On April 27, Binance announced that it had listed STEEM hard forked token HIVE on its platform. Deposits and withdrawals for the token will be made available on April 29, and can already be traded against Bitcoin (BTC), Tether (USDT) and Binance Coin (BNB). Binance is not the first exchange to list HIVE, as Huobi had done so just a day earlier on April 26, and Bittrex in March.
The HIVE network and its token are a result of a bitter dispute between Steemit community members and supporters of TRON (TRX), the latter having acquired the content creation focused network in February. TRON and its founder Justin Sun have been facing accusations that it has been making a concerted effort to take over the network.
The animosity came to a head when community members decided to hard fork from the network and continue Steemit’s operation in a manner similar to pre-TRON acquisition. The Steemit community alleges that Sun and TRON had attempted to replace the network’s block validators with those that favoured TRON.
Binance and other exchanges, which were also involved in this voting, faced their own controversy, but later stated they had been misinformed about the whole process. Binance CEO Changpeng Zhao went on to criticize the move by saying that it would be good for Sun to get the support of the community before making any changes.
The HIVE token is valued at $0.512853 at the time of publishing, down roughly 40% from its 24 hour high.