- According to Davis, the Defi space is full of opportunities that can be taken advantage of.
- “In trading, you must keep your leverage low, use stop loss, and keep your position size relative,” he stated.
The Bitcoin price has been in a constant decline since its all-time high and has currently entered a new market trend to trade below $34,000 for the first time in months. This has had a considerable effect on the rest of the digital assets. However, according to Lark Davis, a YouTuber, and crypto analyst, there are ways crypto enthusiasts can make thousands of dollars in this harsh market condition.
DeFi
According to Davis, the Defi space is full of opportunities that can be taken advantage of. A typical example is Parallel Finance, a Polkadot Parachain. Parallel Finance recently released its staked DOT product. People can swap their Polkadots for DOT. They can also get 14.5 percent staked APY from the DOT in addition to a 76 percent extra in Parallel Finance tokens.
Orca, a Solana base decentralized exchange platform is another avenue for people to make profits. It recently introduced a new product called Whirlpools. People can deposit their funds to win great rewards.
You can have higher risk pools like SOL/USDC at 228 percent APR. As this return is very tempting, altcoin/dollar pairing can be much riskier.
To get a smaller risk position, Davis advises that users go for SOL/stSOL which has a 32.5 percent APR. SOL/mSOL also has 36.5 percent APR. Also, users can venture into stablecoin opportunities like wUST/USDC with a 63.3 percent APR.
Spool, a new protocol released a few days ago also has a new high APY. Genesis Spool USDC’s lower risk has 31.7 percent APY. Also, Genesis Spool USDT’s lower risk has 39.99 percent APY.
Trading
There are a lot of trading opportunities out there. According to Davis, this avenue is very rewarding, especially in the Future, but people should know how to do it.
You must keep your leverage low, use stop loss, and keep your position size relative.
Airdrops
People can also resort to airdrops as the easiest way to make free money in crypto. Optimism recently started an Airdrops for people who use its protocols. The Same goes for HOP and Evmos.
I have made thousands of dollars in airdrops for just using protocols early. It is suggested that users check their airdrops eligibility on any of these platforms.
Token sales
Token sales have changed the lives of people with massive gains of as high as 30,000 percent surges according to Davis.
There are a lot of token sales bringing in money.
Partisia Blockchain, for instance, has very exciting technologies, and its token sales are coming around in 25 days. With the current market condition, finding such opportunities are rare. YGG SEA’s token sale is also taking effect from May 9 to May 15.
It is a gaming guild focused in places like Indonesia, Thailand, etc. I am very bullish on it.
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