Yields Tick Up Slightly As Market Shows Signs Of Recovery | DeFi Journey #8
The crypto market finally showed some life this week, with BTC climbing above $90k, ETH breaking past $1.8k, and SOL continuing to hold strong. I covered the latest market movements in my SPS technical analysis blog this week. On the DeFi front, I harvested $19.99 in fees, a slight uptick from last week's $19.68. My total deposits remain at $4928.71, unchanged from last week, as I am holding harvested yields on the sidelines to see if this rally has legs. The current value of my portfolio is now $3098.49, up from $2916.79, reducing my overall loss to $1366.36, including fees, since starting this journey when ETH was at $3.3k.
CLP - ETH/USDT - PancakeSwap, Binance Smart Chain
I harvested $7.93 this week, bringing total rewards to $186.39. My deposit is still $2213.00, and the current value rose to $1235.00 due to ETH's price increase, with a yearly APR of 35.84%. The total yields harvested for April were $27.09.
- In-Range: ✅
- Range Setup: $1204.29 - $2546.84 (75% wide)
- Rewards Farmed This Week: $7.93
- Total Rewards: $186.39
- Total Deposits: $2213.00
- Current Value: $1235.00
- Yearly APR: 35.84%
- Price Difference (Inc. Fees): -$791.61 (-35.77%)
CLP - WETH/USDC - Aerodrome Finance, Base
I harvested $5.39 this week, bringing total rewards to $177.67. My deposit is still $1663.40, and the current value rose to $923.49 due to ETH's price increase, with a yearly APR of 45.36%. The total yields harvested for April were $19.35.
- In-Range: ✅
- Range Setup: $1202.37 - $2545.32 (75% wide)
- Rewards Farmed This Week: $5.39
- Total Rewards: $177.67
- Total Deposits: $1663.40
- Current Value: $923.49
- Yearly APR: 45.36%
- Price Difference (Inc. Fees): -$562.24 (-33.80%)
CLP - USDC/cbBTC - Aerodrome Finance, Base
I harvested $1.01 this week, bringing total rewards to $7.10. My deposit is still $156.11, and the current value rose to $161.13 due to BTC's price increase, with a yearly APR of 28.09%. The total yields harvested for April were $4.36. This is the only CLP position in the green in my DeFi portfolio.
- In-Range: ✅
- Range Setup: $70604 - $100190 (35% wide)
- Rewards Farmed This Week: $1.01
- Total Rewards: $7.10
- Total Deposits: $156.11
- Current Value: $161.13
- Yearly APR: 28.09%
- Price Difference (Inc. Fees): $12.12 (+7.76%)
CLP - SOL/USDC - Orca, Solana
I harvested $5.66 this week, bringing total rewards to $92.70. My deposit is still $896.20, and the current value rose to $778.87 due to SOL's price increase, with a yearly APR of 57.10%. The total yields harvested for April were $38.68. SOL has been a shining star the past month in my DeFi portfolio, consistently outperforming the ETH positions in terms of harvested yields and price action.
- In-Range: ✅
- Range Setup: $97 - $180 (59.4% wide)
- Rewards Farmed This Week: $5.66
- Total Rewards: $92.70
- Total Deposits: $896.20
- Current Value: $778.87
- Yearly APR: 57.10%
- Price Difference (Inc. Fees): -$24.63 (-2.75%)
Concluding Thoughts
April's total harvest was $89.48, a sharp decline from $190.02 in February and $163.45 in March, reflecting the market's struggles over the past few months. This week's $19.99 is still below my $5 daily target, averaging just under $3 a day. However, the market's recent uptick gives me some hope. BTC's reclaim of $90k and ETH's push above $1.8k suggest a potential trend shift, though resistance levels around $90k-$95k for BTC and $2k for ETH need to be cleared for a stronger bullish signal. Reflecting on my strategy, I am glad I rebalanced my ETH positions two weeks ago, as they're now earning yields again. However, with ETH's volatility, I might extend my rebalancing wait time beyond 24-48 hours if the market remains choppy.
Thank you for reading and hope you have a good rest of the day!
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