Binance is one of their recent articles announced that Hive BTC pair is going live today. We all know that a few days back Huobi Exchange announced their listing of Hive tokens. Along with the listing announcement they also mentioned that there will be some rewards to the top 100 Hive holders on their exchange. This is something like an airdrop they do from their pockets. I'm not sure if that was the reason but it already created a great FOMO among the people and the price of Hive pumped to almost hit 1$.
The price is still not in the downtrend and the party is still on. When I woke and saw the price, it was still very strong. Now that Binance has confirmed their listing, there can be another possibility for a pump or a serious dump. I cannot say that for sure but maybe people might try to trade on Binance after the listing because for many people their funds are locked on Binance. After Binance powered up their tokens to vote on the witnesses, they are one of the high stake holders of Hive right now. Let's check this out with some data.
Top 20 HP holders
| Rank | Account | Vesting Shares |
|---|---|---|
| 1 | @binance-hot | 28705735105.7617 |
| 2 | @freedom | 22309428226.0885 |
| 3 | @blocktrades | 9291184988.33543 |
| 4 | @huobi-withdrawal | 7242061095.29855 |
| 5 | @darthknight | 5047905095.17613 |
| 6 | @mottler | 4617011297 |
| 7 | @adm | 3804643538.91007 |
| 8 | @self-power.com | 3480370892.07486 |
| 9 | @jamesc | 3211120468.07001 |
| 10 | @theycallmedan | 2787422744.95093 |
| 11 | @ranchorelaxo | 2784509688.39963 |
| 12 | @xeldal | 2390599931.65211 |
| 13 | @pharesim | 2107460226.12458 |
| 14 | @riverhead | 1998763175.67227 |
| 15 | @payroll | 1963190253.74289 |
| 16 | @roadscape | 1961275838.28645 |
| 17 | @thejohalfiles | 1959826588.08795 |
| 18 | @trafalgar | 1912190221.62291 |
| 19 | @michael-b | 1897972049.49471 |
| 20 | @likwid | 1696957548.51 |
Though the above list looks good, I also tried checking the top liquid fund holders on Hive. I don't see any big liquidity they have right now to support people who try to withdraw. When they open their exchange, there is a high possibility that people might try to move out of their funds. At the same time, people might even try to deposit more to do further trading. It is unpredictable as to which direction this news will take the price graph.
Top 20 liquid Hive holders
| Rank | Account | Hive Balance |
|---|---|---|
| 1 | @steem.dao | 83370205.872 |
| 2 | @huobi-withdrawal | 23796518.941 |
| 3 | @bittrex | 15178492.822 |
| 4 | @binance-hot | 14813323.318 |
| 5 | @upbitsteem | 14432646.307 |
| 6 | @rap7tq6vu58ujg | 8636979.717 |
| 7 | @huobi-pro | 4816821.546 |
| 8 | @bithumbsend1 | 2958870.298 |
| 9 | @hot.dunamu | 933351.022 |
| 10 | @blocktrades | 575865.036 |
| 11 | @my-2-cents | 518789.844 |
| 12 | @tombstone | 496741.856 |
| 13 | @omlakshmiom | 457429.492 |
| 14 | @liujing | 440862.084 |
| 15 | @muchfun | 427289.42 |
| 16 | @probitred | 352376.222 |
| 17 | @hendrikdegrote | 300962.006 |
| 18 | @shai-2 | 288433.208 |
| 19 | @microwave | 225062 |
| 20 | @dele-puppy | 222934.562 |
Did Binance pump the price of Hive?
This is just a theory and a possibility that I'm thinking aloud. If we check the above list, Binance is now in a decent position number 4 with decent liquid tokens to support withdrawal as well. Binance made a mistake by powering up all the Steem that were actually customer funds. But they did regret for doing that and they told they will stand with the community. I have been thinking that Binance was always buying liquid funds from the market to keep the deposits and withdrawal going smooth for their steem.
From the looks of it, I don't think their staked tokens matter so much now because they have decent liquidity. So where did this liquidity come from? Is there a possibility that Binance was This also reveals a possibility that Binance had been buying liquid Hive from the market to make sure they are ready for supporting people who would like to withdraw their tokens after they list Hive on their exchange.
And from my analysis, the above screenshot was taken by me yesterday and the top 20 list that I have mentioned a little above that was taken right now. Comparing both, binance moved from position 5 to position 4 by increasing their liquid tokens by around 2,000,000. I believe this should have come only from the market. So, they would have purchased it from the market to get ready for their listing. I'm not trying to say that this 2 million is moving the market right now but just that they would have done this in the past few weeks to get ready for the listing. This is just my theory. Let me know your thoughts in the comments section.
Posted Using LeoFinance
Woohoo!!
😀
Nice one 👌.
It might be but they will not Pump it so much as we know they are still loyal to Steem. They have to list HIVE because it's gaining popularity.
Yes for listing Hive, they will need liquid funds because they have the customer funds. And everything is stuck in power up. I also see a possibility where when the first power down comes, all those tokens goes to the market. So, they themselves might bring the price down with a dump.
Now that will be counter productive for all of us.
Anything is possible but they all sounds like conspiracy theories before binance comes and clarify things.
They sure have been buying, but I don’t think just this 2 mil. is driving the price. Trading volume has been around 50 million.
Yes true. I'm sure 2 million would have not been the serious contributor. But I was able to compare only yesterday and today. When I checked the data a few days back binance-hot was not even there in that list. So it could be the case that they were buying a lot more than 2 million.
Yes that is very likely.
Could be a possibility since liquidity increased by 2 million and the hint for listing did sprint out yesterday as there was transfer testing going on with their hot wallet. I just hope their listing doesn't dump but rather pumps the price of hive but immediately they listed hive; Cmc added binance and hive moved to 34th place. Funny! Lol. Nice post.
Thanks for the comments bro. Yes I also hope the listing doesn't dump the price of Hive. The reason is because if I'm not wrong many Hive haters have their tokens on Binance that can possibly contribute towards a dump.
@tipu curate 2
Upvoted 👌 (Mana: 14/28)
Thanks for the curation 😀
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I'm not a trading expert or anything related but it seems logical looking at their current move from 5 to 4. There must be a reason behind buying those 2,000,000 and with the list announcement it seems, like you said, the one that fits the best. Regards bro!
Thanks for the comments. Yes we still don't know the big picture yet. This is just a data comparison for two days. They might have been on this for quite some time possibly.
I don't think they pumped it. But if tomorrow there is no change in prices... I will find it very STRANGE!
I still believe that should be the reason. As soon as Binance listing went live, the price of Hive started falling. Looking like people who held their funds on Binance dumped their tokens causing the downward trend.
Yep... now I can give kudos to your prediction.
Still very unclear what will unfold from here onto continuation of that "evidence".
If they continue... people will start playing the "adapting strategy".
But whatever it is, if the price balance out to stay above 0.5$, I would be really happy about this pump. If the price falls below the Steem price again, it is a sad news for us but again a good buying opportunity.
I have checked out the activity of Hive on Binance exchange, kind of disappointing as the price is below the indicated price on CMC. But I have strong believe that this will change very soon.
Most of the token holders on Binance are most likely Steem supporters and who knows Sun might even have a huge stake on Binance exchange which he might dump in the market. I guess the dumping is already happening and which is what is bringing the token value down.
Exactly my point.
I believe Hive is the future! Together we are creating something truly magnificent. Unless the world goes to shit and internet stops, we'll change decentralization forever.
Yes there is a lot of hope on Hive. We need more stable projects on Hive to keep the party going or else I don't think it will end up being a good platform. There is already lots of supply than demand. I guess there should also be proper projects that will act as a sink for the created tokens.
Yeah, there could be a lot more going on but we're still on the right track!
Currently hive is down 31% while steem up by 20%.
Yes that is expected. Most likely it should be after the listing on Binance Exchange and that might be a plan to bring the price down. Binance has the fund of many Steem supporters and there is no wonder that they are dumping.
ok then this is great maybe I should try this one maybe its too late for now but it will sure help me in future.
Yes though many people hate Binance after they voted for puppet witnesses by powering up customer funds, they are still trying to be nice. There is a high possibility that they might gain their trust from people back.
Expected news
Indeed. 😀
Sir hive price is low
When hive price is .94$
Binance hive price is .71$ why
Binance didn't have deposit and withdrawal open at that time. That was the reason for the price difference.
Binance is great
No comments on that. 😉
Good news for all hivers in the world, hope fully hive Will be success on the future...
Yes everyone is expecting the same. This price pump was a good sign and after the party is over, the price still looks decent.