On Sunday, Madhya Pradesh registered a historic first win against 41-time Ranji champions Mumbai. It was a dream come true for Madhya Pradesh coach and domestic cricket legend Chandrakant Pandit, who himself missed out on winning the trophy 23 years ago when he last batted for MP as captain in 1999 . With this win, Pandit now has six Ranji Winning to his name as a coach.
It turns out that their stunning victory in the Premier Domestic Test Cricket League may hold some lessons for potential and worried investors who are currently bleak crypto market,
At $953 billion, the current global crypto market cap is weathering the “crypto winter”. Globally, crypto exchanges are sharply cutting their workforce, authorities are scrambling to regulate crypto seriously and there has been overwhelming caution and mistrust among crypto investors following the Terra-Luna stablecoin crash last month. which wiped out $60 billion.
India also continues its hostile stance on crypto. From July 1, 1% TDS on all VDA (Virtual Digital Assets) sale transactions above Rs 10,000, which was proposed during Budget 2022, will be applicable. To add to the woes of investors, the government is also considering imposing an additional 28% GST on cryptos.
But while this market will take its sweet time to recover and stabilize, here is how you can beat all these crypto blues the OG Ranji champion way.
It’s not always about the big names
Mumbai has practically owned the Ranji Trophy since its inception in 1934. And with popular, experienced players like Prithvi Shaw, Yashasvi Jaiswal, and Dhawal Kulkarni, Mumbai looked set to win this time as well.
There, there were MPs. There was no notable name other than Rajat Patidar who made his name in IPL 2022. Even die-hard cricket lovers will miss out on remembering MPs Yash Dubey, Kumar Karthikeya or Gaurav Yadav.
Like Cricket, the crypto world is also full of potential projects and coins. But they mostly remain undiscovered in the shadow of Bigwig and hyped-up counterparts (in this case, Ethereum and Bitcoin).
Hence it is essential to take a DYOR (Do Your Own Research) approach and get into the macro-economic points of view before investing in cryptos rather than succumbing to the market noise.
DYOR is only for your market participation and accountability and not for your understanding of the crypto world. The thing is, there is so far little structured knowledge in this space. This means people with threadbare experience claim to be experts. So, when you decide to invest your hard earned money in crypto, don’t follow their advice.
Take polygons for example. The Made-in-India blockchain continues to outshine the ongoing bear market, jumping almost 45% since last week. Recently, blockchain has also made serious progress in becoming more environmentally friendly.
If you remember, massive carbon emissions have haunted crypto mining for the longest time. But Polygon retired $400,000 worth of carbon credits (104,794 tons worth) of the greenhouse gas, which is about the total CO2 emissions so far. Essentially, mining on the Polygon blockchain is now cheaper and also more environmentally friendly. win-win?
Another lesser-known category of cryptos that are making it to the moon are the Metaverse tokens. a Kraken The report shows that despite all the altcoin bloodbath in 2022, these coins are up almost 400% this year. These days, all major brands, national and international, are establishing themselves in the metaverse.
Take Sandbox, for example, which has grown by 35% over the past seven days. It comes just as Meta, Microsoft and 33 other companies come together to form the Metaverse Standards Forum, which plans to develop an inclusive, open and cooperative Metaverse.
recognize your shortcomings
Despite all his achievements in cricket and coaching, Chandrakant Pandit has said on several occasions that his aggressive, meticulous management methods will not work on the international scene. Their Taskmaster-ish, remote control approach, with little or no room for player input, is notorious.
There have also been reports of him slapping a player who broke the rules and snatching players’ phones. Despite all this, he continues to produce impressive, regular results in the Ranji Trophy.
Most of us follow the herd when it comes to choosing crypto coins. And more often than not, we pin all of our pitfalls and losses to simply wayward markets, rather than lacking our own strategy to navigate this highly volatile market.
This shakeup should serve as a reminder to reevaluate yours, and reallocate your holdings in crypto. Short-term, overnight returns through Mem Coins can be extremely lucrative. But in the end, the underlying value provided by Crypto Project is what will drive your long-term value.
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