Nothing like a little peer pressure to get you to move on something!
After weeks and weeks of sitting on deciding whether they would list HIVE or not, they suddenly made an announcement merely days after Huobi listed HIVE...
Coincidence?
Probably not.
Though, also of issue was the fact that so much of their stake is still powered up, so there was that likely holding them back as well.
The official announcement can be seen here:
(Source: https://binance.zendesk.com/hc/en-us/articles/360042363352)
Trading for HIVE on Binance began early this morning, but deposits and withdrawals will have to wait another couple of days.
Which is probably part of the reason we are seeing the decline in prices today.
For those users receiving HIVE via the airdrop, they can't transfer it out to a HIVE wallet, or some other exchange, their only options are to sell them for other coins or hold em.
Where there's smoke there's fire...
For anyone following my blog the other day, you likely saw this coming.
The Binance-Hot wallet on HIVE had recently become active for the first time in months as they were likely testing wallet functionalities.
More on that can be seen here:
https://hive.blog/hive-148441/@jrcornel/is-binance-about-to-list-hive
Overall this is very bullish for HIVE, but we might have to deal with some dumping in the very near term first, especially if Justin Sun had his HIVE parked on Binance...
Stay informed my friends.
-Doc
Bittrex just matched and raised them!
Bittrex has listed both HIVE-USD and HIVE-USDT pairs and they are already trading.
See this post for details:
https://peakd.com/hive/@apshamilton/bittrex-adds-hive-usd-and-usdt-pairs
I believe that this is the first full USD pair for HIVE or Steem ever.
Correct me if I'm wrong.
HUGE NEWS!
Yep I did see that, been working on a post on it actually. :) And yes it is big news.
You were one of the first people to notice that good call. I also suspect the decline is fueled by trading starting on their as well.
I mean if you can't withdraw your HIVE, your only two options are to hold it or sell it for something else. I think that is a big part of it. In a few days when they enable deposits and withdrawals we might see a little bounce back up...
I was thinking that would have an opposite effect and we get a drop in price.
All very predictable.
We also got a proper listing on CMC from what I read.
Things are expanding very rapidly on here. It is exciting to witness.
It feels like there was a lot of pent up community excitement on Steem, waiting to explode. Now, with renewed life, it seems we are seeing the result of that.
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Yea I mean just removing that sell pressure from steemit,inc every single week was pretty good news. Though it looks like we are going to be using portions of to pay developers on HIVE, so it's perhaps mostly just a wash as far as that is concerned.
True but hopefully with the Hive system, there is a return on the development money as opposed to what we got from Steemit.
Posted Using LeoFinance
Except that the proposals are paid in HBD so that removes selling preassure from HIVE. Now we need HBD listed on multiple exchanges.
Sort of. But those HBDs can be converted into HIVE at any time, which adds to the liquid supply.
Thanks for the information.
Can't resist a hot new Alt Coin can they. Miss out on those exchange fees.
Add two more listings:
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Though Binance listed it, the scheme behind it was to screw up the HIVE. It's sad to see Binance couldn't care less for its users. The fact that HIVE withdrawals are still not on, is a testimony to Binance's brutal attempt to sabotage HIVE.
I doubt it. Huobi also didn't allow deposits and withdrawals immediately. Either way, the selling we are seeing now is probably a short term dip. The momentum is still there and will continue for the next next several weeks and months most likely.