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LEO and Binance Coin (BNB): A match made in heaven

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forexbrokr.
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While the crowd is dumping their LEO to buy CUB in anticipation of the next IDO, we make an argument to do the opposite.

The last time we put Binance Coin (BNB) in the spotlight, it was moving in the opposite direction to LEO.

This meant that our bLEO:BNB LP on Cub Finance was automatically selling BNB from our stake and buying LEO to balance our position in the pool.

But as the LEO token starts to find some demand on the back of some massive buy orders going through the book recently, the LP has started to balance out again.

Meaning that all is right in the world and the LP is functioning exactly as it’s intended to function.

They really are a match made in heaven and while everyone is selling their LEO in order to buy CUB in anticipation of the next IDO, there’s an argument to be made that you should be doing the opposite.

BNB price primed to break out of resistance

While LEO has been roaring back to life, the Binance Coin (BNB) has been temporarily capped by resistance

Just take a look at the following BNB chart on TradingView.

But how long is the price of BNB going to stay capped by this resistance zone?

Once it goes, you can see that the next stop is resistance at BNB’s previous all time high and then just like everything else, fresh air above.

Price discovery.

Once this initial resistance zone breaks, we’re likely to see price rush higher to that next level.

But will the LEO price rise too?

So for those in the bLEO:BNB LP on Cub Finance, the question then becomes will LEO continue to rise alongside a BNB breakout?

Remember, the ideal outcome for liquidity providers is that both assets rise together as one.

In my opinion, the answer is yes.

You see, LEO is in a unique position.

Not only is the second-layer token set to rise on its own due to an upcoming inter-blockchain link to Polygon (and continued mobile app release).

But it will always benefit from any repricing that we know is coming to HIVE itself.

I just can’t see a scenario where BNB makes a new high and HIVE doesn’t follow, thus dragging LEO up along with it.

Reconsider dumping your LEO to buy CUB and in fact, even consider doing the opposite.

LEO and Binance Coin (BNB) - They really are a match made in heaven.

Best of probabilities to you.



Direct from the desk of Dane Williams.

Why not leave a comment and share your thoughts on LEO and Binance Coin (BNB) within the comments section below? All comments that add something to the discussion will be upvoted.

This Binance Coin (BNB) blog is exclusive to leofinance.io.

Posted Using LeoFinance Beta