Quote from: jostorres on August 08, 2023, 04:05:39 AM

Quote from: Iamcrypticguy on August 02, 2023, 11:20:39 AM

this year has been quite turbulent for some altcoins, especially exchange tokens. I've invested in a few and performance-wise, only a handful of them have shown decent growth throughout the year. How about you? Do you have any exchange tokens in your holdings, and what are your thoughts on their market performance this year? Let's discuss our experiences and perspectives on how these tokens have been faring in this volatile market.

I'm personally not a fan of buying and holding altcoins for a very long period of time, in my portfolio, only Bitcoin has that spot and I don't add other cryptocurrencies in that category, but I do buy and sell them for short term, and since I've been only using Binance for the most part, I've had bought some BNB after the crash when the price recovered a little bit from $16k to $24k, but I didn't hold them for long and sold them back after booking some profit.

My spouse had bought BNB recently before the SEC had sued Binance and that made the price of BNB crash badly and now she is stuck with her investment. This is the most probable reason why I don't hold altcoins for the long term because I know that things can go wrong at any time with them.

You do well to have that policy, altcoins are simply too unstable and when it comes to exchange tokens their performance could be affected on the future due to the regulations the SEC could impose to exchanges and their coins, this is what has many investors worried and it caused the drop in the price of coins like BNB, still if you have already enough bitcoin and you have some spare cash then investing in BNB can be a good choice, as long as you are willing to sell them at the first sign there could be some trouble.