I think you are right. The buying is based upon speculation. There are not long term hodlers in there for the most part.

The future of Hive is going to come from the applications on here and what is developed. It really is that simple. The hype and pumps are not going to pertain to Hive. Instead, we will see people getting active and staking the token for the use case.

It is a novel idea in crypto but that is the point I believe we are at. Hive has some of the best technology out there and some of the DApps being developed have a chance to break through.

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