Lot's of energy on the chain of late for obvious reasons.
Hive going x2 in under an hour has that affect on people.
Hive spiking
So I had just dumped like 500 Hive for CUB and I was pretty annoyed that it spiked x2 immediately after that. But then I noticed something. No one had arbitraged the Hive on HiveEngine yet. Free money for me. I unlocked my CUB, sold it for bLEO, unwrapped the bLEO into LEO and dumped it.
After getting the Hive I think I dumped it around 80 cents. Traded that BTC back into bUSD, and that back into CUB. Took me 17 minutes to turn 489 CUB into 629 CUB. Thanks for the free 150 CUB fam.
Of course I was only able to do this because of the unwrapping bot. Normally you'd have to have HiveEngine tokens on hand to do something like this, as there is no other way to acquire those tokens except to have them at the time of a spike. Using the bridge to BSC I was able to get LEO on demand without using HE.
In any case, yesterday was a crazy day. To be fair the next 9 months are going to be riddled with crazy days. That's just the nature of the mega-bubble market.
Before I had to pop off to work this is how high my theoretical account value got too. Of course we see that Hive actually spiked to $1 so it was even higher than this. Crazy stuff. You know you're in the mega-bubble year when one of your bags goes +$80k in an hour.
But again, Hive at 80 cents? This is a baseline value. This is where we should have held ever since 2018. 80 cents is the fair price of tokens for this network, and hopefully the next time around there will be enough bulls who take gainz at the $5-$50 levels to support this new floor.
Hive has gone from 242 on the market cap to 173. In my opinion Hive is a top 10 coin, and it's very clear that getting into the top 40 would be trivially easy considering our value. We still have a long way to go.
When it really comes down to it you can't buy the kind of history we have. We defied a hostile takeover. The most obvious and direct attack vector against the network was thwarted with "ease". Vitalik is constantly talking about us because these governance issues matter quite a bit. We proved that DPOS is even stronger than it was thought to be on paper.
On the CUB side of things deposits have been reduced to 0% for 24 hours and APRs on the main farms have spiked massively. Already tons of users have moved over funds to the BNB LP to account for the difference in yield. BNB was only higher yield than BUSD for a moment. Now we are back to a 40% spread between the two within the hour. That being said, both pools are still have massive yields higher than 500% due to the changes in inflation. If I'm being honest I'm surprised more users aren't buying CUB to get in on this madness.
Conclusion
Looks like I may have money to fund a project or two earlier than expected. The mega-bubble feeds into itself and allow users like me to bring even more value to the ecosystem with proper management of funds.
If Hive can maintain this price my blog/curation rewards are about to skyrocket once again. Passive income is the best. At this rate I'll be able to quit my job or work bare-minimum hours by the end of Q2. One of these days I'll be a full time Hive kid. Good stuff.
Posted Using LeoFinance Beta
Return from 80 Cents is the FLOOR Price. to edicted's Web3 Blog
