Will Hive's New $2.19 Price Hold?
The obligatory Hive Price Post
Some of you might not of noticed Hive's sudden price change over the last few days and due to a shortage of posts on the topic, I thought someone should communicate the changes and what they mean.
(that's sarcasm, of course the community is excited about the pump)
At the time of this post Hive is sitting at $2.19, with low volume trading and most of the activity coming from Asia on Upbit, and the price is holding with a slight downward trend after yesterday's wild pump activity.
Clearly the pump was a bit different from our standard pump and dumps of high volume only on Upbit and a quick pump followed by a quick dump. I could still see some consolidation being reasonable. I do expect the $2.00 ish trend to hold for a bit.
Per usual most of the volume is with the Korean KRW, on Upbit, but we are seeing solid trading volume on other exchanges as well. I see the fact that it is holding here as a good sign of being able to enjoy higher prices for the near future anyway, barring a sudden or deep drop in Bitcoin.
When Hive isn't moving quickly it tends to trend very slowly down.
Only time will tell if the new Hive holders will just use the Hive to trade or use apps or if the new owners will power up to participate in governance or on one of the Social Media apps.
Currently about 59% of the Hive supply is liquid, but I don't think that is a bad thing, as there is much more to do with Hive beyond the Governance and Rewards piece, but it also allows for more volatile price swings.
@clayboyn called it in advance.
Another interesting change will be the amount of HBD that will be printed for reward payouts. With the price of Hive being higher than HBD more will have to be printed to keep up with the higher USD value of posts and in general that should be good for the peg.
Personally I haven't been holding a lot of liquid Hive, so other than being excited about future growth and the marketing edge a higher price holds, it is not a big change, but you can't help but to be excited for the home team and it looks like as long as Bitcoin holds pretty well, I see the new price range nearish to $2 more than just a quick pump.
What are you expecting?
Posted Using LeoFinance Beta
