This volume surge is certainly going to catch some eyes for sure and with the current HBD price at $1.074 on the internal market it will likely cause a bunch of people to dump out of HBD into HIVE so that will be interesting to watch playout. It is certainly seeming like it is ready to break away in a big way!
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Well it is very odd to me for several different reasons. I don't know what the triggering factor was for HIVE to get added to futures on Binance and how that exactly relates to the volumes coming through the Korean exchanges.
Also there have been these projects like HIVE AI $BUZZ on Solana which may or may not be a legit project and then a bunch of copycats that have the ticker $HIVE and I wonder if some people are getting confused and then buying this HIVE on something like Binance. It seems like once the thing has been shook up at this point it is breaking lose and going crazy and people are reengaging here.
Probably all of it. Too bad the interest and volume have nothing to do with intrinsic value. Which is the sad reality of almost every crypto project.
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That's true but the market has to be created and active and have deep liquidity so hopefully that spills over to the elevated prices and then new people show up and other reengage that have been dormant.
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The trigger for the big rise in price and increased volume was Hive getting a listing on BitPanda (euro exchange).
Previous moves for Hive were dictated by Korean speculators. This move has been triggered by European speculators.
Interesting movements and changes to the status quo.