Is Hive pumping DEC to the peg?

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2 min read


The price of Hive in the market makes for good reading. It's not like we experienced an earth-shattering pump but seeing greens and Hive pump above 50 cents was good for morale.

I was asleep when the Hive pump occurred, so I wasn't able to experience it in real-time but I saw the notification in my market monitoring applications. I set various apps to give me notifications whenever Hive reaches setting points and 50 cents is one of them.

50 cents isn't an incredible number, we've seen Hive trading at much higher rates, so there's not much to celebrate. However, if you've been around the block for a while, you'll know that events like this minor pump tend to be precursors for something more substantial.

In some events, the colossal pump comes freshly after a minor pump and in other times, it takes a while. It is important to note that this pump is quite similar to the other flash pumps we've experienced in recent times.

Data from Coingecko shows that the majority of the trading volume is coming from Upbit exchange with the usual Hive/KRW pair offering an unusually large trading volume. Binance exchanges Hive/USDT and Hive/BUSD trading pairs are next in line, while other Korean exchanges like Upbit that include Bithumb and BKEX follow with decent trading volume but the other changes are much lower.

If this recent pump to 50 cents follows the pattern of previous pumps, then the next couple of days could see Hive start pushing for $1 range. I don't it will stay at that level for too long but it'll definitely be enough to take profit.

DEC responding kindly

On Hive-engine, there's a DEC/Swap.Hive trading pair and my hunch is that DEC's recent move towards the desired peg is partially due to the Hive pump. There's been a slight bump in the solar value of all Hive-engine tokens since the pump, even though some of them are losing against Hive in the process.

At the time of writing, DEC is trading at $0.00085 and is just a 16.4% pump away from reaching the peg. Actually, earlier today, DEC got to $0.00092 and was just an 8.6% pump away from reaching the peg, at the time.

This is probably the closest DEC has gotten to reaching the desired peg since the SPS airdrop started and the price of assets was going crazy. I doubt we'll ever reach that level of mania in the SPlinterlands marketplace but it was nice while it lasted and I'm glad I experienced it to tell the story.

Posted Using LeoFinance Beta