This happened around 10 days ago and I was able to be locked into a lending position of over 1% for 2 days.
While the Lending market appears as though it is beggining to settle down, I was still able to lock myself into a position at 1.7% interest. While these rates likely won't last too long, if you hurry you may have a chance to take advantage of these abnormal interest rates. Bitshares has been performing extremely well over the past several months, and the value of my position has already doubled the amount I invested. I have been increasing my stake in Bitshares on a weekly basis for the past few months, and its really starting to look like this could just be the beginning.
With all of the upcoming interest that is likely to surround Graphene technology, the idea that Bitshares will only continue to grow in both size, practicality, and efficiency in the upcoming future. Even if you are just looking for a good buy and hold position to make some profits in a few months, I would currently say that Bitshares is one of the most promising investments you could make. Even if Bitshares doesn't gain mainstream adoption, the increased interest it receives in the future will likely also have an impact on the level of investment that Bitshares receives. I will write a post within the next few days that elaborates on why Bitshares and other platforms running on Graphene technology will likely be at the forefront of the cryptocurrency space over the next several months.
UPDATE: While there are now loan offers at lower rates, the major support is currently around the 1.9% level, so the possibility of a 1-1.8% rate still being taken is pretty high. If your interested try to place your offers as soon as possible!
I really hope that this post may have helped you, I'm really trying to get it out as soon as I can to enhance your chances of getting into a position. Thanks for reading!
Higher loan rates on polo are generally a bad thing. The higher the loan rate the more demand for shorting the currency there is as the market expects the price to drop.
The only high loan rate on polo that is good is BTC, because all of the margin accounts run on using BTC to buy other currencies expecting them to go up, not necessarily for BTC to go down.
Yeah a high lending rate does mean there is high demand for the coin on the lending market for short positions. While this would be a bad thing for a short term speculator or trader, I intend to hold my Bitshares for a long while, so the short term price levels really don't have a serious impact on my position. You're definitely right about the increased short positions being opened, thanks for your input.
I'm going to follow...this looks like some awesome advice.