I hate to contradict a positive story for Hive, especially when I do think Hive is doing very well, but if you take a look at some of the some of the Hive statistics posts, you'll see that most of the Hive leaving exchanges isn't being powered up for RC credits. Not saying that won't happen at some point, but right now the blockchain has so much headroom that it isn't charging a lot in terms of RC.

To see my point, you can take a look at these two posts: and you'll see that HivePower hasn't changed much in the past 8 days:
144,244K HP
@penguinpablo/daily-hive-stats-report-tuesday-august-24-2021

144,248K UP
HP@penguinpablo/daily-hive-stats-report-tuesday-august-31-2021

So a net powerup of only 4K Hive over the last 7 days.

So where's the Hive going? It's mostly being converted to HBD via the Hive->HBD conversion operation. It looks like 20+M Hive has been converted in the past month!

This statistics post shows we've burned over 522K Hive from conversions in just the past week!

And I calculated another 170K Hive has been burned in about a week from Splinterlands account creation.