I like to check in now and then on a metric I call the "Hive Hispanic Index". This is the percentage of all posts on Hive that are tagged 'spanish'. This has been rising over the long term on Hive, and just recently it has hit an all time high.
Above is the monthly chart, we can also see it on the daily chart.
The long term trend has been that the network has been becoming more and more Hispanic. I have explored in the past how this has been driven - it is not so much that we have had surges of interest from the Hispanic world, but moreso that Hispanic users on Hive particularly from Venezuela and Cuba have substantially better retention rates than much of the rest of the world.
Over the long run this higher retention of users means that the Hispanic community continues to become a larger part of the network userbase. This is mostly when the price of Hive is low, in fact when Hive is doing well in price overall users increase, meaning the Hive Hispanic Index typically drops during those times.
Right now, Hive is experiencing an all time low in posting activity. By comparison, Hispanic posts are holding fairly steady, despite a collapsing price.
Since the split from Steem, Spanish posting activity has had a 0.573 correlation with the Hive price. That is a moderate correlation, where posts overall are correlated 0.755, a strong correlation.
Hive has experienced a chronic inability to grow in user activity over the years, particularly when it comes to posting activity. The social media aspect of Hive however has always been, even back in the days of Steem, primarily to bootstrap an economic network. Although I am personally disappointed with Hive's lack of global traction, in truth no crypto, not even Bitcoin, has really gotten anywhere as a medium of exchange outside of illicit goods and scams. The use of 'spanish' tag is ultimately a reflection of usage primarily in Venezuela and Cuba, and Hive having a narrower geographic focus may actually be useful in developing an economic network, as the vast majority of economic transactions are local.
This is why I continue to follow projects like 
