CUB is quickly becoming the best DeFi platform out there. Yes, we can all say that "hopium" seems to be a common theme on Hive but that is not the whole story here.
The whole Leo Verse economy has struggled a bit in this bear market, losing a lot of valuation quite quickly alongside the rest of the market.
With that in mind, we are seeing CUB actually start to turn around.
CUB has been steadily outperforming the entire crypto market for the past several weeks now, since the launch of the multi-token bridge.
What exactly does this mean for CUB? What does it mean for the Leo Verse economy?
In the focus of the day, we'll look closer at what it means for CUB..
Follow along as I report daily on @cubdaily 🙏🏽
Focus of the Day
While many people have cast their doubts about CUB over the past 1.5 years, we've seen a completely different story take hold lately. Now, we're seeing CUB actually outperform the rest of the market.
The CUB price is rising exponentially. Up 25% this week while the rest of the market is negative.
That's quite a feat. Decoupling the rest of the market and turning positive simply because of the high level of burn activity.
We need to see this trend continue. If we see CUB baseline at these new prices - as it is looking to already have done - then the APYs on all https://cubdefi.com/farms will also be higher.
What's happening there is that the APYs increasing attracts more Multi-Token Bridge TVL. That increased TVL = higher burns of CUB = higher CUB price = increased TVL.
The virtuous cycle seems to be taking shape. That snowball effect we've all been waiting for.
The MTB TVL grew from $500k to $574k over the weekend. That's AWESOME growth! Keep it up people! Keep wrapping that HBD and HIVE over to BSC!
CUB Token
- Price: $0.0257
- Total CUB Supply: 17,688,329
- Total CUB Burned: 1,072,408
- Total Market Cap: $454,556
Multi-Token Bridge Stats
- bHBD-bHIVE: $100k
- bHBD-BUSD: $216k
- bHBD-CUB: $130k
- bHIVE-CUB: $126k
- Total: $572k
In the last report, we had just crossed $500k for the first time... This is nearly a 20% increase in MTB TVL in just a few days!
CUB Burns
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There is an issue again showing the chart of burns on BSCscan... This happens sometimes because of the BSCscan APIs. Usually sorts itself out in a few days time.
As you can see, the burned amount of CUB keeps climbing. We started August 2022 (8 weeks ago) with only 517k CUB burned and are now nearing 1.1M CUB burned.
Things are getting super exciting for CUB. You can tell that market sentiment is starting to turn when you see the price of CUB - up over 25% this week.
Further Reading:
- Latest Reports From this Account: @cubdaily
- Latest CUB Burn Report From the LeoTeam: https://leofinance.io/@leofinance/cub-s-first-monthly-burn-report-or-august-2022-204k-cub-bought-and-burned-50-yield-on-hbd
About CubDaily
I'll be using this account to report on the CUB stats each and every morning. Together we'll track the growth of CUB under the completely revamped ecosystem that LeoTeam has built called the Multi-Token Bridge.
Posted Using LeoFinance Beta
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