First signs of the Ethereum Flippening
Wow! What a rush, it's always an exciting time when a bull run is on and you see your bags moon. For me it is only Hive that is mooning which is in interesting phenomenona at current. Because if you look at the market not everything is green with massive gains as is typical in a bitcoin bull run. Bitcoin itself has been relatively stable toying with the $US50,000 mark for a few days now.
I had hoped for a September dip but it didn't occur and now that it's hit $US50,000 it will most likely continue to rise.
If we look at BNB's latest graph it hasn't performed all that great last time Hive was lower than this price BNB was about $US520 and we're not seeing that much traction occuring. Cake itself is also on a decline which is often pegged to BNB. I believe it's previous price point in the bull run was about $US40 which is what I was aiming for in this run, there's still hope.
Another interesting piece if information is that the last time Hive broke close to $US1 Bitcoin was peaking at $US71,000. Yet we are no where near that price point as yet, in fact it is still $US20,000 away. So what gives?
Not to mention the market is all over the place with some tokens performing others dipping. Typically Bitcoin bull runs pull the whole market up, but this time is very different.
Ethereum Flippening
Where Bitcoin is travelling relatively stable for September Ethereum is not. It has seen a 400% price rise since June.
Effectively this is the first time Ethereum has achieved such a break away price from Bitcoin and its an important moment in cryptocurrency.
The game is changing and the past 10years of data is not as relevant today as it was last year. We're heading into some uncharted territory and the token lifting the cryptoshphere is Ethereum. Even ADA has surpassed 120% in growth a break away from Bitcoin and the emerging Solana is edging closer to the $US200 price point.
Hive Boom
Over at @penguinpablo we get a deep dive in what is really occuring you can see the full post that the above image is from Here
Splinterlands has caused a boom and no doubt MuTerra too. MuTerra went relatively unnoticed as it launched on the same day Splinterlands launched its SPS. Another wonderful game being built on the Hive Block Chain causing a boom in account creation sapping up resource credits and creating a funnel for Hive. It is in relatively high depend.
This will continue to grow as developers seek out block chain tech that is cheap and fast which Hive is. It is the perfect block chain for gaming. Developers can build on it and gamers would never know unless they went digging. That is the best form of block chain for gaming.
You don't want to be going through messy wallets and log ins and multi layers. You just want to log into the game smash out a few rounds and that's all.
Absolutely phenomenonal what is occuring on Hive at the moment. No doubt all this action will push Hive to $5 as it is in high demand.
We are currently in a moon so don't get too excited just yet I'd anticipate a dip in a few weeks but there are two very important things in this bull run.
- Bitcoin is being flipped
- HIVE is becoming a stand alone block chain that is worthy of investment.
Well done to all the developers and the communities who have been building over the past few years and remained loyal to Hive.
Let's do this!
What are your thoughts on the current bull run?
*Image sources provided, front cover image from canva pro subscription and graphs screen grabs from Coingecko
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Posted Using LeoFinance Beta
