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At least until the initial 13 week period is over, the Hive and Steem economies remain linked. While I believe there’s a greater proportion of users selling Steem to buy Hive, surges in Hive value will inevitably cause a counter surge in Steem as it gives those folks more capital for their Steem purchases. And vice versa! So it just keeps volleying back and forth.
RE: High Volume for Hive. Is Steem following foot?