CryptoTrading: pHBD<->HBD arbitrage Profit sits tight around $0.1
HBD staying strong amid Crypto market bleeding
As Bitcoin keeps dipping down towards $30k price, every other crypto is busy dipping with it and this is making the #cryptotrading hashtag trending on Twitter today. But is looks like Hive's stablecoin - HBD (Hive backed Dollars) prefers to do an anti-Bitcoin price movement. My crypto portfolio presently shows three green coins - HBD on Hive, pHBD on Polygon and POLYCUB.
It is really exciting as the Hive blockchain is journeying organically into being a home for every crypto investor who wants to make profits sustainably. There's a lot of FUD with Bitcoin as to how far it'll continue to dip before the next bull. Several traders are already losing -40% to -200% as the case may be as other assets are affected too.
Amid this fear and uncertainty, HBD investors are smiling with the assurance that their 20% HBD savings interest is intact while their investment capital is also highly protected. The solidity of HBD at around $1 is something that pitches Hive to be the best blockchain and this can be linked to the increasing HBD utility.
Weeks ago, @LeoFinance DeFi branch integrated HBD into the Polygon network as pHBD](https://leofinance.io/@uyobong/how-to-wrap-hbd-into-phbd-for-phbd-usdc-polycub-defi-pool) via the PolyCUB DeFi pool. pHBD pooled against USDC remains one of the viable vaults in the PolyCUB DeFi.
With close to $400k worth of liquidity, pHBD is also serving as a deep liquidity market for HBD and this gives a safe gateway for entry/exit of crypto investors without the fear of losing their funds to market slippage. Moreover, pHBD-USDC gives a high APR of 40% in addition to the PolyCUB vault APY of 30%, this bringing everything to about 70% APY.
pHBD<->HBD arbitrage Profit sits tight around $0.1
One of the huge benefits of the creation of pHBD is the arbitrage opportunity it creates for crypto traders. This is a big wealth spot that cna be harnessed by anyone. However, it wpuld benefit the whales the more.
Wikipedia views arbitrage from the perspective of economics and finance as the practice of taking advantage of a difference in prices in two or more markets. That is, striking a combination of matching deals to capitalize on the difference, and taking profit from the difference between the market prices at which the same unit of the asset is traded. source
Presently pHBD (on Polygon) trades at $1.01 while HBD (on Hive internal market) trades at $0.9. The difference between the prices of the same asset is $0.1 and that is the arbitrage profit for a trader who buys HBD on Hive, wraps it and trades it on Polygon for USDC.
With this development, a $1000 trading investment would yield $100 for a trader as profit and this can be turned over as frequent as possible with the deep pHBD liquidity on PolyCUB.
What are you waiting for? LeoFinance is helping trades et richer. The more trading that pHBD does in a day the better for the POLYCUB revenue as there is a small fee that is attached which would be used to buy back the scarce $POLYCUB for PolyCUB investor's benefit.
It's a win-win for all. Don't wait to be told. While the FUDsters are dumping, take advantage of the market and grow your arbitrage profits trading Hive Backed Dollars.
Join Hive Here and start a new work!
What is Hive?
Hive is an innovative and forward-looking decentralized blockchain and ecosystem, designed to scale with widespread adoption of the currency and platforms in mind. By combining the lightning-fast processing times and fee-less transactions, Hive is positioned to become one of the leading Web3 blockchains used by people around the world. source
About me...
I am a called teacher, a serial entrepreneur and a Graduate of Agricultural Engineering. Nigeria is my root and a place full of opportunities. I dropped out of a Master's Degree program due to funds, yet I do not regret growing the courage to start my business from the scratch. Today, I've built layers of Businesses on the Hive blockchain in terms of Curation and it's a sustainable passive way of earning crypto while learning.
I am your favourite Hive Tribes Promoter and Curapreneur!
I am @Uyobong.
Let's connect on Twitter
Posted Using LeoFinance Beta
They told me if I killed myself now it would save the lives of countless others.
Saying the longer I wait to kill myself the more people will suffer.
They are reckless and should have shown the proper media what they had before taking me hostage for 5 years. I know there are many in prison that dont deserve to be there because of this. Your stay in prison will not be fun @battleaxe and friends. People are going to want you dead when they find out what you did. I hope you die a slow painful death. You sick mother fuckers.
https://peakd.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem
Its a terrorist act on American soil while some say its not real or Im a mental case. Many know its real. This is an ignored detrimental to humanity domestic and foreign threat. Ask informed soldiers in the American military what their oath is and tell them about the day you asked me why. Nobody has I guess. Maybe someone told ill informed soldiers they cant protect America from military leaders in control with ill intent. How do we protect locked up soldiers from telling the truth?
https://twitter.com/Uyobong3/status/1523660799855661056
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STOPCheck out the last post from @hivebuzz:
Honestly, I'm watching the FUD happen on Twitter and I'm happy to see what HBD is doing, Hive is honestly undervalued
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But why is it hard to get Hive noticed with all of these?
Posted Using LeoFinance Beta
It's marketing, our marketing hasn't quite hit it. This isn't because efforts hasn't been made. It's been made, just that it hasn't hit it.
Posted using LeoFinance Mobile
And what's the way forward with this? How do we scale our marketing of Hive?
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It's the same question I'm asking. I think from rebranding and hitting the right audience to also creating a dominance on social media. Another thing is trying to break into the top 20 or 50 coins.
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Can you clarity a little about this. Or have you shared thoughts on this via a post?
I know we have a lot of work here especially with having a proposition that would onboard corporate organizations who would be willing to invest millions of $$ here.
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Polygon market surely offers a great price on the trade.
Thank you for this article. Peace