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LEO And HIVE Are Looking Pretty Good Right Now - For Solid Reasons

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reonarudo
@reonarudo
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Recent price action

HIVE hit 17 cents, which is really nice change.

There has been a consistent month-long uptrend in HIVE. HIVE seems to have finally caught up with general alt season.

Development is taking place.

DLUX is an open source Virtual Reality content platform that uses the Hive blockchain. 3Speak is building a decentralized peer-to-peer video storage platform with tokenomics of its own and will airdrop three different kind tokens on Hive Power holders. Some of the newfound demand on HIVE is due to the upcoming airdrops.

Partly the positive price action must be because of the fact there is an alt season where all the boats are lifted.

My estimate of where HIVE is going in terms of price

The liquidity of HIVE has always been thin and the market cap small. If Bitcoin were to top out somewhere between $200,000 and $400,000 as the stock-to-flow model suggests in this cycle in late 2021 or early 2022, and if Ether will top out somewhere between $10,000 and $25,000 per coin, LEO will go to absurd heights because of the extremely thin liquidity and because of wLEO. I wouldn't be surprised to see LEO between $10 and $50 per coin in the last quarter of this year. The market cap of HIVE is $63 million right now. The market cap of LEO is abotu $3 million. If LEO goes up 30x to $20, then the market cap of LEO will be equal to HIVE's current market cap. At the top of the cycle, some LEO will be sold for HIVE for LeoFinance to gain access to a larger number of Resource Credits to be able to create accounts in greater numbers. LeoFinance will also want to buy more HIVE and power it up to gain more influence over the governance of the Hive blockchain. The tokenomics of 3Speak is designed to act as a sink for HIVE tokens.

For these reasons, I believe that HIVE can only go up in this cycle. Where to is difficult to say. My personal target is between $1 and $15. All it takes is for all the pieces from ease of onboarding to peer-to-peer binary content storage to come together. There is a clear demand for a combination of DeFi and censorship free social media.

Posted Using LeoFinance Beta