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[AudraMiller]

The binance exchange is a well known crypto exchange and many that get into the crypto field often use this exchange as their first point of contact to purchase their first coins. According to a new program that was released by the exchange, there is a new staking program for the TVK coin, whereby the interest rate can be as high as 47.67% APY. This is a limited chance though and will be on a first come basis, and so it is encouraging users to buy the coin and stake it. What are your thoughts on this?

 

[Wisdom01]

The apy of the coin is high and pretty normal ,but my fear is that the coin shouldn't have huge price drops and many others after staking ,so i am still observing

 

[Niftyicon]

This helps to attract investors to the coin but the issue sometimes is that the APY works with the current price of the coin, which means as the price changes, the same is applicable to the rates.

 

[AudraMiller]

The apy of the coin is high and pretty normal ,but my fear is that the coin shouldn't have huge price drops and many others after staking ,so i am still observing

High interest rates are often paired with the coin dropping steeply in price especially after every payout cycle, because people would start to cash in on their profits, which is quite detrimental to the price and the coin progress and growth.

 

[Wisdom01]

High interest rates are often paired with the coin dropping steeply in price especially after every payout cycle, because people would start to cash in on their profits, which is quite detrimental to the price and the coin progress and growth.

Yeah it affects the coin growth once many people start withdrawing after the apy have expired ,only few investors still keep their funds on the coin

 

[LutherKing]

Exactly right , such coins have more than fall of their growth and it becomes a dump and pump scenario to be honest for traders actually

 

[AudraMiller]

Exactly right , such coins have more than fall of their growth and it becomes a dump and pump scenario to be honest for traders actually

I think that this is why people are very cautious when it comes to the staking of coins in a second run as the cash out of profits in the first run could nullify profits if you stake your coins for a very long extended period.

 

[Josemendez]

Well, Binance launches staking pool almost on weekly basis. This particular pool have quite a reasonable amount of APR and it is enticing.