LEO and Binance Coin (BNB): A match made in heaven
While the crowd is dumping their LEO to buy CUB in anticipation of the next IDO, we make an argument to do the opposite.
The last time we put Binance Coin (BNB) in the spotlight, it was moving in the opposite direction to LEO.
This meant that our bLEO:BNB LP on Cub Finance was automatically selling BNB from our stake and buying LEO to balance our position in the pool.
But as the LEO token starts to find some demand on the back of some massive buy orders going through the book recently, the LP has started to balance out again.
Meaning that all is right in the world and the LP is functioning exactly as it’s intended to function.
They really are a match made in heaven and while everyone is selling their LEO in order to buy CUB in anticipation of the next IDO, there’s an argument to be made that you should be doing the opposite.
BNB price primed to break out of resistance
While LEO has been roaring back to life, the Binance Coin (BNB) has been temporarily capped by resistance
Just take a look at the following BNB chart on TradingView.
But how long is the price of BNB going to stay capped by this resistance zone?
Once it goes, you can see that the next stop is resistance at BNB’s previous all time high and then just like everything else, fresh air above.
Price discovery.
Once this initial resistance zone breaks, we’re likely to see price rush higher to that next level.
But will the LEO price rise too?
So for those in the bLEO:BNB LP on Cub Finance, the question then becomes will LEO continue to rise alongside a BNB breakout?
Remember, the ideal outcome for liquidity providers is that both assets rise together as one.
In my opinion, the answer is yes.
You see, LEO is in a unique position.
Not only is the second-layer token set to rise on its own due to an upcoming inter-blockchain link to Polygon (and continued mobile app release).
But it will always benefit from any repricing that we know is coming to HIVE itself.
I just can’t see a scenario where BNB makes a new high and HIVE doesn’t follow, thus dragging LEO up along with it.
Reconsider dumping your LEO to buy CUB and in fact, even consider doing the opposite.
LEO and Binance Coin (BNB) - They really are a match made in heaven.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment and share your thoughts on LEO and Binance Coin (BNB) within the comments section below? All comments that add something to the discussion will be upvoted.
This Binance Coin (BNB) blog is exclusive to leofinance.io.
Posted Using LeoFinance Beta
It's a tough choice to decide where to invest. My biggest position after the DEC pool is the bLEO/BNB pool but I also like the CUB/BUSD pool due to the high APR. I have no idea when Khal would release news about the Polygon IDO either.
Posted Using LeoFinance Beta
With yield on the CUB:BUSD LP almost double the bLEO:BNB LP, I can see why people are drawn to it.
But in the end, value from ALL blockchains is going to feed back into the LEO token.
So while you may not earn as much up front, there is potential to make more when the price of LEO eventually rises.
Introducing PolyCUB
Haha and just like that, we today get the Introduction to PolyCUB announcement.
And instead of the release being an IDO like we thought, it's instead going to be an airdrop to CUB holders.
From a bLEO:BNB LP perspective, it's going to be interesting to see if the yield goes up as people pull their money from that pool and place it in the CUB Kingdom in order to earn the maximum airdrop.
Either way, exciting times ahead for us all! :)
Posted Using LeoFinance Beta
Yea I saw the announcement and I am a bit surprised it's not a IDO. I think it's still fine though but looks like the bLEO/BNB holders lose out on the airdrop though.
Posted Using LeoFinance Beta
I keep buying leo every day and I won't stop but I have never consider cub and I consider that maybe later..
Posted using LeoFinance Mobile
CUB was actually my first foray into the world of DeFi.
The release sort of pushed me to learn about yield farming and the possibilities available on some of the other blockchains outside of Hive.
If you're even a little bit interested, I highly recommend you go through some of the Tutorials in the Cub Finance Docs sections and set yourself up even with a small position.
Fees on BSC are negligible and more than made up for via the yield on offer.
CUB vs LEO
My mindset is similar and I'm more interested in accumulating LEO rather than CUB.
But the cool thing is that you don't even have to invest in the CUB token itself if you don't want to.
CUB is just the rewards token that your yield is paid out in.
Simply wrap your LEO into bLEO and pool it with BNB to earn CUB, which you can immediately sell back for LEO if you like.
Pretty cool :)
Posted Using LeoFinance Beta
I really started just trying to figure out HIVE to get into Splinterlands and got dragged down the rabbit hole reading about Leo and Cub ... and I still can't wrap my head around what I need to do. Total n00b on crypto and DeFi. Should I buy ETH, should I buy BNB, what do I do next, What is farming, what is stake, what is hive ... so many questions, its making my head explode. May have missed the Leo and Cub boat but hoping to figure it all out by the time PolyCub rolls out. I need to re-read those tutorials! Will be fun ride once I figure it all out...
Posted Using LeoFinance Beta
I think I'm actually in love with that pool you know!
Posted Using LeoFinance Beta
Hands off, she's mine! ;)
But seriously, now that the team have released more details on PolyCUB, what are your thoughts?
I found your leaving Polygon blog interesting, but has this changed your mind?
As someone who's been using that network, I'm definitely interested in hearing your opinion.
Posted Using LeoFinance Beta
Hey @forexbrokr, sorry to jump in off-topic.
Do you mind reviewing and supporting the Hive Authentication Services proposal? That would be much appreciated.
Your feedback about the project is welcome too.
Thank you.
But what are your thoughts on the bLEO:BNB LP?
Posted Using LeoFinance Beta
To be honest, I'm not a LEO:BNB investor. Can hardly provide you with any thought 😞