You are going to laugh at me, but this gets me every time when I am looking at Hive-Engine. In what looks like a meteoric rise, the SUFB token is showing a 4400% increase in value and my tiny stack of 20 tokens is showing as being worth $200+.
I about fell out of my chair when I first saw this. I was practically giddy with excitement. I was also a bit torn because this isn't really a token that I am ready to sell.
As you can see from the description this token is set up as a way to distribute potential rewards from a pending class action lawsuit that is being filed in Australia against Facebook and Google. I read a post about the project a while ago and decide to throw some money at it.
I have participated in class action lawsuits in the past where I send in a post card and maybe six months later I get a check in the mail for $1.50 or something like that. I thought this might be my chance to turn those odds around.
In one of the latest posts they took what evidence they had to the judge to see if the case could even go to trial. The judge was very favorable and gave them some advice to get yet more evidence but things were looking good so far.
Sounds pretty encouraging right? I am not sure how the recent events that taking place in Australia with Google are going to impact this.
Perhaps it is a death knell for the law suit and that is why there was a pretty lofty sell order put in on Hive-Engine. I honestly don't know, I am just speculating, but upon looking at the buy and sell orders you can see that the value that initially drew my attention is not quite what it seems.
Like I said, I do that all the time. I see the prices on the feed and I forget to go and look to see what the actual buy and sell volume is and where the prices are at.
Seeing the huge disparity, I am not sure what the play is here. Maybe someone is trying to cause some FOMO for people like me hoping they will knee jerk buy in and then drive the price of the coin up. I many of you have a better insight on this than I do.
I'd love to hear it. Tell me what you think is going on. Have you heard of this token before? Do you HODL any?
