Hive has been under a lot of sell pressure recently. To be fair I think the entire community got a little overzealous about the health of Hive and how much money was actully in the DHF was being sold off through other projects.
Hive is a weird beast in that it wasn't very popular so around 100 people if not fewer still hold a majority share. Now that's not to talk bad about anything with that much stake as I believe 95% of them earned it through legitimate means. Be it investment, smart moves, interacting with the community, building projects and so forth.
The issue now is there's many project sucking thousands out of the DHF and offer little to no value for the cost. Hive needs to generate value itself if it wants to be paying out these massive amount of funds. At any given time you can look at the proposal system and see how much is being paid out and where. I'm going to toss out PeakD Proposal Front End as the option as I honestly find it to be the easiest to view and understand.
For example Value Plan Q1 2024 is asking for 270,000 HBD in total right now as it stands. While I get going to events and getting the word out there it better damn well be producing at least 270,000 in revenue and value for hive.
I will say it's gotten a little better and that's a good thing compared to where it once was. The amount of outflow money in the DHF was staggering for what little value was being produced. While the rest of the market was on the bull run hive struggled all those months to even hold the price point above $0.30. A far cry from where Hive was during these BTC priced.
As you can see the $HIVE price has been struggling to regain a footing once again.
Hive needs to evolve and it has been starting to do this in a small way. Before once a single game Splinterlands was one of the single assets that really brought a lot of value to hive during the last bull run. In fact it's still rated one of the best and most active games currently on many web3 gaming tracking platforms.
We also have applications like LEO that now bring value INTO hive instead of constantly streaming it out like many other front ends and projects are currently doing.
Outside of that it comes down to development and then onboarding of people. The more people powering up hive the less there is to go around and the more value people start to see in building their stacks of hive.
A combination of these factors is what will set hive light years ahead of the competition. Which at the moment is rather poor. For example I recently joined Diamond and I have to say even if you look at the largest active accounts the amount of activity is low I'd say even lower than that of Hive which is only around 3,000 active blogging and threading users at most.
Once we get the money issue more under control and start to hold applications accountable to become self sufficient (Yes, I know it's hard ball but you'd be pleasantly surprised how hard, innovative and work ethic someone has when they are not guaranteed money anymore unless they start to produce value)
I bring these things up mainly for awareness but also because I believe in this blockchain and knew we can do it! I'll be playing my part for sure in a much more active and supporting way. I'm a little behind the curve at the moment but once I get these nodes running that's the first step of many more to come.
So let's be supportive of those developers and leaders who are restoring value to hive not only in dollar value but also building applications of value who are producing and showing real results.
