Let's dig deeper into the Hive Blockchain and the $HIVE token as we have been starting to just see some price action on it finally after all of these years.
The history of hive is a bit of a long one with some heated debate. To keep things short though it's a hard fork of the Steem blockchain after an aggressive take over of the steem blockchain. From that came Hive which has out performed steem for a while now. Now of course I personally feel Hive still has some of its old issues but it for sure has come a long way in terms of activity, people voting and being aware among other things.
The price history of Hive is also a very interesting one.
As we can see in the last bull run hive pushed near $4 for a moment and held above $1 for a decent amount of time before constantly being sold off and retracted. From there Hive has pretty much stagnated around the $0.30 - $0.40 mark that we now find ourselves in today.
Hive now is a much different place then what it was when it was first born. The blockchain itself has received a huge overhaul to the point I would say it's not much like the blockchain it was hard forked from.
There's also a large amount of new development happening in terms of VCS which will bring smart contracts to hive. This isn't expected until the end of this year and if we know anything about development you often times have to 2x that. Which means I honestly don't expect it until summer of 2025. Of course I would love to be proven wrong.
The last bull run also skyrocketed the activity on the hive blockchain and I honestly feel the only applications that really capitalized on it where InLeo which had some growing pains for sure but lately has been turning out some rather impressive works which I'm very interested to see rolling into the bull market. The other project was Splinterlands which legit turned me into a crypto millionaire during the last bull run. I'm hoping we see it return to that and then some and I have some hopes that it will as the team and general project seems to be on a solid path.
The future of hive looks bright but of course it is going to have struggles. There are still some parts of it I don't agree with that I feel are keeping prices low and not contributing enough value. However with increased stake of hive comes increase say in how DHF funds etc are used.
That being said InLeo is doing great work and so far a number of other projects. I'm very excited to see what comes out in the gaming space as there's a number of projects that are kind of just sitting in Alpha or beta at the moment. With increase price and funding I believe we should see a majority of these release this year.
