A big mooning event happened yesterday with the Hive token. A new all time high has been set, which coinmarketcap lists as $1.06. What great news for the blockchain.
Hive ATH
There is some serious hype going on. What is it? Who knows for sure. Steem also saw a pump at the same time, which seems to be the norm for the past few weeks.
Hive 7 days
Steem 7 days
They have been following the same pumping schedule. One pumps, the other pumps. It's odd.
While the pump on the 22nd of March was quicker and higher for Steem, the recent pump yesterday was quicker higher for Hive.
It is the anticipated 3speak airdrop that is creating some hype. Is it the popularity of Leo Finance boosting the chain? Or it could be that dragging the bottom for a year has people catching on that Hive is undervalued.
In physics the saying of "what goes up must come down" also applies to crypto. Everything comes down. People sell at the high. The highs don't last, just like a drug, it fades.
Will Hive come back down to pre-pump levels? Hopefully not :)
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I don't know. If its undervalued like I think it is (very undervalued), maybe it will keep climbing for a while. If the pump brings more people to look into what this platform has to offer, it could be a pretty great ride.
It will be interesting either way.
Something is happening, we don't know what, but ppl are buying the tokens for a reason... will we ever know?
Pumping on news of other Blockchain technology company named hive. Can be good for us or bad. But let's enjoy the moment.
That's a good mistake :)
The problem remains the same one that we had years ago:
"real" value of the network/ coin is a function of the number of users, some ln or log, meaning that with low number of users, the value is zero and at some point it moons, to plateau at the end (not even BTC is there, which is good)
For steem/hive, the solution is simple: they must find someone who has users already and - to spread the coin to their users. To bribe the one hodling the users.
Some good blog like those .win websites (it's fishing in a barrel), some good online game, some photo community like gurushots, something like that...
Yup, pay to get onto crypto podcasts and shill hive ;)
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