Time for a short recap on my Drip investment from August 16th, so pretty much 2 months ago. I bought 10.65 Drip Tokens by investing 100 USD into Drip (article here). Token price was around 9.70 USD back in the day. The tokens were deposited in the Faucet to profit from the 1% daily reward and compounded on a regular basis. I didn’t compound on a daily basis, but still regularly. So how does my investment look like today?
There is some movement in the token price currently. I assume probably due to the launch of the Animal Farm later today (see my other articles). The token is as per the time of writing of this article worth 6.18 USD as per the Drip page. This is a loss per token of about 34% compared to the original investment. As mentioned already in another article, I had probably quite bad timing in entering the Drip system….
Lets now see how much we profited through the 1% daily reward system of Drip in the 2 months (63 days to be precise). I just compounded to show you the current amount I got in the meantime. We started form 10.65 in August:
So per today I do own 19.22 Drip tokens. Not yet doubled, but pretty close to that. The power of compounding interest. Also interesting to see is that with the current price my overall investment is worth 119 USD. Even with the token price decrease we gained around 20% overall.
I still like the Drip system with its daily compound interest system. I do also expect a raise in the token price in the coming weeks and months. Mostly due to the launch of the Animal Farm providing finally a utility for the Drip token. There will be quite some marketing around the two platform which hopefully will help also the Drip token to gain momentum again. We also have to remember that the overall market conditions are still not great. The Crypto Fear & Greed Index shows 22, which is still in the “Extreme Fear” area. Given the current market conditions, my little Drip investment did pretty well with a 20% increase in 2 months time.
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