With Ethereum up over 10% in the last week, the timing couldn’t have been any better.
As institutional buying ramps up with several million-dollar purchases of Bitcoin in the last few weeks, the optimism has seemed to have brought up prices for Ethereum as well.
Ethereum currently is outperforming Bitcoin and we saw Ethereum prices flirt with the $390 range earlier this week. And while defi investors will of course love to see their portfolios go up yet again — reapers also benefit, thanks to our mining farms.
We’ve mentioned in articles in the past that profitability remains at 25% APY even if Ethereum were to tank into the $200’s, so the opposite is also true. Increasing Ethereum price will mean increased dividends for our holders when we come online in the following weeks.
As word of a new defi project providing users with a truly unique income source spreads, circulating supply from exchanges will quickly evaporate. $PYLON seems to have found steady support at $150, with price cleanly bouncing upwards every time this week it’s touched $150.
We’re very excited for the new few weeks, as we work tirelessly in the background to get the farms online and finally producing a cashflow.
This is only the beginning — and things will only continue to improve from here as money is continuously reinvested into $PYLON and the ecosystem grows.