Taking profit on 20% of $RAY at 2.3, rotating into $C98 at 0.0156 — my reasoning
I made a small rotation trade this week and wanted to share it for everyone’s reference:
🔹 Sold 150.9 RAY at 2.3 (cost basis ~1.5, profit ~53%)
🔹 Used ~347 USDT to buy 22,235 C98 at 0.01561
Why take some profit on RAY?
RAY had a strong run in September, then gained over 20% in the first week of October and is now approaching resistance around 2.58–2.60. The fundamentals are still solid: Q3 spot volume was ~16.1 billion USD (+17% QoQ), fees were 57 million USD, and ~4.58 million RAY (~1.7% of the circulating supply) have been bought back. But after a fast run-up, a wave of profit-taking is possible, so I’m keeping 80% and taking profit on 20% to lock in gains.
Why C98?
Honestly, C98 is a position I’m deeply in the red on (~-70%), having bought at a much higher price. I don’t expect it to return to my cost basis anytime soon, but at a market cap of around 16 million USD, the wallet is still regularly rolling out features (it recently integrated CertiK Token Scan and added Robinhood Chain). I’m willing to average down using profits from RAY rather than putting in more of my own money.
Risks I’m willing to accept:
- RAY could keep rising, meaning I sold too early.
- C98 has low liquidity and high volatility, and could continue to fall.
What are you doing with the coins that gained in September? Taking profits gradually or holding on?
Not investment advice — just my personal trading journal.
#RAY #C98 #Solana #DeFi
I made a small rotation trade this week and wanted to share it for everyone’s reference:
🔹 Sold 150.9 RAY at 2.3 (cost basis ~1.5, profit ~53%)
🔹 Used ~347 USDT to buy 22,235 C98 at 0.01561
Why take some profit on RAY?
RAY had a strong run in September, then gained over 20% in the first week of October and is now approaching resistance around 2.58–2.60. The fundamentals are still solid: Q3 spot volume was ~16.1 billion USD (+17% QoQ), fees were 57 million USD, and ~4.58 million RAY (~1.7% of the circulating supply) have been bought back. But after a fast run-up, a wave of profit-taking is possible, so I’m keeping 80% and taking profit on 20% to lock in gains.
Why C98?
Honestly, C98 is a position I’m deeply in the red on (~-70%), having bought at a much higher price. I don’t expect it to return to my cost basis anytime soon, but at a market cap of around 16 million USD, the wallet is still regularly rolling out features (it recently integrated CertiK Token Scan and added Robinhood Chain). I’m willing to average down using profits from RAY rather than putting in more of my own money.
Risks I’m willing to accept:
- RAY could keep rising, meaning I sold too early.
- C98 has low liquidity and high volatility, and could continue to fall.
What are you doing with the coins that gained in September? Taking profits gradually or holding on?
Not investment advice — just my personal trading journal.
#RAY #C98 #Solana #DeFi