To be honest, I have never witnessed such a pump, not after 2017 at least. I saw Icon(Icx) pump this year but that was no way near than the pump we are witnessing with Hive. Hive already reached its all-time high of $0.64 and at the time of writing this, Hive is sitting pretty at $0.626.
I have been on steemit for almost 3 years and I have seen steem pumping every now and then but those spikes were short-lived. Steem was never able to hold its price for a longer period of time. But it'completely different from Hive as it has been able to hold its price and grow rapidly at the same time. The volume is over $62 million and Hive was ranked number 18 on cryptowatch platform yesterday among volume leaders.
I was very unlucky as I thought, I will try to do a few swing trades and earn more hive in the process. I sold a chunk of my holdings at $0.17 thinking that Hive will eventually come down to a range of $0.13-0.15 but that never happened and it kept going up. I sold more when it reached $.20 and again at $0.3 and then again at $0.4. Every time I kept selling, Hive kept rising further. But I don't regret selling at those points and I don't want Hive to come down either.
But the real question here is that how did Hive pump so much and how is it still looking strong?
I think that what really got Hive going was the AMA with Ciara from Huobi. I have seen many new listings of steem in the past but they never held any AMA with any of the exchanges. The result always came out to be similar, a pump of 30-40% and then a cooldown. Doing an AMA with Huobi was a masterstroke for which everyone who was behind that has to be praised. @roelandp answered questions very nicely and I spent some time after the AMA on Huobi's telegram channel and saw that many new people became interested in Hive. It was a great marketing strategy, to say the least.
We are almost 4 times in value than steem now and probably it is time to move on from steem and never look behind. We need more exchange listings now and all of us should work towards that. Just imagine, one exchange listing got us here, a few more of them can take us to the top 20's. The word about Hive is spreading like a wildfire, thanks to those who are actively promoting it. It is just the start, we are destined for greater achievements.
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It was defo the AMA, they praised it so much. Im not sure what will happen when Binance enables withdrawals or trading though. One month they have held my Hive its starting to get ridiculous.
This is not the first time they are doing it. I remeber they did the same with Theta Fuel and that was almost two years ago.
Me neither.
Probably a small pump followed by a dump.
AMA just means 'ask me anything'. It was an interview with CEO of Huobi on Hive listing. She had nothing but good things to say. Wish i was in Thailand too buddy. Maybe once this is over. :)
Still pumping
$0.74 right now.
I really hope it don't dump.
Justin's Hive stake in binance bothers me.
This is crazy
$0.77 and going strong
That is a cause of worry but let's hope everything turns out well.
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Great price 🙏
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Hi @syedumair
Welcome within project.hope community :)
It's indeed interesting situation. Amazing pump. I think it's clearly related to upcoming airdrop which will take place on 28th (huobi exchange)
I've seen 2 similar airdrops done before (different crypto) and I've burned myself once.
there are many daily traders behind current volumes. And they are not interested with airdrop. They will be there as long as they will see demand. At some point demand will die down.
And then they will sell, knowing that right after airdrop price will tank. So I would expect that price will climb up until sometime tomorrow and then I would expect first dump
Right after airdrop - there won't be much buying pressure and selling pressure will be insane
so I would expect price to go up maximum till tomorrow. last 24h would be used by day traders to close their position. Am I making sense? Just wondering...
Cheers
Piotr
You are right.
But it's really great to see such a pump in price.
The price will obviously die down once the airdrop is takes place. It's still a win win situation for all of and I hope the price stays above $0.4 after the traders sell their bags.
insane pump!
Exciting times we are living in. Not so, for those unfortunate souls who haven't joined Hive yet.
Peace and love!
Hi! @syedumair
I know there was a rush from the Hive pump a few days ago and now it started to fall. Perhaps it is normal behavior when there is a contest created by an exchange (Huobi), although as you say, this rise has been spectacular and will attract the attention of many. At least it has brought excitement to these platforms, even Steem himself went up too, which had time to get stuck.
Welcome to Project.Hope! :D
Stay safe :)