Is this the Hive pump that pumps the pump?
Ever since this minor Bitcoin pump started hitting the spotlight, I was expecting an outlier Hive pump. In my publication yesterday, I talked about the potential of Hive pumping to $1 and then subsequently settling at the 70 cents range,
At the time of writing, Hive is in the mood for a nice old pump and even reached the 60 cents range in the last few hours and looks like it will climb higher. I'm not going to lie, I didn't think we'd be seeing the pump so soon but I was absolutely expecting it.
Right now, I'm in the process of rounding up funds for our relocation plans, so this pump is coming at a great time. I really hope it is a sustained pump, as this will go a long way in reducing the burden that comes with moving.
According to my calculations, I'll be screwed sideways by the end of this move, so any pump and any extra income will be a welcomed boost to my plans. No boost can compare to the thrill that comes from a proper bull run and that's what I hope for right now.
Hive-engine response
Every time there's positive movement in the market, I like to check my Hive-engine wallet response. I don't necessarily do an in-depth check but just a surface comparison before and after the pump.
At the start of this recent pump, the unstaked assets in my Hive-engine were valued at around $450 and fresh after the pump, the value has jumped by around 50% to $637. That's a really nice pump and it mildly reflects the Hive pump.
A jump from 40 cents to 60 cents is also a 50% rise, so is it safe to say that my Hive engine wallet will pump symmetrically with Hive? This is hardly the case but it is nice to look at the growth.
Certain assets that I trade on hive-engine were not part of the calculation though. One of such is GLX token that I recently bought 11K units of.
I spent a bit over $220 to buy those GLX tokens and at the time of writing, they're now worth around $330, reflecting yet another 505-ish rise in value. It is pretty neat how these pumps are predictable and how they help you diversify on Hive.
Keep in mind that I staked the 11K GLX tokens and so this pump will be in the unrealised gain category. However, it is worth noting that I'm earning GLX at a decent APR, so the pump will still be nice to my bank account.
SPS token has also reflected the pump but the token was strangely overtaken by GLX. I honestly didn't expect that but at just 3.2 cents, it's not like the value is turning heads.
Leo has been fairly stable despite the pump and my hunch is that it is because the value of the token isn't quite tied to Hive in the way the previously mentioned tokens are,
LVL token spiked by 50% and the value of my collection jumped from $150 before the pump to around $220 today.
Generally speaking, Hive-engine tokens have reacted kindly to the pump and there are signs of good things to come. I'm very pleased with the timing of this pump and I hope it persists and pushes Hive to at least the $1 mark.
Posted Using LeoFinance Beta
