Hive Pump & Leo Dump | Confusion among Holders
A lot of people especially who are new to crypto space, are asking why Leo isn't going up while hive is pumping. This post tends to elaborate the situation and variables involved in here. Let's dive in.
First thing first, Hive just broke its all time high price and there is a new ATH on Binance which is 106 cents ($1.06) which is really cool. It is currently trading around 80 cents which isn't that bad considering last 2 months. Almost everyone who is hive pro is having goose bumps & thinking why didn't they accumulated more when it was still 12 cents.
As per coinmarketcap, LEO ATH is around 1.2$ &is currently trading at 80 cents. As leo is a hive base project, people especially the new commers think that leo will remain stable interms of hive when hive is pumping but that's ain't the case. LEO has been quite stable in terms of it's $ price, either hive is pumping or dumping. How can that be possible?
LEO is currently tied with two other blockchains, ETH pair & BNB Pair. So when Hive pumps, Leo price in terms of $ on hive chain goes up which creates a price difference between leo price on hive and other two chains. Now, people think that LEO should also gain value as hive is pumpig but it's not taht simple, buying and selling at ETH pair costs a lot of fees. SO unless there is a huge price difference and someone can make profits, it's hard to disturb ETH/LEO pair that fast. So, when hive pumps people sell LEO for hive to balance out the price difference because on hive it costs no fees, and easy to use. Now BSC has lower fees than ETH but still got little fees tha ETH, it can also play an important role in terms of price action.
But to me LEO/ETH pair seems to a leopeg price, and others two pairs will adjust them according to ETH price because of fast transactions and low fees. Unless, ETH price shoots away and there is a huge price difference among ETH and other pairs, that would be the case to pump LEO on ETH.
Share your thoughts in comments.
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a few hours ago it was on a good climb hive, I hope not to miss the train next time to sell
Posted Using LeoFinance Beta
All my hive is locked up. So I just enjoy the pumps. :)
There is no confusion here, LEO sucks! HAHA LEO damp eeew! CUB too! Haha~!
Feel free to dump them... :P
Nope, I'm holding mine. Just cause I say one thing don't mean I am gonna react with emotion. Just cause I think its is a centralised scam doesn't mean u all won't still keep buying and boosting the price up. I got over 5000 LEO not selling a single one ever! I got tons of coins all over that I just leave for ded I just HODL. I fud these don so I can buy more cheap lol, I'm smarter than that! LEO back to 45 cents plz! haha
Nice, I ain't selling mine as well. It's worth holding than seeing it moon after selling.
Hey what’s the link to LEO? Where do I find this Leo I hear I might have forked coins on?
You definitely have some LEO, see!!
https://hive-engine.com
https://leofinance.io
https://peakd.com/@geneeverett/wallet/hive-engine
It's crazy to see it finally going up, after 3 depressing years! 😁
Now... let it ride! 🎉
it's exciting :)
Enjoy the pump guys.
I was wondering about the same but could not understand.
Thanks a lot for explaining this to us.
It’s really helpful.
Take acre and have a good day
Thanks :)
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