Looks like we’ve still got some legs in this alt run. $AVAX $FTM $DOT $ADA all looking great
The Polkadot crypto protocol is designed to enable unrelated blockchains to securely communicate, so that data and value can flow between, for example, Bitcoin and Ethereum blockchains without any intermediaries. It’s designed with speed and scalability in mind, as it uses many parallel blockchains, known as parachains, which alleviate the main blockchain by taking care of the majority of the processing demand.
The Polkadot coin, DOT, is used for two main purposes within the Polkadot network. It is a governance token, allowing holders to vote on changes and the future of the protocol. The Polkadot asset is also used for staking, whereby users who stake it receive periodical rewards of newly issued DOT. DOT can then be traded on various exchanges.
As such, Polkadot uses the proof-of-stake (PoS) consensus mechanism as opposed to the proof-of-work (PoW) mechanism to verify transactions, secure the network, and distribute new DOT.
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Layer 1 ALTS have started to move! What a week, first $ETH outperformed $BTC, and now we see fantastic gains from our largest holding $ATOM and other holdings including $DOT and $NEAR.
Rebalanced, doing our second 'profit taking action'. Adding 0.5% to: $BTC $PAXG and $USDC. As stated on our blog, taking profits as we move up. https://carus-ar.com/blog/carus-ar-profit-taking-strategy-in-case-of-crypto-bull-market.html
Three chains with the most active development are kusama, cardana and dot - been the case for the last year $KSM $ADA $DOT
Looks like the altcoins followed the $BTC narative. Yesterday $SOL saw a nice pump from which we gave a 4% to $PAXG. Others ($LINK, $INJ and $DOT) followed nicely as well. The plan is the same, from the profits, we'll be taking smaller chunks of % and will be putting them into $PAXG and $USDC. At corrections we'll buy with those positions.
Have a great weekend guys!🤙