It's still too high IMHO because of the inflation issues. The 20% was brought as an answer to the UST fiasco in 2022 and was never lowered. It was meant to be an attractor to the blockchain, but when I talked to people outside of Hive, they all looked at the 20% as a scam, because of what happened with UST and it's 20% + earnings that were 'promised'.
Yes, after the UST fiasco, people are sceptical of such high rates. Even though it was popular and wanted by most of the community.
But the problem is when it stays high during a bear market like we are seeing, it just keeps us there. If the APR were lowered to 5% to lower the sell pressure, then we might have a chance to break above these levels and stay there. I don't think the 20% works with Hive under $1
Yes, and people sell hbd for Hive hoping for NGU. It should be permanently lowered and the Hive Power be the main focus of the chain again. Then develop the apps to improve user experience and search visibility etc..