Big spikes
The last few hours there have been two big spikes which have propped up Hive’s price, to drop back afterwards. The volume has increased dramatically too, over 400 % to above 25 million USD in the last 24 hours. 81 % of the volume was at Upbit in the Hive/KRW pair. Again Korean trading at work. But it still has pumped up the price of Hive and it’s spot on CoinMarketCap. Which is never bad for the promotion of the project.
But once again I wonder what is behind this? Is this some kind of miniature “Pump and Dump” scheme? Or are there other reasons behind this?
Anyone?
Sincerely,
Pele23
HIVE is traded on multiple exchanges, each exchange has only a fraction of the total amount of HIVE. So large orders on one exchange can lead to a dramatic change on that exchange which is then corrected by investors moving funds between the exchanges. This will lead to spikes and divots in the price.
I know that, but what makes those Koreans buy and sell that kind of volume? What’s in it for them? I don’t see how they profit from it, apart maybe from a small pump and dump
Apart from Koreans trying hard to pump this, many people see this price as buying price and as opportunity that may not last long
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They do this once in a while. They seem to be having a fetish for HIVE.
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big orders mate, usually favors the calls
It just looks like someone is accumulating more Hive and the price is slowly going up because of it. The jump itself doesn't seem to be too large and it wasn't long enough to really say anything.
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nice HIve
All worth $0
If they worth 1 cent, that will be more than I ever imagined.
Nah, I don't want to take away from your potential partners.