Nominally, HIVE has a Larger Market Capitalization than STEEM
So far at least, the HIVE token is thinly traded. But we have some preliminary evidence that traders prefer it to STEEM, at least while Steemians dump their powered down STEEM and move into HIVE to build their property in Hivelandia.
graphic by @midlet
All of the screenshots below were gathered within a few minutes of each other so are effectively a snapshot of relative prices/valuations on 25 March 2020.
The two cryptos have a similar number of tokens in existence. The screen grabs are from SteemD and its analog HiveBlocks:
CoinMarketCap does not yet have Hive listed, but CoinGecko does.
The CoinGecko price for Steem:
Note that CoinGecko does not show a market capitalization for HIVE since their database shows “?” as the supply for the coin.
But given that HiveBlocks shows a supply of 380,948,788 HIVE, we can calculate a market capitalization of $99,999,000.
STEEM is currently ranked 62nd in market capitalization but if CoinGecko’s database had something other than “?” for its supply, HIVE would be ranked in 42nd place.
The relative prices of $0.169 for STEEM and $0.265 for HIVE suggest a current ratio of 1 STEEM to 0.664 HIVE, which approximates the relative valuations for conversions at blocktrades, not factoring in their cut for the service:
