Recently I came across a pretty interesting $SKY operation.
The Whale 0x4bf’s idea is actually very simple: find Tokens with a revenue distribution mechanism, buy in at a low price, then stake them while earning both from price appreciation and staking rewards.
Four weeks ago, it bought 5.63 million SKY tokens at a cost of about $3.4143 million, and then staked the entire amount. Two weeks later, it unstaked and sold the whole position—counting the rewards as well—ultimately selling for about $4.0634 million. This round netted roughly $65,000.
Over the past week, this address bought another 23.267 million SKY tokens from Binance and Kraken, with an average cost of about $0.576, for a total investment of around $1.34 million. Then, once again, it staked the entire amount.
What I think is truly worth paying attention to is SKY’s Tokenomics: part of the protocol revenue is used to buy back and burn, and the other part is distributed to holders via the mechanism.
For projects that generate real yield and can feed value back to the Token—if the short-term coin price isn’t rising yet, I think you can be a bit more patient. Of course, many people call SKY a garbage coin; I still hold the view that it’s a garbage coin before the price goes up. And once the price starts rising, many people then don’t dare to chase it.
The Whale 0x4bf’s idea is actually very simple: find Tokens with a revenue distribution mechanism, buy in at a low price, then stake them while earning both from price appreciation and staking rewards.
Four weeks ago, it bought 5.63 million SKY tokens at a cost of about $3.4143 million, and then staked the entire amount. Two weeks later, it unstaked and sold the whole position—counting the rewards as well—ultimately selling for about $4.0634 million. This round netted roughly $65,000.
Over the past week, this address bought another 23.267 million SKY tokens from Binance and Kraken, with an average cost of about $0.576, for a total investment of around $1.34 million. Then, once again, it staked the entire amount.
What I think is truly worth paying attention to is SKY’s Tokenomics: part of the protocol revenue is used to buy back and burn, and the other part is distributed to holders via the mechanism.
For projects that generate real yield and can feed value back to the Token—if the short-term coin price isn’t rising yet, I think you can be a bit more patient. Of course, many people call SKY a garbage coin; I still hold the view that it’s a garbage coin before the price goes up. And once the price starts rising, many people then don’t dare to chase it.
