After 2 weeks of stable price, the Hive token has experienced its first major drop. Looking at the chart provided by Coingecko, a 37% price drop was recorded yesterday. It continued today down by another 12%. It’s not surprising that this new coin will end up being dumped since it’s just free internet money.
It’s understandable since it was a reprint of Steem out of thin air, overnight. Some Hive accounts believe that it has value since they themselves believe it. However it seems like not all of the recipients of the airdrop will feel the same way.