Greetings, everyone!
Hive made it again to the headlines with an upside move of more than 60% in the last 24 hours. This attracts the interest of many, but in my opinion, it is nothing more than another pump-and-dump event driven by the same players who have fun with Hive. The volumes are insane, and more than 84% of the trades are using KRW (South Korean Won) as a pair for HIVE.
So, yup, Koreans are going crazy (again). The 24-hour volume is more than 6 times the market cap of Hive. Considering how little is liquid after the HPUD, one can only imagine how many times the same coins are bought and sold over and over again.
Photo courtesy of Wikipedia: 7th-century Chinese Tang dynasty painting of envoys from the Three Kingdoms of Korea
I'm speechless...
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Happy new year
The huge move was bound to make it to the news eventually and I think we can blame the Koreans for it.
It's crazy but those who have liquid made some good profits :)