What Hives Pump Could Mean
What Hives Pump Could Mean
If you're like me and you've been around since the start of hive or even the last two years of hive you know these dumps in prices randomly happen from time to time. In every case including this last one it's been Upbit with HIVE/KRW which has pushed the most volume for these price spikes. IN fact it accounts for 83% in the last 24 hours or 238 million dollars.
The possible issue with that is that's pretty much the entire market cap of Hive right now. Which shows it's very susceptible to switching hands and it firmly seems to target Korea yet again. Could the issues of Steem days happen again with Hive simply because of it's low market cap? Personally I haven't got a clue but it kind of feels that way.
The Korean and chinses communities on hive have recently been growing like crazy.
CUB / LEOFinance
If you didn't know already CUBDeFi operates on the Binance smart chain and connects with Hive. As the price of hive goes up and transactions/swaps take place on CUB for HBD and Hive along with a few others those fees start to build up higher in $ value. That's because the tokens being swapped have increased in $ value so the swap is worth more then I goes and buys CUB at the still same price.
I'm eager to see tomorrows CUB burn report which could be around 10%+ higher at least just because of price value. But I'm also very curious to see if there's a equal uptick in volume meaning more people are using the swap and DeFi platform on price moves.
Hive In General
It's clear that hive is moving away from a blog only platform to a proof of brain value across many platforms. But really I now look at hive as more of a base line resource while the layer two tokens such as LEO, DEC, SPS and so on as the core tokens to use. Hive more sits on the backend for me now collecting and growing my resources so I can continue to do more.
My hopes are that not every social platform that is launched on hive uses hive. Why? I'd legit be eating through my hive voting on things and not using the layer two tokens effectivly. It would cause me to have to create a new account for every new token or social platform so I'm not totally destroying my vote value of hive.
My hopes are that perhaps as we roll out new platforms that hive wont be used at all in the vote or that there is a way to opt out and only use the layer 2 token.
A example of this would be Project blank or Leothreads. I'd much rather only use LEO and not LEO/Hive in my votes on there. The only way I can do that right now is to create a brand new account and that's just not optimal.
What are you thoughts on recent hive moves? Are there risks of being taken over? Or how would you like Hive to operate on layer 2 platforms moving forward?
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I do nothing and I keep going as usual. A small pump is frequent and will occur again.
It means there were a couple of Koreans up in the middle of the night.
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They must be loaded!
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As soon as this pump happened it was kind of certain that bunch of Koreans with big money are playing some tricks up there sleeves. While the fact is HIVE kind of needed this bolt and jolt during this bear market. In fact almost everyone was able to get something out of this pump. Some saw the excitement, some made some free HIVE while some gained some more access to the layer two coins. But either way it is kind of a bad side as well. What if they can rise the market in an instant which on the other way they can literally let the market fell down if only they wish so. It can happen and if that happens that's a scary thought indeed. But either way those Koreans are indeed with deep pockets that I must admit!