Hey team,
With LeoFinance announcing CUB Finance or what the community is referring to as "LeoFi" on Binance, it's time to start looking at buying BNB if you're going to get involved.
As a result, let's spend our Sunday night taking a look at a few Binance Coin charts shall we?
Starting with the BNB daily chart below:
BNB Daily:
Looking at the immense rally that BNB has experienced in 2021, you could certainly be forgiven for thinking that you've somewhat missed the boat.
Here are a few reasons why that's probably not the right way of viewing BNB:
You're buying BNB to use in the LeoFi pool:
Just like ETH for Ethereum DeFi, BNB is needed for Binance Smart Chain DeFi.
You're not just speculatively buying and holding for no reason, you're buying to use it to provide liquidity in the CUB pool.
The fact that you need an equal amount of the chain's native token to participate in DeFi is what's driving the rally in BNB (+ ETH), and why I am so bullish on their future.
DeFi is only just beginning and is certainly here to stay.
Price has printed a pennant:
As you can see on that BNB daily chart, price has printed a juicy pennant.
As you can see on Investopedia, pennants are continuation patterns and in this case that direction is most certainly up.
If you beleive the first point to be true, this pullback from BNB's all time highs is most certainly a buying opportinity.
With that in mind, let's now zoom in and take a look at the intraday chart below:
BNB Hourly:
As you can see, price has pulled back to retest daily support and is just now starting to break out of the upper trend line.
Let's see if we get a momentum push on the back of this breakout, but as you can see from that chart, the writing has certainly been on the wall for a while.
Best of probabilities to you,
Dane.
FOREX BROKR | LeoFinance Blog
Daily market analysis.
Posted Using LeoFinance Beta
Thanks for telling us what the official Leo Finance posts do not, I have a little BnB, I wonder how much we will need to match the airdrop. Or does Cub get used this way? I'm glad we will finally get some details tomorrow!
Posted Using LeoFinance Beta
Usually it goes 50/50 in USD value when we talk about pooling and I'm expecting the same for CUB pooling.
Question is how much will cost a CUB, but we won't get the slightest hint before it's released :D
Posted Using LeoFinance Beta
I hope we find out today! We have been very patient so far.
Posted Using LeoFinance Beta
We’ve been VERY patient haha, but I’m feeling quite impatient now it’s coming in the next hour(s).
Posted Using LeoFinance Beta
I thought this was the case, but thanks for confirming for us :)
Posted Using LeoFinance Beta
It’s just the excitement making me roam around and comment on the topic haha.
Soon we will be trying it live ! :)
Posted Using LeoFinance Beta
I've never got involved in liquidity pools before, so not 100% sure.
Just trying to keep the USD value of my liquid LEO and BNB even...
Bring on the launch already!
Posted Using LeoFinance Beta
That's definitely a good move for the bLEO-BNB pool.
Now if you also want to be part of the BNB-CUB or bLEO-CUB you might want more liquid LEO available ;)
Posted Using LeoFinance Beta
I've got a little liquid LEO just sitting there waiting for the release.
I don't want to go too hard because honestly I still don't fully get how it all works.
This is going to be a good learning exercise for me as much as anything :)
Posted Using LeoFinance Beta
The good thing is we can go there with confidence as their won’t be a rug pull/exit scam. That’s one of the biggest risk we don’t have to worry about.
I’ve learnt the hard way how this farming thing can go south very quickly :)
Posted Using LeoFinance Beta
I found some BNB just sitting there minding it's own business from when it was only a few dollars and you needed it for Binance transactions. Now I'll HODL for the LeoFi launch!
Haha, certainly a nice little find then!
This will be my first foray into liquidity pools, so I'm really keen for the launch.
Posted Using LeoFinance Beta
I've been playing in the EOS DeFi space but not BSC. It will be interesting to see how it goes. Lots of potential
Posted Using LeoFinance Beta
The BNB price is definitely going up. We know how many projects have migrated/created new projects to take a piece of the BSC users pie like Leofinance. All these new projects will create a demand and the price will respond to that demand.
Posted Using LeoFinance Beta
Yep, this is what I'm thinking.
NFTs are the new shiny thing, but DeFi is where the real money is going to be imo.
And BSC is going to be a huge part of it, at least initially until the more decentralised Ethereum gets its shit together with fees.
Posted Using LeoFinance Beta
Have definitely been watchin that consolidation, almost ready to pop. This can be observed with a number of DeFi coins. After the big gains last month they have cooled a bit and are consolidating, getting ready for round 2? Happy trading
Posted Using LeoFinance Beta
Thanks again for your guide to using BSC With MetaMask.
It was definitely a help to me.
Posted Using LeoFinance Beta
My objective for next week is to get familiar with all Binance Smart Chain has to offer; should have done it sooner, but better late than never!
Posted Using LeoFinance Beta
I feel you there.
Been playing around with MetaMask and finally doing what I should have been doing years ago haha.
Posted Using LeoFinance Beta
See it on the bright side... better late than never! ;)
well, i am excited about the prospect of partaking in defi for the first time. My second holding will be on the binance smart chain. this also gives me the opportunity to stake some bnb too which I believe has a lot of potentials.
Posted Using LeoFinance Beta
Me too :)
Bring on the announcement already!
Posted Using LeoFinance Beta
Great!
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Yip!
Posted Using LeoFinance Beta
Yeah.... definitely stacking BNB on the dips has been the best way to go.
Posted Using LeoFinance Beta
While I somewhat agree with you, couldn't you also say that we've seen the cream from the 2017/18 ICO boom rise to the top?
There's no way I'm allocating a large percentage of my portfolio to DeFi, but I still believe it's certainly a growing space that is worth a play.