I think that many have withdrawn HBD to convert them to HIVE given the very favorable exchange rate. In August by exchanging 1 HBD you could buy 5 HIVE. In September more or less the same thing happened. I think that there were 2 factors that caused the withdrawal of HBD. The drop in interest and the possibility of buying many HIVE with few HBD.
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Price relationship between Hive and HBD does create an interesting investment or trading behavior. I like it.