in case I do want to buy some Coinbase stock. Not really, though, I think I’m going to hold off from buying anything in equities for the foreseeable future, and that includes the value averaging protocol that I’ve been running for the last year or two. I think my idea is just to transfer out any money in my TradIRA over a certain amount, and move that over to my checkbook IRA month by month. We’ll see how far that gets us by June.

I’ve got a busy day ahead of me. I’ve got some cleanup to do following my day off last Friday, and I’m starting my new documentation project for SetProtocol. Time to go.

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