When I started out playing with Crypto I (like many others here) began on STEEM. I always saw a lot of potential with STEEM and while it was never perfect, there were enough positives that I wanted to persist in those early years - even after crypto went into a savage Bear Market in 2018. However, after the big fork I made the decision to go with HIVE and leave STEEM behind. There were a number of reasons for this but overall I firmly believed that HIVE had a future and STEEM would probably slowly die off...
However, it hasn't. Take a look at the chart above where it looks like STEEM has actually outperformed HIVE over the last 12 months in relative terms. This is hard for me to understand WHY that actually is. HIVE is more Decentralized, has it's own DAO driving development and has a number of cool ecosystems within it - such as Splinterlands. Yet to my (admittedly limited) knowledge STEEM doesn't really have much development going on at all...if any.
So, what's the story here? On STEEM there seems to be fairly rampant Vote Selling still going on while HIVE has cleaned up it's act a lot in recent years. The SBD (STEEM Backed Dollar) has had a broken peg for years now and is basically non-functional as a Stable Coin. From a Community perspective HIVE again seems like it's streets in front of HIVE. To my eye HIVE is seriously undervalued by comparison, or maybe STEEM is just overvalued? Maybe there is something big that I'm missing or maybe there's manipulation at play?
Anyone care to throw an opinion out there as to why STEEM has outperformed HIVE over the last year with seemingly nothing really to justify it?
