Hive On Its Way of "Becoming a Supermarket"

acesontop (80)in LeoFinance • 4 years ago

Soon after the fork from Steem, HIVE was listed on quite many exchanges, for a newly created chain backed by a strong community that gave its value and participated actively on the growth of this blockchain through many apps that are created upon it, and used by thousands of users world wide, the token has rocketed to almost $1 in
no time.

It was too good to be true and it felt from there at an accelerated pace I'd say. I'd managed to hold the $0.2 line up until about September 4th when the sell pressure of HIVE pushed the price under 20 cents, forming a bottom at around 10-11 cents. The bottoming lasted for quite a wile and it was indeed frustrating to see many alts pumping while HIVE was seriously lagging.

I felt about it pretty much the same as I did with LTC when I was still holding it a while back. It seemed like they were living a parallel universe and not participating to the slow, but steady growth of the crypto market. For more than 24 hours HIVE has managed to break the $0.2 resistance and it's currently close to 22 cents. This is not a pump though.

I've seen several pumps for HIVE during its bear market, but no, that's nothing similar, because the way it got to $0.2 has been a slow and steady one, it is a sign of appreciation and not pumps and dumps. Pumps and dumps usually last for a few hours or days, have a look at XRP's one from a few weeks ago as a pure pump and dump, but it's not the case of HIVE.

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From 06 January 2021, when it left the $0.11 area for good, it has kept on growing and it managed to double the dollar valuation in around a month of price appreciation. The whole market is moving up, and we could say that HIVE could have been dragged with it as well, but I'd say it's not just that. The market has started moving since May last year, but HIVE hasn't performed at the same pace.

I'd say that the maturation process of the blockchain, communities created on it and the renewed faith of current users in the project, are catalysts for HIVE's growth. There are airdrops that are being announced, developments taking place such as the ones that Leofinance has on the pipe for the near future, and the native token has reacted price wise to all of this.

status on Hive the other day and he seems to have powered up massively, him being just one of all getting strong into HODLing HIVE. $1 HIVE might look as a bit hardly achievable, but I'd say it's not.Both content creators and curators seem to be once again incentivized to power up, in anticipation of future airdrops, and also getting prepared for the mania phase of the bull market. @onealfa shared his

I believe that getting from 10 to 20 cents is a way more consuming steep slope than from 20 cents to a dollar. Have a look at ADA, a super performer of this bull market currently, and see how long it chopped between 3 to 10 cents and how fast it spiked from 10 cents to 90... I won't call this a pump either, but a healthy bull market price appreciation. Cardano is gradually becoming a Ethereum competitor and my take is that it has more fuel to burn to the upside.

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Same with HIVE. Real developments are finally starting to gain traction, users are incentivized to HODL in exchange of potential earnings of course, fundamentals scream for this project in a world of mad ETH gas fees and censorship non resistant social media platforms. The campaign of promoting it on twitter is also worth mentioning and so far I've tried my bets shilling it all over the place.

the network effect. It is a network after all, a web of DAapps, communities and second layer tokens. We're no longer a blogging platform, or a fortress surrounded with high walls, hard to penetrate and even harder to find your place inside. We're not all meant to be bloggers and the way the old community acted was limiting, from my perspective.I like how @taskmaster4450 describes the growth of Hive as

We need to embrace microblogging more, vlogging, games, DEFI and all the goodies that make this online world worth spending your time. Hive is gradually evolving from a local store to a supermarket, where you can find pretty much everything you need and that's great. These are the reasons I consider boosting the price of the token. That's why I consider it currently in a uptrend, not a pump. We've had our series of pumps, now it's something different.

I don't know how 2017 felt like on Steem, but I sure am highly excited about being active on Hive right now, after three years of constant content creation, and especially being a part of Leofinance. Hope you have a great day and see you to the next one.

Imgages courtesy of unsplash.

Thanks for attention,
Adrian