Somebody might made a >$1000 profit on tanking Hive.

Somebody might made a >$1000 profit on tanking Hive.

Might be most of you are wondering that how someone can book a profit on a coin that is tanking, you need the price of coin to be go up in market to actually book profit. Right?

That is the beauty of arbitrage and checking the value of assets in all available option and currency that can be used for buying.

Cutting the long story to short, somebody just bought the "TRACT" from Hive-engine for 7950 SWAP.HIVE and if I take lowest market price of Hive that was dipped to .1714, it means someone might shelled only 7950 x .1714 = $1362.63

let see what might be the cost of tract in USD based on price of Hive.

Price in Hive	Hive price	USD value of tract.
7950	.1714	1362.63
7950	.18	1431
7950	.19	1510
7950	.20	1590
7950	.21	1669.5
7950	.2139	1700.5

Since $1700 was the cost of TRACT in game before they are sold out in game, so any one purchased the TRACT on above Hive prices is actually purchased it less than the price in which it is sold in game before it sold out.

Let see weekly chart of the Hive below:

So Hive went through .35 cents (may be when it was listed effectively making it price $2782.5). Current I expect a TRACT price around $3000 in secondary market, effectively the buyer here most probably more than $1000 (or saved $1000) in this purchase.

Selling untamed at 2500 DEC

Hive Price fluctuation can really yield into unexpected results and that's why I am not willing to put my untamed packs on Hive-Engine where they got sold at as high as $2.93. Instead I will like to sell at 2500 DEC that some make my price fix around $2.5 (that will honored in game as $2.5 irrespective of market price.)
Ypu can find me splinterland's Discord where I have status as maverick and as well as in LEO discord and my Discord id is r1s2g3#3383

Still not playing Splinterland's?

Whatever I discussed above like TRACT and UNTAMED are part splinterland's gaming ecosystem. TRCACT is equivalent to 100 units of Land in game while UNTAMED is card pack bundle ,that give you 5 random cards when you open the pack.

Note for my affiliates

If you want to play splinterlands then you can join it here

I saw few of the player joined the game using my affiliate link and then stopped playing after few battles. If you have any difficulty in playing game, do not hesitate and join the game discord. It is really helping community and contact me here or on discord, I will definitely delegate you some card and review your game for your better game experience.

Posted Using LeoFinance ^Beta