Koreans are at the wheel once again with HIVE. It just pumped a bit over two cents in the last few minutes, and although that is dust in the wind in comparison to what's to come once the altcoin season commences, we can't complain about HIVE getting pumped by the Koreans once in a while.
Yesterday they did that with STEEM, and to this day it is still unclear to me why the Koreans are doing this (occasionally pumping HIVE or STEEM). Whenever odd pumps occur on HIVE, the metric telling us what the driving force of the pump is the volume, and for the moment $9 million in 24 hours volume comes from Upbit on the KRW pairing.
A few good months ago when HIVE was ranging under $0.3, some around here were afraid that due to low volume on Binance, we would get delisted. Volume has not skyrocketed since then, but we are now seeing $2 million on the 24 hours chart, and if memory serves me well, that is 4x the one we had back when the market looked to be dead, and the trading volume of HIVE over 24 hours was something like $500,000.
It is true that there are plenty of shitcoins out there which do not have any utility at all and are rocking way higher numbers than HIVE does, but that is due to one single thing: marketing. Either done intentionally or by "word of mouth" by holders of such coins.
Hive has not actually ever invested in proper marketing. As far as I can remember, we never had an aggressive marketing campaign like going out in the media, paying shillers to talk about us, and so on and so forth, and to some extent, it makes sense because we aim at making the utility of HIVE our sustainable marketing.
A couple of days ago, Binance added HIVE to Simple Earn Locked Products which offers up to 4% APR for whoever locks HIVE on a 90-day period. One can earn close to 3% APR by locking HIVE in HP and earn on curating rewards as well, but it takes longer to unlock the coins from HP.
Binance's move to add HIVE to their program is probably not gonna attract hivers to it, but it is a sort of advertising that we cannot say no to. Whoever will get into it involuntarily will do minimal research on Hive and will find out about what this project really is.
That's when for such a person will make much more sense to stake his/her HIVE in HP instead of the lock program of Binance and earn more while also being involved in a true WEB3 project. It's when such a person will realize that Hive offers the best APR on locking stablecoins.
Gradually, such a person would find out about the @v4vapp and how it makes it possible for Hive accounts to send sats between each other on the Hive blockchain, fixing the problem of centralization that the Bitcoin lightning network has, and the maxis refuse to see. @leofinance has integrated LEO into the Maya protocol, and soon we will be able to swap between almost any crypto on Leodex.
What can I say, we have quite poor traditional marketing, but that does not mean Hive is not evolving. This thing is an ecosystem, one that embodies users from all walks of life and fulfills the need for all sorts of crypto-related activities. What Binance does with Hive is irrelevant for an old Hiver, but involuntarily their program will send new users to the platform.
So, Hive was not delisted from Binance as some of you were fearing, the price has rebounded a little bit and will see its fair share of explosive upward movements as every coin out there, and the reach of our ecosystem is gradually expanding. Mass adoption comes in many forms and waves, but it takes time... Sometimes years upon years before making significant changes clear.
It's all worth it if you ask me...
Thanks for your attention,
Adrian
Interesting move from Binance! 4% at a 90% lockup period means they are expecting a higher return than that. I wonder how they will use that HIVE. There is a higher daily transaction volume on Binance for HIVE nowadays, so I wonder if they'll play in the market.
I don’t know what is going to happen. We’ll have to see…
Hive might not have been understood by people back then. But now it's a good coin to invest in
Hive is flying way under the radar imo.
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