Is Binance listing HIVE the end of the price spike?

Binance has listed HIVE. This is undoubtedly a positive for HIVE in the long run - more exchanges, more liquidity, better price discovery - etc, etc.

BUT, right now the price of HIVE on Binance is around 20c lower than everywhere else. Yup, you can buy HIVE for a 20c discount on Binance.

There is a catch of course - withdrawals are not available yet. Their listing post states that withdrawals and deposits will open in 2 days. So that rules out any arbitrage plays for now.

The HIVE/BTC market right now

There seems to be plenty of sell pressure on the HIVE token on Binance, and co-incidentaly a pump on STEEM right now with it up 50% since HIVE got listed. The volume on Binance for HIVE/BTC and STEEM/BTC is very similar, with $8 - 9 million volume on each.

It will be interesting to see how all this plays out, but I think the pump on HIVE is over for now and when deposits and withdrawals are enabled, the next round of price discovery will begin. Over the next 2 days, either the price on Binance will move to match the other exchanges, or they will move down in line with Binance.

Don't get carried away with the last few days pump, there could be a solid dump starting on Binance imminent.

None of this is financial advice. Do Your Own Research.

Cheers,

JK.

Posted Using LeoFinance