Ladies and Gentleman - Hive price is exploding!
Source: Bittrex

Ladies and Gentleman - Hive price is exploding!

By achim03 | achim | 24 Apr 2020


A couple of days ago, I couldn't believe my eyes when I checked Hive prices on coingecko. The Hive price in USD has evolved from 0.12 USD to 0.22 USD. I tried to understand the reason for this jump and the most reasonable cause for this price explosion seemd to be the listing of the Hive token on Huobi and MXC. Thanks to these listings, the Hive token got a lot of publicity in eastern countries and the demand soared. Not only the prices went up, also the volume increased drastically.

The shock of the day - Hive is at 0.40 USD

I didn't feel too good today because of a sleepless night but this changed this afternoon when I checked Hive prices again. I had to refresh the page a couple of times and saw that the price had evolved to 0.40 USD. In all my years on Hive and the other platform, I have never witnessed anything comparable.

Why are Hive prices soaring?

I think that the listing of the two exchanges gave Hive a lot of publicity and an interested in it. I like to look at the evaluation of the users for a coin and this is what people believe at the moment how Hive will develop:

image.png
source: Coingecko

94% percent of the users believe in this token. This explains one part of the price evolution.

Limited liquid Hive

When we remember the time before the fork, a huge percentage of all the liquid Steem was powered up because of the struggle that we all know. This means that after the fork, these coins were still staked and I believe there were not so many who started to power down their Hive. It takes 13 weeks for a full power down. So at this time, there is still a very limited quantity of liquid Hive on the markets. With the huge increase in demand and trading volume the price is pushed to the top.

What will happen next?

I think that even the most devout Hive holders will get tempted to sell some hive at these prices but still they don't have so much liquid hive. In markets where everybody buys, the others tend to buy as well...

Well of course we have all to decide by ourselves what to do. I think we can all agree that this is a nice development ;-)


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achim03
achim03

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