How Low Can We Go?!
Looking at crypto in general, it's not looking good. Everyday it looks like the slump just keeps on slumping. Crypto is slumming it. And it looks like it will keep being dragged in the sewers.
I thought CUB was immune, but I wrong. Look at how much of a steady dump has been happening on CUB:
It's like a constant. Like a straight line from April 19th onward. Sure there have been some surged down then back up, but overall, it's a straight line until May 10th.
That's when it starts to curve even more steeply downward. When CUB broke the $2 support floor, it seems to have progressed to sharper selling off.
So why is this happening?
Well, my guess is that this is coming from people who are not at all staked in CUB. They are either in a farm or a den, but the point is that they're not losing any of their assets that they staked. If they're in a farm, it's not paired to CUB, and they're not having impairment loss from the matching pair being sold off to buy more cub that keeps depreciating in value.
If there in the stable coin farm, that's the most stable place to be in. And if they're in a den for another crypto, none of those are at risk apart from a rug pull. In all these cases, these people are perfectly fine dumping their cub, and continuing to do so indefinitely, forever, until the end of time.
This is what I see happening. A lot of these people were dumping at the top and dumping on the way up, and dumping on the way down. They've been dumping all the time because it's just free money for them. Their staked assets aren't dependent on CUB at all.
They don't care about CUB. They just want to make money. And so they have been. For weeks and months.
CUB tanks, but they don't care, they are out to get as much value from selling as they can. Sell sell sell they will. They won't buy. They will just keep selling.
Like I said, this will just keep going on forever and ever. There is no reason for them to buy. The rest of us that are holding, because we want CUB to succeed, or holding onto hope, the possibility that CUB will moon. We're holding onto a dream.
Why is it a dream? Because it's a vision of something that will happen in the future. Were hoping that our dream will come true. That our vision will become a reality. But it might not.
What we need is an influx of people buying CUB. Will that happen? I don't know. What will it take to make that happen? I don't know. But that's what it's going to take to combat all the people who got in and don't give a shit about holding, to combat the people who are just continually selling and selling and selling.
Everything they've been making is gravy for them. They've been selling at $1.40, $1.50, $3.00, $4.00, $5.00, $13.00. It's all profit for them with no losses if they never bought CUB and only staked tokens that they never lost in the first place, apart from IL.
Will the tide turn? What's it gonna take to turn the tide? Are all of us holders going to be holding something that's going to be worth pennies, while the sellers keep selling even when it's worth $0.50, $0.10, $0.01? We need people to want to buy CUB, and that doesn't seem to be the case right now. I have faith that will change with marketing and more utility. What do you think?
Posted Using LeoFinance Beta