In the short term we will likely see cubbies go pretty low. I jokingly made this graph of cub crashing the other day and I feel like reposting it again. ALSO, let this be a lesson to all the people who went in hard at 3 to 4.50 USD. Can't be FOMOing in on stuff or you are going to lose out in the short term ;0
Why the crash though?
Well, the FOMO isn't there anymore. It was there a few weeks ago, and the people who were going to get in and get on board the cubbie train did so. Essentially all the people in the crypto space who wanted to get into cubbies are in it and hodling now.
One of the main problems I have seen with the pairings is that CUB/BUSD pairing incentivizes people to continually sell their earned CUB and go half into BUSD so they can continually restake. That pairing probably shouldn't exist in my opinion because it is a stable coin and people feel safer going into that pairing. I will admit I continually am selling into BUSD and restaking. Yes there are other pairs like CUB/BNB where people are selling into and restaking too. I guess that is part of the issue overall, there is no deposit fee in those two and that's where the bulk of the coins will get created over time. Maybe there needs to be a deposit fee on EVERYTHING to stop level the dumping of CUB to restake. Just my thoughts on it anyway.
2 dollar cubbies. I am buying some more. Are you? I was thinking the low of cubbies would be somewhere around 1 USD or 50 cents. I didn't expect it to drop to 2 USD so soon, so my original thoughts may turn out to be true. IN THAT CASE, it makes sense to sell everything I have and buy the dip.
If you saw my post from the other day I said about buying on the way down to lock in profits. If you think a project is going to do well over time you buy on the way down and hodl, then when the price starts to spike you sell on the way up. Most people selling cubbies right now are eating some losses. You only take a loss on selling cubs in the short term because of fear of missing the bottom. The price of cubs likely won't go that much lower in my own opinion. As I said before, there is 500 million Uni tokens at a price point of 33 USD, CUB will only have 10 million made a year and is worth 2 USD now and is going to have way more advanced features.
I am not a financial advisor, do your own due dilegence and speak with a profession CUB trader.