Quick info: The following text is an AI-corrected translation from English. Some people may not like it, just don't read it, for everyone else this is the beginning of an exciting text.

For those in a hurry: The most important points in a nutshell

Revenue and growth: The Base network has proven to be an impressive source of revenue. In its first year alone, the platform generated around $74.4 million in revenue, mainly from so-called "sequencer fees" that users pay for transactions. Driven by exponential growth in user activity, Base has become one of the leading networks of its kind.

• A revolutionary cost reduction: Base's operating costs originally consisted mainly of storing transaction data on the secure Ethereum blockchain (layer 1). This changed abruptly with Ethereum's Dencun upgrade on March 13, 2024, which reduced these costs by over 99% by introducing so-called "blobs" (EIP-4844), a new, highly efficient way of storing data.

• Profitability with strategy: Base is demonstrably profitable and has achieved an on-chain gross profit of over $53 million since its launch. However, profitability underwent a remarkable evolution: after the Dencun upgrade, the gross margin exploded from around 22% to over 92%. At the same time, the absolute weekly profit paradoxically dropped by over 90% as Coinbase passed on the cost benefits directly to users to massively boost growth - a strategy that paid off.

• From a dollar to a fraction of a cent: for end users, the Dencun upgrade was a boon. Average transaction fees fell by more than 95%. An action like exchanging tokens, which previously cost around $1.00, is now often less than $0.005. This drastic cost reduction was the key catalyst for the explosion in users and transactions

Base: Coinbase's strategic on-chain initiative

After several months of testing and development, Base officially launched its public mainnet on August 9, 2023.

Technically speaking, Base is a "layer 2 scaling solution" for Ethereum that builds on Optimism's open-source OP stack. As a so-called "optimistic rollup", Base processes transactions bundled away from the Ethereum main blockchain and only passes on a compressed summary to it. This architecture allows Base to inherit the robust security and decentralization of Ethereum while offering users significantly faster and cheaper transactions.

This positioning makes Base a strategic stroke of genius for its parent company Coinbase. The rise of efficient Layer 2 networks and decentralized exchanges (DEXs) poses a long-term threat to the business model of centralized exchanges (CEXs) like Coinbase. Coinbase is proactively addressing this threat by launching its own L2 network. Instead of losing users to external on-chain ecosystems, the company is channeling them into an environment that it operates and controls itself. This is a defensive maneuver to protect its core business while opening up new revenue streams.

The business model of a Layer 2 sequencer

Base's profitability is based on the fundamental role the network plays as a layer-2 sequencer. In this function, Coinbase operates the node that sorts and bundles user transactions and transmits them to the Ethereum blockchain. This results in a clear business model with defined revenue streams and cost factors.

The revenue comes from the fees that users pay for processing their transactions. Each fee on Base is made up of two parts:

The L2 fee (execution fee), which remunerates the sequencer for the computing power on the Base network itself.

The L1 fee (security fee), which covers the estimated costs incurred by the sequencer for publishing the data on the Ethereum mainnet.

The sum of both components is the total fee for the user and represents the gross revenue for Base. A key element is the EIP-1559-based fee market, which allows users to voluntarily pay a "tip" (priority fee). In times of high network utilization, they can thus have their transaction brought forward.

The costs, or more precisely the "cost of sales", consist almost exclusively of the fees that Base has to pay to the Ethereum network for data storage and processing. These expenses are incurred when the sequencer publishes the bundled L2 transaction data on the L1 blockchain, anchoring the state of the Base network to the security of Ethereum.

This results in a simple formula for on-chain profitability:

Gross profit = total revenue (all user fees) - L1 data and security costs

Gross margin = gross profit / total revenue

This model creates a powerful economic feedback loop. If the demand for transactions on Base increases, for example due to a popular new app or high trading activity, there is competition for the scarce space in the blocks. Users who benefit most from fast execution are willing to pay higher priority fees. This bidding process directly drives up the sequencer's revenue. Base's revenue thus grows in proportion to the demand and economic value of the activities taking place on the network.

Financial performance over time

Q3 2023: Immediately after its launch in August, Base quickly gained momentum through the "Onchain Summer" marketing campaign and viral apps such as friend.tech. This initial phase created a solid base of user activity and revenue.

Q4 2023 & Q1 2024: The network saw steady organic growth in users and transaction volume, leading to a continuous increase in quarterly revenue.

Q2 2024: This quarter marked a turning point. After the Dencun upgrade, Base's L1 costs plummeted. Coinbase passed these savings almost entirely on to users in the form of drastically reduced fees. The result: despite a massive increase in transaction volume, the average revenue per transaction fell sharply, leading to a temporary dip in total revenue.

Q3 & Q4 2024: The strategy of prioritizing user growth over short-term profits began to pay off. The sheer scale of the transaction volume compensated for the lower revenue per transaction. The Coinbase report for Q4 2024 reported an impressive 99% quarter-on-quarter increase in "other transaction revenue" to $68 million, "largely driven by higher sequencer revenue on Base".

Q1 2025: The trend of massive transaction volume continued. However, Coinbase's Q1 2025 shareholder letter pointed out that the average revenue per transaction on Base decreased by 21% compared to the previous quarter. This shows that intense competition and network optimizations continue to push fees down, even as overall activity grows.

Aggregated on-chain data from Token Terminal summarizes this development: In the 365-day period from the end of July 2024 to the end of July 2025, the base network generated total revenue of $74.4 million.

Cost dynamics: the dencun effect

The expense side of the Base balance sheet is dominated by a single item: the cost of securing on Ethereum L1. And this item was structurally and permanently redesigned in March 2024.

Before the Dencun upgrade, Base, like other rollups, used a data field called "calldata" to send its transaction data to Ethereum. This method was secure but expensive, as L2s had to compete for scarce storage space with all other Ethereum transactions. In February 2024, for example, these costs amounted to a considerable $3.8 million for Base.

The Ethereum Dencun upgrade on March 13, 2024 introduced a revolution with EIP-4844 (proto-thanksharding). It created an entirely new, separate data market for L2s through a data structure called "blobs". Blobs are specifically designed for this purpose and are therefore dramatically cheaper than call data.

The effect was immediate and profound. L1 security costs became, as one analysis aptly put it, "virtually insignificant". Data shows that the cost for Base to post its data to Ethereum for the entire month of August 2024 was less than $11,000 - a world of difference from the millions of dollars per month before Dencun. A comprehensive analysis by L2BEAT for the full year (July 31, 2024 to July 30, 2025) puts Base's total L1 cost at just $4.93 million.

This combination of revenue and transformed cost structure has led to a dynamic profitability development. As of September 11, 2024, the Base network had generated a cumulative on-chain gross profit of $53.63 million since its launch, confirming the underlying profitability of the operation.

The profit margin trend tells an even finer story. A Galaxy Digital report comparing the 150 days before and after Dencun provides clear numbers:

Pre-Dencun: Optimistic rollups like Base were operating at an average gross margin of 22.65%.

After Dencun: This margin exploded to 92.3%.

This quadrupling of the margin is the direct result of collapsed L1 costs while retaining a portion of user fees.

Economics for the end user: What does a transaction cost?

Between its launch in August 2023 and the Dencun upgrade in March 2024, Base already offered a significant cost saving over Ethereum, but the fees were still noticeable for users. The average transaction fee was around $0.50, more complex actions such as a token swap could cost around $1.00.

Dencun was a game changer here too. As the cost of the base sequencer plummeted, this saving could be passed on directly to users. The change was drastic:

After Dencun, median gas fees on Base dropped into the $0.005 range.

A token exchange on an exchange like Uniswap, which previously cost a dollar, was now possible for $0.0018 to $0.05.

A simple transfer of ETH now only costs around $0.004.

Conclusion and outlook: Base compared to the traditional financial world

The analysis of the on-chain data leads to a clear conclusion: the Base network is an undeniably profitable on-chain company. The Dencun upgrade was the decisive event that enabled a strategic realignment: short-term profits were deliberately sacrificed in order to lay a foundation for long-term, sustainable growth through radical fee reductions.

To understand the scope of this development, it is worth making a comparison with everyday financial transactions.

Round 1: Base vs. share trading

Share trading has become much cheaper in recent years, but "free" trading often comes with a catch.

In Europe: Investors are often faced with a mixture of flat fees and percentage costs. A broker like Trade Republic charges a flat fee of €1 per transaction. For an investor who invests €100, this fee means that 1% of their capital is lost from the outset. For smaller, frequent trades, this quickly becomes expensive.

In the USA: Large online brokers advertise with $0 commissions. However, hidden costs can also arise here due to order forwarding (payment for order flow).

The verdict: For a simple share purchase, modern brokers are competitive. But a minimum fee of €1 is literally hundreds, if not thousands of times more expensive than the sub-cent fees on Base.

Round 2: Base vs. international money transfers

SEPA vs. World: Within the European Payments Area (SEPA), euro transfers are often free. However, as soon as currencies are exchanged or money is sent outside this zone, the costs explode. Banks often charge 3-4 % in hidden surcharges and fees. A transfer from a non-euro EU country such as Bulgaria can quickly cost €20.

Fintechs & banks: Even modern services like Wise, which are significantly cheaper, usually charge a percentage (often 0.3 % to 1 %). For a transfer of $1,000, that's still $3 to $10. A traditional international transfer with a major bank often costs $45 to $50.

The verdict: There is no competition here. A simple transfer on Base costs around $0.005. Compared to a $45 bank transfer, the savings are astronomical. Base offers the efficiency of a SEPA transfer, but on a global, currency-independent level.

The microtransaction revolution and financial inclusion.

Saving a few euros on a transaction is already very good, but the real revolution of these near-zero costs lies in the new possibilities they open up.

The era of microtransactions: When a transaction costs less than a penny, it suddenly becomes possible to tip a content creator a few cents, buy an in-game item for a small amount or pay for a single item online without having to take out a subscription. This opens up completely new business models for the digital economy.

True financial inclusion: For people in developing countries, a transaction fee of $ 1- 10 can be a significant barrier. A fee of two cents is not. This radical affordability allows anyone with an internet connection to participate in the global financial system.

$COIN (-3.54%)
$CRCL (-1.76%)
$HOOD (+1.22%)
$ETH (+0.34%)
$OP (-1.27%)
$UNI (+0.16%)

Good morning dear community, so yesterday I decided to sell $ETH (+0.34%) to sell and instead $NOVO B (-0.6%) & further purchases of $GIS (+1.12%)
$LYB (+1.96%)
$O (+0.98%) for my dividend portfolio. It was probably a bad mistake, but I'm letting my other altcoins continue to $SOL (+0.79%)
$AVAX (-0.43%)
$UNI (+0.16%)
$DOT (-0.86%)
$MATIC (-0.57%) continue to run.

What do you think the altcoin season will be like now? I still find $UNH (+1.6%) interesting 🧐 But there are still investigations going on. I think it's very remarkable how the share has performed, with a €1000 investment in the 1980s you'd be a millionaire now 🫠

Have a nice weekend ✌️

I am glad that I have taken crypto profits and shifted into equities. In line with my strategy, I'm shifting into distributors, which should finance my new accumulation via dividends in the coming bear market so that I don't have to use my net salary. The $HSBA (+0.61%) is one of the major British banks with a focus on Asian business and one of the successors in which my profits and investments from $XRP (+0.17%) , $LINK (-0.2%) , and a tranche $UNI (+0.16%) have flowed into. Of course, crypto in general is only a small part of my assets, hence the amounts invested in the "followers", but HSBC really stands out with a strong +24% performance since December. Wow! I didn't expect that at all. I love such defensive stocks and even more their cash flow. More information will probably be available at the end of next week in my February review.

Last year, there was a distinct lack of snow in December. Instead, the portfolio did really well and I made progress with my crypto sell-off strategy. A small cold in the fall, despite taking good precautions, set me back in terms of ice bathing and hiking, but fortunately I was healthy again by Christmas. Unfortunately, that wasn't all... Time for a look back.

I present the following points for the past month of December 2024:

➡️ SHARES

➡️ ETFS

➡️ DISTRIBUTIONS

➡️ CASHBACK

➡️ AFTER-PURCHASES

➡️ P2P CREDITS

➡️ CRYPTO

➡️ WHAT IS REALLY IMPORTANT

➡️ OUTLOOK

➡️ Shares

$AVGO (+2.77%) is back on the tube. Wow, at +276%, the stock is now up for me. After the share cooled down a little, it went to the moon again in December.

$NFLX (-1.26%) and $SAP (-1.47%) are on a par with the previous month in terms of performance and are still in 3rd and 4th place in terms of volume. $WMT (-0.11%) . The retail chain will soon become a doubler for me.

The red lanterns will once again go to the usual suspects $NKE (-0.5%) , $DHR (+0.74%) and $CPB (+0.11%) . In terms of performance, all three stocks are down between -30% and -20%. They are the smallest positions in my main share portfolio with the $DHL (+2.58%) However, across all portfolios, the smallest positions are the new additions $SHEL (+0.43%) and $HSBA (+0.61%) .

➡️ ETFs

The ETFs are doing their thing as usual. This month, I immediately invested a refund from the previous year's utility bill in the $GGRP (+0.86%) and $JEGP (+0.09%) invested. I'm always expanding this asset class in particular with cash inflows. I don't care about timing. The money should go into the assets so that the stream of distributions keeps growing. I buy income and want cash flow.

➡️ Distributions

I received 34 distributions on 14 payout days in December. I am grateful for this additional income stream. My minimum target has been met anyway in this high-distribution month. The snowball rolling down the slope is getting bigger and bigger.

I already donated part of the dividend at the beginning of the month. This is based on the conviction that you can (and should) give something back, no matter how small, if you have the opportunity to do so.

➡️ Cashback

In November, I received €6 from redeemed Payback points, the equivalent of which I transferred from my grocery account to my settlement account. As already mentioned, there was also a credit from the utility bill. REWE and Penny have now separated from Payback, while Edeka, Netto Markendiscount and Marktkauf have joined. All three new stores are not in my immediate vicinity, which is why I will earn fewer Payback points in future. I will most likely collect the points mainly at DM. REWE and Penny now have their own bonus programs. REWE's will be exciting, as I can also save up credit with my purchases. I will deduct this discount from my grocery account and invest it in the same way as before. I'll see over the year whether it pays off more than Payback did back then.

➡️ Subsequent purchases

As already mentioned, there were additional purchases at $JEGP (+0.09%) , $GGRP (+0.86%) and $SPYD (+0%) . I always invest every little return or leftover money to further increase my portfolio. This buys me freedom.

➡️ P2P loans

I was finally able to get rid of Peerberry. Now only Mintos is hanging on my leg like a log. A mid-double-digit amount, which has long since defaulted, is still waiting to be refunded or written off.

This asset class will soon be history for me.

➡️ Crypto

All in all, December was another exciting month for crypto investors. Limit orders were triggered again for me. The last tranches $LINK (-0.2%) have left me, as has a first tranche $UNI (+0.16%) and a first tranche $BTC (+0.16%) . I have invested the proceeds in $HSBA (+0.61%) and $SHEL (+0.43%) invested in the separate portfolio. I have already explained my underlying strategy in detail, which you can read about in my articles. Recently, the crypto market has been in a sideways phase again. I'm hoping for another breakout in January to trigger further limit orders, as I still need to buy a security so that the separate portfolio pays me a return each month. So far, only two out of three quarterly months are covered. The two new stocks have even performed well in this short period of time, gaining around +3.6% within a month. The last purchase will perhaps be an ETF. You will see more about this in the coming reviews. I am already looking forward to collecting again in the coming bear market and will then certainly write an extra post with the levels at which I will gradually enter again.

➡️ What is really important

I remember December as a good month in financial terms, but unfortunately Christmas was overshadowed by tragic events this time.

After recovering from my cold at the beginning of the month a few days before Christmas Eve and getting back to my daily routine (consisting of work, running, ice swimming, hiking and my love of finance), I received the terrible news from Magdeburg. I am simply stunned and ask myself "why?". I am not affected, I am not one of the bereaved and I don't know any of the victims, the wounded or the bereaved personally, yet this event brought me down on the evenings around the Christmas holidays. Loyal readers know that I am working on a closer relationship with my ex's kids. Even though my blood doesn't run through their veins, questions ran through my mind about what if they were affected by the horrific act, or me? It could have happened anywhere. At least in the event of my untimely demise, I also made appropriate arrangements in the last few days of the year to ensure that what I leave behind ends up where I want it to be. I spent the turn of the year with the kids and the time I spent with them was the best end to the year imaginable. It's nice when connections continue to exist and you remain part of the life of the Kampfzwerge and can continue to accompany them through life.

➡️ Outlook

New year, new luck. I'll be surprised what the new year will bring. There will be a separate post for the evaluation of 2024 as a whole. I'm particularly happy because I exceeded an important goal despite a few expenses.

Links:

Social media links can be found in my profile, you can also check out the Instagram version of my review.

Tonight I also triggered a limit order at $BTC (+0.16%) triggered a limit order. A first smaller partial tranche has been sold. Everything is going according to plan. I have even revised the targets announced in my #krypto -I have even adjusted some of the BTC targets announced in my post upwards. This means that the limit order was triggered at around USD 106,500 / EUR 99,000. Over USD 10,000 more than planned. The order, which I also placed with a lot of gut feeling after my analysis, happens to be as good as the nightly top 🥰

The next tranche is at 104,000 EUR / 109,300 USD.

Even though my planning and analysis is based on USD prices for crypto, I have set the limit orders in EUR prices.

I am now also publishing what the profits and stakes will be reinvested in. The exact securities I am looking at have not yet been explicitly mentioned.

So far, investments have been made in $HSBA (+0.61%) from the proceeds of $XRP (+0.17%) , $LINK (-0.2%) and the first tranche of $UNI (+0.16%) -sales.

From today's first tranche of $BTC (+0.16%) -sales, I entered $SHEL (+0.43%) I have entered.

What else will come according to plan? $BP. (+0.19%) As a single share. I would then have 3 shares to cover the third month of each quarter with distributions in a separate portfolio. I want to cover the first two months with ETFs, including the first month with either the $EXSB (+0.96%) or (and) $EXX5 (+0.32%) and the second month with the $FUSD (+0.35%) . Will there be any overlaps with my main or one of the two old ETF portfolios in terms of the composition of the securities? For sure! But that doesn't matter to me, as I consider this portfolio, in which the crypto stakes and profits are invested, separately. As you can see from my articles, this is all about building up the basis, the dividends from which I will then use to build up new crypto holdings in the coming bear market so that I don't have to draw on my net salary. This is because the net salary is firmly earmarked for the regular savings plans and the distributions from the main and old portfolios.

Based on the current prices, I think that my second BTC tranche will be the next to fall. The altcoin season should start very soon. I can hardly wait $BCH (+0.08%) , $LTC (+1.51%) , $SOL (+0.79%) , $DOT (-0.86%) , , the rest $UNI (+0.16%) and $MATIC (-0.57%) to finally get rid of it. But I think it will be most exciting with the higher planned tranches at $BTC (+0.16%) and $ETH (+0.34%) .

And today the next two stop orders took effect:

The third of four tranches $LINK (-0.2%) left me today and also the first of two tranches at $UNI (+0.16%) .

In addition, the first tranches of $BCH (+0.08%) and $LTC (+1.51%) before liquidation. It should only take a few more days.

I have revised my exit targets for $BTC (+0.16%) have been adjusted slightly upwards, so I haven't sold anything yet, but the very first sale of the first sub-tranche will also take place here soon.

These are exciting times in this bull market. I only entered the crypto world towards the end of the last one, so this is basically my first bull market. I'm even looking forward to the first bear market, when the dividend shares from the current proceeds will automatically allow me to buy new cryptos without having to draw on my net salary.

Hello everyone,

after my extra post on the topic #krypto there is a continuation today.

The text is long. But I only exist in long.

First a short summary.

In the current bull market, I will gradually sell all my crypto holdings according to plan and invest the proceeds in dividend-paying stocks (or perhaps even ETFs) in a separate portfolio in order to gradually accumulate new holdings again in the coming bear market with the help of the distributions.

The reason why I am taking this approach is that, with the exception of $SOL (+0.79%) all my holdings are tax-free, as the holding periods have expired and I can let the entire profit work for me. Reparking in stable coins is out of the question for me. I play this strategy because I see a connection between the debt cycle and the crypto cycle, which in my opinion are related as in the article below. You are welcome to read my reasons and assumptions again.

Please note that this is not investment advice or recommendation. All I did this Sunday afternoon was get the crystal ball out of the cupboard and try my hand at fortune telling. I will almost certainly be wrong somewhere.

In today's second part, I will discuss the price exit targets for altcoins and other thoughts. I divide my cryptos into four groups.

Group 1: "The big ones"

Price exit line for ETH

$ETH (+0.34%) is for me one of the few coins that can still achieve a higher ATH than the big leader $BTC (+0.16%) . However, we can clearly see that ETH has underperformed against BTC so far, with a downward trend. That's why I don't trust it to reach the target of $10K. With BTC I have seen a multiplier of 7-8x from the last bear market to the current bull market, here with ETH I see less as it is underperforming. From the last ATL to the top in February we have roughly a 3.8x increase. Now we are still below the February high. That's why I think that 4x (to 5x at the very most) is the end. As a result, I have set exit levels of 3.8K, 4K, 4.2K and 4.4K. This puts us below the last ATH, but as I said, I simply don't trust the coin anymore, as it seems to be constantly losing against BTC. What speaks against my thesis is ETH's dominance in what it is intended for and a possible future through staking.

Price exit line for SOL

$SOL (+0.79%) has already proven brilliantly that it seems to be winning over the crypto investor. In this coin, I've put the remnants of my seemingly infinite loss from the $DFI (-79.91%) / DUSD debacle in the hope that Solana's performance will somehow enable me to recoup some of it. Certainly not everything, but a little. And that has worked out quite well so far. I'm up 40% and expect even more here. Solana is the only coin I have that has already exceeded the old ATH, which is why I believe it can reach a higher level in the bull market. However, my calculation method (as with the following coins) does not work for this one. I therefore have to choose levels based on gut feeling and have set them at $350/400/450 and 500. The coin can certainly rise even further, but I simply lack the ability to calculate a level somehow.

Group 2: "The remains of liquidity mining"

Price exit line for BCH

Yes, my portfolio also contains $BCH (+0.08%) again. This was one of the two coins with which I gained experience in liquidity mining at CakeDefi. With little money, which then became even less due to the exit from the LM pool (but there were even more worthless DFIs). I was very impressed in the spring when this coin fought its way to $700. Looking at the overall chart, we can see that the ATHs have become smaller and smaller. That will also be the case this time. First just under 3.9K, then 1.5K. In other words, less than half of the rise. And I expect something similar again. Half would then only be just above the March high. That's why I'm positioning myself here at 650, 700 and 750. Maybe I'll be happy to get rid of the crap and throw them all out of the portfolio at once. Back then I was more convinced of LM than I was of the DFI ecosystem. Today, for me it's just worthless junk that will definitely be thrown out. The good thing is that I bought the coin in several tranches during the bear market and added it to the LM; my performance is now already at +280% (since "retrieving Cake").

Price exit line for LTC

And what is the name of the other coin that is no longer any good and suffers from the same disease as BCH? Of course the $LTC (+1.51%) . Both used to be hard forks. But in contrast to BCH, this one has not performed at all for me. Only +4% (measured since the retrieval of Cake, it's too complicated for me to determine that with the previous one because of the daily rewards at the time). LTC has made another higher top, but that won't happen again now. I'm sure of that. I don't even see the 200 USD. I'll be out at 150 at the latest and I'll throw everything on the market right away. After all, the coin has already doubled this year since the August low and there's certainly not that much air left in the balloon.

Group 3: "Convincing use cases for me"

Price exit line for LINK

$LINK (-0.2%) was a project that convinced me of its use case at the time. In times when I still believed in use cases for crypto and before I learned and understood the crypto cycle and before I realized that crypto (despite its advantages) is a zero-sum game. I bought Link with the next coin I'm about to list at around USD 10. Later, things continued to go downhill and I added more. This one is in the green zone for me at +95%. So today I am pleased. If we look at the maximum chart, we have a cycle ATH so far. So my method is not working here either. But I'm sure that we won't get to the old one, or is anyone still talking about this coin? At USD 20, 22 and 24 it's out for me.

Price exit line for UNI

In $UNI (+0.16%) I went in at the same time as $LINK (-0.2%) in spring 2022 and also topped up at the same intervals. I also liked the use case here at the time. A decentralized exchange. I found it very interesting back then how the whole thing works with liquidity pools and I still find it somewhere today. Nevertheless, this coin will also be removed from my portfolio. My performance here is slightly worse than with Chainlink, only +40%. And looking at the overall chart only gives me the opportunity to estimate I'm taking my cue from the previous one and scaling down. I liquidate at USD 16, 18 and 20.

Group 4: "For whatever reason..."

Price exit line for DOT

I just can't remember why I bought $DOT (-0.86%) bought. Same goes for the one time top up. Again, I plan to exit at $20. I've invested even less here, so I'll get everything out at once. Performance to date +40%.

Price exit line for MATIC/POL

$MATIC (-0.57%) I bought and added together with Polkadot and don't remember my intention to enter here either, but I think I promised myself a ride on the wave here. Want to get out at $1 here. All at once. My performance here is still negative at -50%.

Further thoughts and additions

Anyone who has read this far will have realized that I have undergone a transformation in my crypto journey. At the beginning, I only bet on the two big ones, then the DeFi world came along for me, at the same time two use cases convinced me and finally I simply bought two in the hope that they would rise (fortunately only with small play money).

When I was involved in CakeDefi back then and tried my hand at staking and liquidity mining, I simply wanted cash flow. The thought still lives in me, but I'd rather have it in FIAT currency. It just makes it a lot easier with tax. Withholding tax and that's it, it couldn't be simpler. I also got to know leverage at Cake with the borrow. It was a great story when you could immediately exchange mined DUSD for DFI and then leverage it again or put it into LM with BCH and LTC. But I didn't see the warning sign when the possibility of immediate exchange disappeared and then came the stabilization fee. I should have been out of the game by this point, I'd more or less paid the penalty. I won't do that again. What remains, however, is that I want to reinvest cash flow for free and try my hand at a small securities loan in times of even lower interest rates.

You can also see that I used to believe in use cases, but today I no longer believe in them at all. Even better, I exploit these use cases to make a profit. That's why I made my last investment in Solana with the Cake-Restern (and also with deposit money from found returnable bottles). I believe that there are others who see a future in Solana and am therefore getting in to take the exit liquidity that the newcomers bring with them.

For me, the only thing that matters now is the belief in the crypto cycle, coupled with the debt cycle. Please read the first post again, where I set out my assumptions.

Ultimately, my journey with equities and ETFs is much more exciting and even more complex. That is my main focus. For me, BTC is an admixture, and the rest of crypto is just crap. Of course, this looks very different through the eyes of someone who lives in Africa and can't get a bank account.

And now I wish us all good prices so that you too can take profits.

To all those who are currently trading Shitcoins in the short termI'm slowly getting weak. I should actually be following my strategy, but the gains are too juicy.

My plan is actually to let the Shitcoins run for a bit over the WE at max. lev (3x for me) to take the retailer FOMO with me and conservatively tighten the stops - max. until Monday US opening. And then to run small spot hedges at least for Mon/Thu, depending on the strength, and then to extend longs again.

How do you do it? my trades: $MKR (+3.35%)
$MATIC (-0.57%)
$UNI (+0.16%)
$TAO (+1.89%)
$ADA (-0.82%)
$LINK (-0.2%)
$SHIB (-0.87%)
$DOGE (-0.22%)
$AVAX (-0.43%)