I don't see the HIVE market price as relevant measure of value of the HIVE blockchain or anything much at all.

HIVE was never intended to be an investment instrument. Store of value was never an important part of the rationale for HIVE.

The HIVE blockchain provides the basis for a community; a decentralised, censorship resistant & essentially free place to blog; a decentralised, permissionless database for developers; the ONLY surviving algorithmic stablecoin; a medium of exhange and much more.

The only thing the HIVE price needs to do is be high enough to make being a top 20 witness profitable. We are an order of magnitude off that threshold. Costs of running a witness are dropping all the time. Faster than HIVE price has been dropping.

The HIVE price is irrelevant to most of those things & only to HBD indirectly and in extremis.

The only thing the HIVE price needs to do is be high enough to make being a top 20 witness profitable. We are an order of magnitude off that threshold. Costs of running a witness are dropping all the time. Faster than HIVE price has been dropping.

So focussing on the HIVE price vs the legacy chain or any other misses what HIVE is really about.